A high-net-worth investor found a tenant-ready 4/3 in West Boca - $625,000 purchase, existing tenant paying $5,200/month on a renewable lease. Zero work needed, just close and collect.
LOAN AMOUNT
$500,000
Investor had maxed out their Fannie Mae loan count and needed a non-QM solution that could close in under 30 days without income verification. Their income was complex - mix of W-2, K-1, and dividends.
Adler Capital closed $500,000 at 80% LTV in 19 days. Pure DSCR underwriting - DSCR ratio came in at 1.31. No personal income docs at any point in the process.
The Outcome
Clean, seamless close. Monthly cash flow after PITI: $1,430. Investor now has 4 DSCR loans with Adler Capital across Palm Beach and Broward counties.
Deal Highlights
LOAN AMOUNT
$500,000
PURCHASE PRICE
$625,000
MONTHLY RENT
$5,200
DSCR RATIO
1.31
LTV
80%
CLOSING TIME
19 Days
More Deals
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