Highlights
Location: Sebring, FL
Loan Amount: $176,875
iFC Loan Product: Bridge – New Construction Portfolio
Property Type: SFH
Loan Closing Date: 10/21/2022
Purchase Price: $20,000
Construction Budget: $202,448
ARV: $283,000
Loan to Cost: 80%
Length of Loan: 12 months
Overview
This investor was excited about scaling their business, but they needed financing to help them continue to grow, without using their own cash.
Once we understood their needs, we were able to reimburse them for the cash they’d put into this deal. We were also able to use some of their equity in the project to support the remainder of work to be completed.
Customer Benefit
This type of access to flexible and reliable capital is a game changer for new construction portfolio builders!
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This is just one example of a borrower who chose an Alternative Loan over a Bank Loan. There are many others. Read our blog post, “26 Real-Life Examples: Why Investors Choose Alternative Loans Over Bank Loans.”