Hey everyone! All of our CASE STUDIES, like this new construction case study in Dallas, Texas, showcase the real estate investment loans we have done for our clients. They give you real-life details about how other investors used our loan products to build their portfolios! From fix and flip and fix to rent loans to new construction, multifamily and rental loans, we do them all!
CASE STUDY OVERVIEW New Construction, Dallas, Texas
Location: Northwest Dallas, Texas
Loan Amount: $1,607,930
iFC Loan Product: New Construction
Property Type: (2) SFH
Loan Closing Date: 11/15/2022
Purchase Price: $260,000 and $280,000
Construction Budget: $675,841 (Each)
ARV: $1,490,000 (Each)
Loan to Cost: 73% & 72%
Exit Strategy: Sale
Length of Loan: 15 months
CASE STUDY DETAILS: New Construction, Dallas, Texas
This customer met local Texas Loan Representative Jack, and I Fund Cities co-founder, Ryan, at a Dallas meetup that was hosted by an existing client.
The borrower had owned two lots in the Dallas Love Field area for over a year, but the bank financing to build two new single-family homes was taking longer than expected.
We were able to provide a quicker funding solution than the bank, which allowed the borrower to break ground right after closing and meet their expected timeline for the builds.
We also used their imputed equity in the land to cover all closing costs, fund 100% of their construction budget, and prepay interest reserves.
The client walked with enough cash to cover some of the upfront costs for the larger line items in their budget, like foundation and framing.
This customer appreciated our ability to close quickly and reliably!
Our clients often complement us on our approach to lending, which is personalized and customized for each investor.