Wesley Chapel, FL

The Opportunity

A first-time flipper found a four-bedroom, four-bathroom property in the Orlando suburb of Wesley Chapel, Florida. The property needed significant updates but offered incredible profit potential.

Unfortunately, the investor started this project right before the COVID pandemic. As a result, the project ran into significant permitting delays as well as supply-chain issues and increased material costs. These issues are tough for an experienced investor, but for this first-time flipper they could have been a project killer.

The Solution

Lima One had given this investor a chance to complete their first flip with a 90% LTC loan. More importantly, when challenges arose, Lima One’s in-house construction management and servicing teams helped the investor work through issues. Construction management helped the investor wisely reallocate
the rehab budget to ensure the flip was completed, while the servicing team helped the investor get appropriate loan extensions to ensure project completion while keeping the profit in place.

As a result, the investor was able to complete the flip and sell the property for $505,000, making a profit on the project despite the significant challenges caused by the pandemic. Now the flipper has profit in their pocket and experience that can be used to make future flips even more successful.