Hey everyone! All of our CASE STUDIES, like this BRRRR case study in Rocky Mount, North Carolina, 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: BRRRR: North Carolina
Location: Rocky Mount, NC
Loan Amount: $559,200
iFC Loan Product: 12-month bridge acquisition and renovation loan, refinanced into a 30 Year DSCR Rental Loan
Property Type: 3 Duplexes
Loan Closing Date: 3/14/2023
Purchase Price: $170,000
Construction Budget: $206,593
Rental: $8345/mo
ARV: $932,000
Loan to value: 60% LTV
Exit Strategy: Hold for rental for traveling nurses
Length of Loan: 30 years
CASE STUDY DETAILS: BRRRR: North Carolina
This Rocky Mount project, three duplexes that needed renovation, came to us through a repeat borrower. The borrower intended to do the renovations and then rent the properties to traveling nurses.
The borrower needed a loan for both the purchase of the duplexes, along with the renovations. After that, they needed to get their initial capital back out of the project.
This was a classic BRRRR project: Buy, Rehab, Rent, Refinance, Repeat!
CUSTOMER BENEFIT
We were able to give the investor loan products to facilitate this approach, all along the way, starting with a 12-month bridge acquisition and renovation loan and refinancing into a 30-year DSCR when the renovations were complete!
Once the borrower was able to refinance into the long-term loan, they could use those funds to do the “repeat” part of the BRRRR method.
Said the client, “IFC is a one-stop shop for our BRRRR method!”
(That’s true and we can do the same for you!)
Can we help you fund your next BRRRR real estate investment?