A portfolio investor acquiring their 8th rental found a tenant-ready SFR in Kendall - $575,000 purchase, tenant already paying $4,200/month on a 12-month lease.
LOAN AMOUNT
$460,000
Investor had maxed conventional loan limits. Income was pass-through LLC distributions - useless for traditional bank underwriting.
Adler Capital closed $460,000 at 80% LTV in 22 days. Pure DSCR underwriting - 1.23 ratio. No personal income docs at any point.
The Outcome
Deal closed clean. Tenant renewed for another 12 months. Monthly cash flow after debt service: $940. This investor now uses Adler Capital exclusively for rental acquisitions.
Deal Highlights
LOAN AMOUNT
$460,000
PURCHASE PRICE
$575,000
MONTHLY RENT
$4,200
DSCR RATIO
1.23
LTV
80%
CLOSING TIME
22 Days
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