All of our CASE STUDIES, like this Greenville, SC, new construction case study for a loan in the amount of $764,403, 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: Greenville, SC
Loan Amount: $764,403
iFC Loan Product: New Construction
Property Type: Single Family Home
Loan Closing Date: 06/11/2024
Purchase Price: $250,00
Construction Budget: $649,298
ARV: $1,250,000
Loan to cost: 85%
Exit Strategy: Sell
Length of Loan: 12 months
CASE STUDY DETAILS: New Construction: Greenville, SC: $764,403
Loan Officer Vincent DeMarco saw this Greenville, SC, builders’ projects on Zillow and loved the product he was putting out. Vincent gave him a call to introduce himself and talk with him about how i Fund Cities can help builders like him with new construction loans.
Vincent learned that this borrower was getting capped at the number of spec homes that he could build at a time by his banking relationships. As an investor that builds 20-30 homes a year this was not sustainable for his business. In addition, his current hard money lender was not executing on closings. He needed a lender with fast and flexible capital that could support his long-term goals and growth.
HOW WE HELPED
iFC recognized this borrower’s experience, which allowed us to offer flexibility in funding for this project. We not only provided a large initial loan up front covering 70% of the purchase price of the lot, but we also closed our first deal together in less than two weeks!
The borrower benefited by finding a reliable lender that can support the growth of his business and that understands the business he is in and how it operates.
CUSTOMER FEEDBACK
Said this borrower, “The team was very accommodating and worked diligently with me to get our project funded quickly!”
CAN WE HELP YOU FUND YOUR NEXT NEW CONSTRUCTION REAL ESTATE INVESTMENT?