All of our CASE STUDIES, like this Charlotte, NC, bridge loan case study for a loan in the amount of $292,500, 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: Bridge Loan: Charlotte, NC, $292,500
Location: Charlotte, NC
Loan Amount: $292,500
iFC Loan Product: Bridge – No Renovation
Property Type: SFR
Loan Closing Date: 09/24/24
Purchase Price: $390,000
Construction Budget: $0
ARV: $460,000
Loan to value: 75%
Exit Strategy: Sell
Length of Loan: 12 months
CASE STUDY DETAILS: Bridge Loan: Charlotte, NC, $292,500
This bridge loan client is a realtor with a ton of experience in North Carolina. The client, a repeat i Fund Cities borrower, buys properties that are priced significantly under market and re-lists them at a higher price almost immediately.
HOW WE HELPED
Although the realtor had been working with another lender for quick short-term funding, that lender did not understand the project. And, unfortunately, the funding fell through at the last minute.
To get this deal done, the borrower had to find a lender who could close in just four days! Given that he had worked with us before, the realtor came to us because he knew we could execute on that short timeline.
Thanks to some quick teamwork between iFC and the borrower, the realtor was able to keep his seller happy, as well as the buyer who was purchasing the home a week after closing.
CUSTOMER FEEDBACK
“I didn’t like having to throw you and your team in that position,” the borrower said, “but I knew you guys could get it done. Next time we’re coming to you guys from the beginning.”