Ocean-view triplex in St. Augustine generating steady year-round vacation rental revenue.
LOAN AMOUNT
$710,000
Previous lender stalled for 6 weeks requesting personal tax returns on multiple businesses.
Adler Capital rescued the transaction in 12 days with a $710,000 asset-based DSCR loan.
The Outcome
Seller agreed to a $25K credit for quick close, which covered borrower's entire closing costs.
Deal Highlights
LOAN AMOUNT
$710,000
PURCHASE PRICE
$950,000
MONTHLY RENT
$6,800
DSCR RATIO
1.35
LTV
75%
CLOSING TIME
12 Days
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