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: Indialantic, FL
Loan Amount: $464,000
iFC Loan Product: Fix and Flip
Property Type: Single Family Residential
Loan Closing Date: 09/07/21
Purchase Price: $470,000
Construction Budget: $88,000
ARV: 64%
Loan to Cost: 83%
Length of Loan: 12 Months
Overview
This client is a successful fix and flip investor doing beautiful remodels in Indialantic, a cool beach town on Florida’s east coast. The client’s company was reaching its loan capacity with their current private lender and needed a new lender option that would allow them to keep their business growing.
The client found i Fund Cities through Instagram. When they called and told us about their goals, and showed us the work that they had done, we were able to provide this client with funding to complete two of their current projects.
Key Loan Benefit to Borrower:
Not only did we help them complete their current projects, we are excited to grow with them by allowing them to originate loans with us up to $25 million. Now, there’s a sunny growth curve!
Customer Feedback:
The transaction was very smooth. Caitlin was incredible to work with. She kept us up to date on the progress of our loan and i Fund Cities was very fast for the closing. Highly recommend!
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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.”