Hey everyone! All of our CASE STUDIES, like this Fix and Flip case study in Lakeland, Tennessee, 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: Fix and Flip: Tennessee
Location: Lakeland TN
Loan Amount: $184,500
iFC Loan Product: Fix and Flip: Bridge with Renovation
Property Type: Single Family Residential
Loan Closing Date: 3/23/23
Purchase Price: $207,500
Construction Budget: $32,116
Loan to value: 80% LTC
Exit Strategy: Sell
Length of Loan: 6 months
CASE STUDY DETAILS: Fix and Flip: Tennessee
These real estate investor clients in Lakeland, Tennessee, found us through our Google page (where we have lots of great reviews, btw)!
These investors were in a tough spot—the lender they had been working with had dropped the ball. They now had just five days to close their deal.
Not only did we meet their deadline with a real estate bridge loan, we were able to close with a day to spare. How? We shaved off a lot of time by using something called a desktop appraisal. This is a type of appraisal where the value of the property is gained by using existing tax records and MLS listing information, rather than having an appraiser actually visit the property in person.
The Customer Benefit: Tennessee Bridge Loan with Renovation
By coming to us, the client not only saved their deposit, but they found a reliable lender for all of their future real estate investment loan deals.
Said the client, “We will definitely be using you guys on anything going forward. Thank you for getting this done!”
It was our pleasure – see you again soon! Let us know how we can help you!