How ALFIE Financing Helped Turn the Worst House on the Block into a Profitable Multi-Property Real Estate Investment in Black Mountain
At Alfie Loans, we pride ourselves on partnering with experienced real estate investors who bring vision and craftsmanship to every project. One standout example from this past quarter is a renovation and new construction project in Black Mountain, North Carolina, led by longtime ALFIE borrower Matt McMaster.
Project Overview
- Location: 102 Keesler Road, Black Mountain, NC
- Borrower: Matt McMaster
- Loan Purpose: Property acquisition, full remodel, and new construction
- Loan Type: Short-term private financing
- Outcome: Renovated home + new single-family build on subdivided lot
From Distressed Property to Desirable Home
When Matt acquired the original property, it was visibly the most neglected home in a modest, working-class neighborhood in Black Mountain. Backed by ALFIE’s fast and flexible financing, he was able to move quickly on the purchase and begin a top-to-bottom renovation.
The project included:
- Converting an existing carport into a new bedroom and bathroom suite
- Installing a brand-new kitchen and bathroom
- Upgrading the electrical, heating, and cooling systems
- Modernizing the overall design while maintaining affordability
Smart Use of Extra Acreage
What made this deal particularly unique was Matt’s strategic use of excess land. After remodeling the primary home, he subdivided the lot to create two additional single-family lots. With further funding from Alfie Loans, Matt developed one of these lots into a newly constructed, high-quality, affordable home—adding more value to the neighborhood and maximizing his investment.
Investor Profile
Matt McMaster is seasoned in real estate investment in Black Mountain with numerous successful residential projects across the Asheville and Black Mountain areas. With a strong eye for opportunity and a highly capable team, Matt consistently delivers high-quality renovations and new builds that generate strong returns.
Why This Deal Stands Out
- Location-Specific Impact: This project revitalized a neglected property in Black Mountain, NC—boosting local property values and offering quality housing in a growing market near Asheville.
- Creative Vision: Turning one run-down home into a remodeled residence and a new build on a subdivided lot showcases how investors can maximize both property use and profitability.
- ALFIE’s Role: By offering accessible and responsive short-term financing, Alfie Loans enabled fast acquisition and development that might not have been possible with traditional lenders.
Final Thoughts
We’re proud to support real estate investors like Matt McMaster who not only deliver financially successful outcomes but also contribute positively to their communities. Congratulations to Matt and his wife Alicia as they prepare to welcome their first child!
