Lorain Single-Family BRRRR
91% LTC bridge plus $10,000 in value-add rehab capital, refinanced via DSCR after three months as a cash-flowing rental.
Who came to us
An active Ohio real estate investor with a growing portfolio of rental properties came to DayOne for funding outside the traditional bank channels. He had identified a single-family home in Lorain with strong rental fundamentals and a clear value-add path, and needed a lender that could move on his timeline rather than a bank's.
How we structured it
DayOne funded the acquisition at 91% loan-to-cost and added $10,000 in value-add rehab capital on top of the purchase. The loan was structured as a short-term bridge, underwritten on the property and the borrower's investing track record rather than personal income documentation. Capital was wired on the investor's timeline so he could close on his contract.
How it ended
After completing the rehab and stabilizing the property, the borrower refinanced out via a long-term DSCR loan at month three. The home is now held as a cash-flowing rental in his Ohio portfolio.
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