DLP Direct Lending Partners was pleased to be the lending partner for real estate investor Steve Rogai of SAR Holdings, who had previously worked with DLP.
The investor came across a great investment property that was being sold to him at a heavily discounted price. If the investor wasn’t able to close on the property quickly, he would miss out on this unique investment opportunity. Having already established a relationship with DLP Direct Lending Partners through DLP’s Preferred Line of Credit Program, DLP was able to push the underwriting process into hyper-drive, and closed the loan without an appraisal through our Express Loan Program.
“The property came to us on a fire sale because a previous deal on the property fell apart at the last minute. The seller came to us with aggressive pricing but required us to close in just 4 days in order to get the deal, which DLP succeeded in doing! After waiting a month for permits, we were able to renovate it in less than three months. This deal was a slam dunk for Sar Holdings, netting us a cool $300,000 in profits all because DLP executed quickly,” commented Steve Rogai.
The investor purchased the property for $955,450. After completing $235,100 in renovations, they were able to sell the property for $1,675,000.