CASE STUDY: New Construction: Charlotte, NC: $4,420,000

All of our CASE STUDIES, like this Charlotte, NC, new construction case study for a series of loans in the amount of $4,420,000, 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: Charlotte, NC 

Loan Amount: $4,420,000

iFC Loan Product: New Construction  

Property Type: 13 Townhouses  

Loan Closing Date:  05/31/2024  

Purchase Price: $2,210,000  

Construction Budget: $2,990,000  

ARV: $6.5M  

Loan to cost: 85%  

Exit Strategy: Build and Sell  

Length of Loan: 12 months  

CASE STUDY DETAILS

This local new construction borrower in Charlotte, NC, was limited on the land acquisitions they were able to complete because of the volume limits put on them by other lenders.

HOW WE HELPED

We advanced them 70% LTV on the acquisition, which drastically decreased their cash to close in relation to other lenders they were working with. This help allowed them to acquire 13 townhouse lots for acquisition and vertical build in a desirable, up and coming neighborhood, currently prime for real estate development.

CUSTOMER FEEDBACK

Erik Eichinger, North Carolina’s Territory Manager has worked hard to earn iFC’s great reputation in Charlotte. Says this builder, “In terms of townhouse development, no one is better in Charlotte than iFC.” 

CAN WE HELP YOU FUND YOUR NEXT NEW CONSTRUCTION REAL ESTATE INVESTMENT? 

LET’S GET IN TOUCH! 

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