Silver Spring, MD

$216,000

Single Family Residence

07/02/2021
Transaction by
Trius Lending Partners
$216k Hard money loan for the purchase and rehab of a single-family home in the Silver Spring neighborhood of Washington DC. The acquisition price was a little over $220,000. The Borrower put a small amount of cash toward the purchase, and Adler funded the remaining 80%. The house is in terrible condition and will require extensive renovation. The property is structurally sound, but it needs to be completely gutted. The estimated ARV (after-repair value) is $335,000 so the LTV (loan-to-value) for our hard money loan is 65%. It appeared that one in every three homes on the same street had been recently remodeled. This is the Borrower’s first project to be funded by Trius Lending, and we expect to do more in the near future.