Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios!
Highlights:
Location: Cape Coral, FL
Loan Amount: $306,000
iFC Loan Product: New Construction
Property Type: Single Family Residential
Loan Closing Date: 3/12/2021
Purchase Price: $23,000
Construction Budget: $337,000
ARV: $575,000
LTC: 85%
Length of Loan: 12 Months
Overview
This client, a repeat i Fund Cities borrower, is a developer in Cape Coral, FL that builds modern, single-family homes.
These developers were looking for a partner with whom they could trust and grow. Says iFC’s enterprising Loan Officer Caitlin Davis, “We could see that they had an eye for what they wanted to do, and they were ready to execute multiple projects. They just needed a lender who saw their vision!”
We saw their vision, and by listening closely to what these investors needed, we were able to support them by ultimately giving them the exposure needed to complete five new construction projects this year!
Key Loan Benefit to Borrower:
The key benefit to this borrower was that they had ease and peace of mind in relation to their lender and their funding. This allowed them to focus on doing what they do best! Just take a look at the results in these before (raw land), during, and after photos!
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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.”