A Miami-Dade investor bought a distressed 3/2 in Homestead at $215,000 - roof damage, mold in primary bath, and full gut-level renovation needed. Comps for updated homes: $380K-$410K.
LOAN AMOUNT
$345,500
Homestead has fewer comps than Miami proper, making lender valuations conservative. The investor needed a lender willing to underwrite to an accurate ARV, not a lowball appraisal, with 90% LTV plus full rehab.
Adler Capital funded $345,500 - 90% of purchase plus $140K rehab - with a realistic ARV of $395,000 supporting the loan. Closed in 11 days.
The Outcome
Sold for $398,000. Net profit after all costs: $42,000 on an entry-level deal with minimal cash out of pocket. Investor reinvested into a larger Doral flip financed again through Adler Capital.
Deal Highlights
LOAN AMOUNT
$345,500
PURCHASE PRICE
$215,000
RENOVATION BUDGET
$140,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$395,000
PROJECT DURATION
8 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
Real estate operator facing an aggressive hard money balloon note default on a renovated 4-unit property.
A fully leased SFR in Fort Lauderdale's Victoria Park - long-term tenant paying $3,800/month. Purchase price $475,000. Numbers penciled perfectly for a DSCR loan.
A Philadelphia investor scooped up a distressed 3-bedroom rowhouse in Fishtown for $185,000. Gut renovation needed: $72,000. Comparable finished product in the neighborhood: $360K-$380K.
