Exterior Siding Overhaul & Rear Outdoor Living Buildout Fix & Flip

The Investor Scenario & Opportunity

A seasoned local real estate investor secured an off-market wholesaler assignment for a single-family waterfront home in Essex, Maryland. Situated in eastern Baltimore County along the Back River peninsula, Essex represents an attractive residential market for buyers seeking water access, private docks, and commuter convenience to Baltimore City and Aberdeen Proving Ground.

The transaction carried severe time constraints. The wholesaler assignment contract required a large non-refundable deposit and a five business day closing deadline to prevent contract termination. The investor locked in an acquisition price of $280,000. Fully renovated waterfront single-family properties in the immediate sub-market with updated exterior facades and outdoor entertainment decks were selling consistently near $535,000.

The Strategy & Capital Requirement

The primary objective was funding speed paired with capital preservation. The binding wholesaler assignment terms required complete funding within five business days, making conventional bank financing impossible.

At the same time, the investor had liquid capital deployed across an active multi-family renovation project in nearby Dundalk. To maintain adequate working capital for subcontractor payroll and material orders on that active job site, the borrower required a direct loan facility covering 90% of the purchase price and 100% of the renovation scope.

The Henry Solution (Loan Mechanics & Underwriting)

Hard Money Henry underwrote the transaction based on direct real estate equity and local Baltimore County waterfront sales comparables. Our internal underwriting team evaluated recent Essex single-family sales within 24 hours, waiving traditional third-party appraisal requirements.

We issued a firm commitment letter and structured a $362,408 total loan facility, financing 90% of the purchase price ($252,000) and 100% of the construction scope ($110,408). Construction funds were held in escrow and released across four milestone draw inspections as work was completed. The transaction funded and closed in five business days.

The Financial Win & Outcome

The developer completed a 90-day comprehensive renovation program. The primary value-add strategy focused on transforming the exterior curb appeal and maximizing the rear waterfront outdoor living area. The investor allocated $42,000 of the $110,408 budget to replace damaged exterior siding with vinyl cladding, install a new architectural shingle roof, and rebuild the front porch. Another $38,000 was dedicated to constructing a large multi-tier composite rear deck overlooking the water.

The remaining $30,408 funded an open-concept kitchen overhaul, custom bathrooms, luxury vinyl plank flooring, and fresh interior paint. Transforming the exterior appearance and creating premier outdoor entertaining space yielded multiple competing offers within five days of market release.

• Purchase Price: $280,000
• Rehab Budget: $110,408 (Exterior siding and roof overhaul, rear waterfront composite deck, interior renovation)
• Financing & Holding Costs: $22,000
• Selling Costs (6%): $32,100
• Total Cost Basis & Expenses: $444,508
• Final Sale Price: $535,000
• Net Profit: $90,492

Key Takeaways for Local Investors

• Exterior transformations drive waterfront premiums. Upgrading exterior siding and building dedicated rear decks unlocks maximum property value in water-oriented sub-markets.
• Wholesaler assignments require guaranteed capital delivery. Partnering with a direct balance-sheet lender who guarantees settlement in five business days secures high-margin assignment deals.
• 100% construction debt maintains portfolio liquidity. Structuring financing to cover total renovation draws keeps working capital available for concurrent active developments.

Planning a single-family fix and flip or waterfront renovation in Essex or Baltimore County? Submit your property address at hardmoneyhenry.com/apply for a 24-hour commitment letter.