538 Rutile Drive

538 Rutile Drive

Ponte Vedra Beach, FL 32082

 

Watch this video for details on the PREFER model.

PREFER Loan Amount

Total Raise: $820,000

  • Down Payment: $475,000

  • 2.5% Points: $59,375

  • Closing Costs: $77,900

  • Construction Fee & Costs: $24,500

  • Wholesale Fee: $80,000

  • Carrying Cost (6-8 Months): $90,000

PREFER Secured Loan Interest: $225,500

Cash on Cash Return: 27.5%

BECOME A LENDER ON A SIMILAR DEAL

Property Details

  • 5 Beds, 4 Baths, 3,159 Sq. Ft.

  • Waterfront Property on 0.52 Acres

  • Blocks from the Atlantic Ocean

  • Exclusive Old Ponte Vedra Beach

  • World Class Golf & Country Club

Rehab Details

  • Creating an Open Concept

    • Full Demo in Kitchen, Living Areas, and Foyer

  • 800 Sq. Ft. Master Suite Build Out

  • Adding Golf Cart Garage

  • New Paint and Flooring

Property Data

Buy Price: $2,375,000

  • Mortgage Amount: $2,580,000

  • Rehab Cost: $850,000

  • Estimated Completion: 12-14 Months

Estimated After Repair Value: $4,300,000

Estimated to Market: Summer 2026

Estimated Payout: Fall 2026

The PREFER Model

  • High-End Luxury Fix & Flips

    • Operating only in coastal markets

    • Choosing properties that are not selling for their full value because they’re out of date and missing the key features & amenities luxury buyers are looking for.

  • Totally Passive

  • Short-Term Cash on Cash Returns

    • 12-14 Month Rehab Timeline

    • Returns Expected Within 12-18 Months

  • Fractional

    • $50,000 Minimum

  • Geographic Mobility

    • Lender doesn’t have to be local to the property.

  • Extensive Due Diligence

    • Several third-party appraisals and consultations with local real estate agents and professionals to ensure these deals will produce the expected returns.

Property Updates

06.06.25 Update

  • Filling in slab for new additions.

  • Framing and trusses starting next week.

  • Framing rough MEPs.

  • Next is interior finishes.

  • Design book being completed.

06.20.25 Update

  • New framing complete

  • Roof has been removed

  • Concrete slab pouring soon

06.13.25 Update

  • Interior reframing and roof removal under-way.

  • Concrete slab pour happening soon.

11.15.25 Update

  • Electrical underway

  • Pool decking demo complete

  • Grading for additional garage and master suite completed

10.24.25 Update

  • Additional construction on third-car garage

  • 800 sq ft master suite new construction underway with electric and plumbing

  • Trusses with new permitted raised ceiling complete

11.08.25 Update

  • Rough ends for plumbing complete

  • Grading for additional garage and master suite underway

  • Electrical underway

  • Plumbing fixtures ordered

11.01.25 Update

  • Framing complete

  • Electrical underway

  • New design for master suite approved

09.26.25 Update

  • Pool and deck plans finalized

  • Additional plumbing underway

  • Prep done for new construction wing to begin

  • Awaiting inspection to move forward

10.17.25 Update

  • Framing complete

  • Rough ends for plumbing complete

  • Third-car garage construction underway

  • 800 sq ft master suite new construction underway with electric and plumbing

  • Pool deck demo underway

10.04.25 Update

  • Plumbing and electrical underway

  • Awaiting inspection to move forward

08.29.25 Update

  • Framing and roof complete

  • Pool company preparing proposal for new pool & deck

  • Electrical complete

  • Awaiting inspection to move forward

09.19.25 Update

  • Pool and deck plans finalized

  • Additional plumbing underway

  • Awaiting inspection to move forward

09.05.25 Update

  • Pool company preparing proposal for new pool & deck

  • Modification of plumbing to accommodate additional cabana bath and powder bath being finalized

  • Awaiting inspection to move forward

07.07.25 Update

  • Slab for master suite is starting

  • Plumbing roughs are under-way

  • Framing is under-way

08.23.25 Update

  • Roof installed

  • New beams and trusses installed

08.01.25 Update

  • Pool demo underway

  • Finishing framing

  • Finalizing plumbing

  • Closing up the vaulted roof

01.17.25 Update

  • Engineering plans next week

  • Buyers getting more involved on design plans

02.07.25 Update

  • Demo & framing are done

  • Permits are in

  • Windows have been ordered

01.24.25 Update

  • Plans are complete

  • Framing starting in 7-10 days

12.13.24 Update

  • Demo is complete

  • Already have a potential buyer

  • Offer may be coming soon!

01.10.25 Update

  • Final design plans are in

  • Electric, plumbing, and HVAC have started

12.20.24 Update

  • Demo is complete

  • Engineer signing off on roof plans

  • Showing later this week!

02.14.25 Update

  • Waiting on permits correction approval

03.07.25 Update

  • Wrapping up permitting

  • Framing starting next week

  • Rough MEP’s following

02.28.25 Update

  • Waiting on clearance for engineering and permit to begin next stages - should have this soon.

03.14.25 Update

  • Had another adjustment with permitting

  • Awaiting county to pass through changes

  • Rough MEPs starting next week

03.28.25 Update

  • Changes to master suite submitted for permit

  • Final permit expected any day now

03.21.25 Update

  • Last permit is finalizing with the county

04.04.25 Update

  • Concrete & framing next

05.09.25 Update

  • Vaulted ceiling permitting should be in by Monday

  • Crews ready to go

04.18.25 Update

  • Waiting on a permit for roof demo for vaulted ceilings

05.16.25 Update

  • Vaulted ceiling construction to start next week

05.30.25 Update

  • Rough MEPs in process

  • Slab demo to begin for master suite

  • Removing the roof for vaulting soon

05.23.25 Update

  • Permit in hand

  • Trades all locked in

  • Schedule being tightened this week, with full start anticipated by May 27th

12.06.25 Update

  • Framing complete

  • Rough ends for plumbing complete

  • Construction of additional garage and new master suite underway

  • Electrical underway

11.22.25 Update

  • Framing complete

  • Rough ends for plumbing complete

  • Plumbing lines opened to run to new master suite

01.31.26 Update

  • Framing complete

  • Rough ends for plumbing complete

  • 3rd car garage frame in complete

  • Master suite frame out complete

  • New roof complete

  • Electrical underway

  • Custom cabinets underway

01.03.26 Update

  • Construction of additional garage & master suite

  • Slab being laid for master suite & 3rd car garage

  • Electrical underway

  • All interior slab leveled to prep for flooring

12.13.25 Update

  • Framing & rough ends for plumbing complete

  • Slab to be laid next week for garage and master suite

  • Electrical underway

01.17.26 Update

  • Framing complete

  • Rough ends for plumbing complete

  • 3rd car garage frame in complete

  • Master suite frame out complete

  • New roof complete

  • Electrical underway

  • All interior slab leveled to prep for flooring

02.14.26 Update

  • Framing complete

  • Appliance package ordered

  • Custom cabinets underway

  • Final plumbing underway

  • Electrical underway

  • Final paint & millwork design selections

  • New roof complete

04.03.26 Update

  • Brickwork Complete on 3rd car garage

    Framing complete in Master Suite add on 

    Plumbing complete 

    Electric complete

    HVAC Complete

  • Window installation Complete

  • Insulation Complete

  • Dry wall Delivered/Installation to begin

03.07.26 Update

  • Framing complete

  • Appliance package ordered

  • Custom cabinets underway

  • Final plumbing underway

  • Electrical underway

  • Final paint & millwork design selections

  • New roof complete

03.20.26 Update

  • Brickwork complete on 3rd car garage

  • Master suite add-on framing complete

  • Plumbing complete

  • Electrical complete

  • HVAC complete

  • Window installation to begin

04.18.26 Update

  • Started sheetrock today

    Masons finishing brick work

    All windows installed

    Pool is scheduled to be done

05.01.26 Update

  • Sheetrock is complete and ready to be sanded

  • Masons are almost complete with the brick

  • All windows are installed

  • Pool is scheduled

  • Doors are ordered interior and exterior

06.26.26 Update

  • Sheetrock is complete and primed

  • Interior Paint complete

  • Masons are Complete

  • Stucco brown coat applied

  • All windows are installed

  • Pool demo started

  • Pool deck was demo'd

  • Interior doors installed

  • Exterior doors were installed

  • Cabinets are finalized and ordered

  • Sliders Installed

  • Tile delivered and installation underway

05.15.26 Update

  • Sheetrock is complete and ready to be primed

  • Masons are almost complete with the brick

  • All windows are installed

  • Pool is scheduled

  • Doors are ordered interior and exterior

  • Cabinets are finalized and ready to order

05.29.26 Update

  • Sheetrock is complete and ready to be primed

  • Masons are almost complete with the brick

  • All windows are installed

  • Pool is scheduled

  • Doors are ordered interior and exterior

  • Cabinets are finalized and ready to order

06.12.26 Update

  • Sheetrock is complete and primed

  • Interior Paint started

  • Masons are Complete

  • Stucco Lathe Started

  • All windows are installed

  • Pool demo started

  • Pool deck was demo'd

  • Interior door installation underway

  • Exterior doors were installed

  • Cabinets are finalized and ordered

  • Sliders Installed

07.11.26 Update

  • Sheetrock is complete and primed

  • Interior Paint complete

  • Masons are Complete

  • Stucco brown coat applied

  • All windows are installed

  • Pool demo started

  • Pool deck was demo'd

  • Interior doors installed

  • Exterior doors were installed

  • Cabinets are finalized and ordered

  • Sliders Installed

  • Tile delivered and installation underway

07.24.26 Update

  • Sheetrock is complete and primed

  • Interior Paint complete

  • Masons are Complete

  • Stucco complete

  • Exterior paint on brick and stucco complete

  • Soffits are being completed and painted

  • All windows are installed

  • Pool demo started

  • Pool deck was demo'd

  • Interior doors installed

  • Exterior doors were installed

  • Cabinets are finalized and ordered

  • Sliders Installed

  • Tile being installed

Get on the List

What is the PREFER Method?

  • The real estate market is certainly tough right now, but the data is showing there are certain markets in the luxury space that are continuing to have the greatest opportunity for high profits, specifically for luxury-level flippers. According to a recent Luxury Market Report by the Institute for Luxury Home Marketing, “The most significant trend, after a slow start to the year, is that the North American luxury real estate market has, for the most part, returned to a seller’s market.” The report also details that luxury is no longer defined solely by size or price and that buyers are now seeking premium properties that meet their specific requirements and they are willing to pay a premium if the property checks all of their boxes. This is the prefer model in a nutshell - picking properties in these strong higher-end markets that are not selling for their full value because they’re out of date and missing the key things luxury buyers are looking for. That’s why these properties can double in value with some strategic luxury remodels.

  • Yes! PREFER Lenders provide the gap funding for the project and are paid a set cash on cash return when the project is complete and the property sells.

  • Look above for the form to add you to the email list. Participants will receive emails when new projects are coming - they will be the first to hear of new projects. Lending on a project is a first come, first served basis and these projects fill fast, so we recommend you get on the list even if you are not quite ready to become a lender on an upcoming project.

  • No! These projects can be lended in full or they can be fractional. The minimum amount is $50,000.

  • Rehabs are estimated to take 6-8 months. Once the project is complete the property will be listed for sale. The average days on market for the locations we operate in are between 45 and 90 days, meaning our estimated timeline for lenders to be paid is 12-14 months.

  • Your loan is collateralized by the real estate through a promissory note.