$490,000

Not every fix-and-flip goes according to plan, and this New Jersey project was a tough lesson in adaptability. Originally intended as a full renovation with an addition, the borrower ran into unexpected permitting challenges, forcing a shift in strategy. They revised their approach, sticking to renovations with a budget of $152,000. The total loan amount reached $419,444, and what was meant to be a 12-month project stretched to 674 days. Initially projected to sell for $715,000, market conditions and delays took a toll, and the property ultimately sold for $490,000. While the outcome fell short of expectations, this deal highlights the importance of flexibility, risk management, and the reality that not every project will be a home run.