CASE STUDY: Fix and Hold: Charleston, SC: $873,800  

All of our CASE STUDIES, like this Charleston, SC, fix and hold case study in the amount of $873,800, 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

Location: Charleston, SC  

Loan Amount: $873,800  

iFC Loan Product: Fix and Hold  

Property Type: Condo 

Loan Closing Date:  05/21/24  

Purchase Price: $675,000  

Construction Budget: $353,000  

ARV: $1,450,000  

Loan to cost: 85%  

Exit Strategy: Hold  

Length of Loan: 12 months  

CASE STUDY DETAILS

Loan officer Vincent DeMarco connected with this fix and hold borrower in Charleston, SC, after seeing a few projects the investor was doing downtown. Vincent recognized this investor as a great fit for i Fund Cities.

The builder was looking to build up his rental portfolio, and so he needed a lender that could do both bridge and rental loans. The borrower had experienced some issues with past lenders and was looking to start a new relationship with a local lender that could deliver.

iFC co-founder Chris Tereo and Vincent saw an opportunity to create a long-term lending relationship with the builder. They met him on site to learn more about his business and saw the great product he was building.  

HOW WE HELPED

As a one-stop shop for borrowers, iFC was able to fund 100% of the borrower’s rehab budget and a portion of the purchase. Once the borrower finishes the rehab and stabilizes the property, we will refinance the property and put it into a long-term DSCR loan. 

The investor was pleased that we were able to close these loans quickly and at the terms we originally presented the builder.  And, because he does a range of projects, including new construction, fix and flips, and fix and holds, he found iFC to be a perfect fit for his business and his future projects.

CUSTOMER FEEDBACK

“I put Vincent and [ifc Account Manager] Dan to the test with a quick close and they got it done! Excited to use i Fund Cities on the next deal” said the investors.

Thank you! We are excited to work with you on your next deal, as well! 

CAN WE HELP YOU FUND YOUR NEXT FIX AND HOLD REAL ESTATE INVESTMENT? 

LET’S GET IN TOUCH!

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