Hey everyone! All of our CASE STUDIES, like this new construction case study in Washington, Utah, 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: New Construction, Washington, Utah
Location: Washington, Utah
Loan Amount: $736,186
iFC Loan Product: New Construction
Property Type: Single Family Residential
Loan Closing Date: 7/11/2023
Purchase Price: $450,000
Construction Budget: $416,101
ARV: $1,400,000
Loan to value: 85% LTC
Exit Strategy: Sell
Length of Loan: 12 months
CASE STUDY: OVERVIEW: New Construction, Washington, Utah
This borrower heard about i Fund Cities through a broker. He was having a problem finding a lender that would give him the leverage he needed on his luxury single-family new construction builds and hoped we could help.
In addition to being able to meet with this client in person, we were able to use his extensive experience to get comfortable with funding his deal at the number he needed. In fact, we funded seven of his new construction builds in southern Utah.
CUSTOMER BENEFIT
This borrower not only gained the leverage he needed to make his deal numbers work, but by keeping communication lines open, and connecting him with our draws team pre-funding, we could assure this borrower a smooth loan process through closing and beyond.
“You guys were great to deal with,” said the client. “We’ll definitely be doing more in the future with iFC.”
This feedback is fantastic to hear, and we are looking forward to doing more deals with this borrower in Utah!
Can we help you fund your next New Construction real estate investment?