Deal Review: $1.3M 7-Day STR Refinance

The challenge

Why This Deal Was at Risk

The borrower owned a newly renovated four-unit short-term rental in one of Fort Lauderdale’s most active STR corridors. Despite the strong location and pristine asset quality, the appraisal concluded the property would generate only $15,000 per month in STR income.

Appraisal Shortfall

Appraisal projected only $15k/mo STR income
No trailing STR history
Loan amount at risk of $500k reduction

This figure was materially below market comparables and insufficient to support the requested loan amount. Most lenders would have accepted the appraisal at face value and reduced proceeds, forcing the borrower to bring significant cash to close. Brick City Capital took a different approach.

How the Income Model Was Rebuilt

Rather than disputing the appraisal outright which consumes valuable time, the team supplemented it with verifiable, granular market evidence. We constructed a parallel income thesis:

Same-Day Income Letters

Obtained formal estimates from a top local STR property manager and a specialized Fort Lauderdale broker.

Rate Documentation

Documented expected weekly and monthly rates based on live bookings of identical units nearby.

Validating Projections

This allowed underwriting to reflect realistic earning potential (~$25k/mo) rather than conservative long-term rental estimates.

Need certainty on your next STR deal?

We don't rely on automated underwriting. We build the case for your loan.

Submit a deal

execution timeline

Appraisal income risk identified.

Backup income strategy built immediately.

Market income letters received.

DSCR model rebuilt @ ~$25k/mo.

Rush appraisal ordered/reviewed.

Title & credit cleared in parallel.

Loan Funded.

No retrades. Full proceeds.

the outcome

Data-Driven Approval

Income model rebuilt using market data
Full refinance proceeds preserved
Closed in just 7 days

transaction summary

Loan Amount

$1,366,000

Location

Fort Lauderdale, FL

Loan Type

DSCR Portfolio Refinance

Property Type

Short-Term Rentals

Term

10-Year Interest Only

Meet the loan officer

"If we had accepted the appraisal’s rent number, the deal would have collapsed on impact. We knew the market better than the report did."

Jack Bergen

VP, Originations

Work with Jack

Explore more deals we've closed

$6.68M Portfolio Refinance

Turning a 66-Unit New Construction Portfolio Into Long-Term Financing in Just 17 Days

$945k 4-Unit Purchase in Los Angeles

Complex capital in a tight escrow window

Get Quote

assets

Single-Family Residential

Single-Family Porfolios

Short-Term Rentals

Non-Warrantable Condos

Multi-Family

Mixed-Use

work with us

Brokers

Borrowers

company

About Us

Terms & Conditions

Our HeadQuarters

50 Park Place, Suite 301 Newark, NJ 07102

Contact

(973) 705-7725

sales@brkcty.com

* Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet.

Disclaimers: