An Austin builder had a fully permitted infill lot in South Austin - 2,800 sq ft modern farmhouse targeting the $900K+ resale market. Total build cost: $520,000.
LOAN AMOUNT
$468,000
Builder had two other projects underway. Needed 90% LTC with a reliable draw process - no delays, no runarounds.
Adler Capital funded $468,000 at 90% LTC. 9-month build with 6 draws, each funded within 4 business days of inspection.
The Outcome
Sold for $947,000 - $47K over asking. Builder netted $312,000. Now has two new lots under contract, both financed through Adler Capital.
Deal Highlights
LOAN AMOUNT
$468,000
TOTAL COST
$520,000
LTC
90%
SQUARE FOOTAGE
2,800 sq ft
SALE PRICE
$947,000
BUILD TIME
9 Months
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