All of our CASE STUDIES, like this Houston, TX, new construction case study with a loan amount of $5,924,734, 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: Houston, TX: $5,924,734
Location: Houston, TX
Loan Amount: $5,924,734
iFC Loan Product: New Construction
Property Type: Single Family (25)
Loan Closing Date: 12/01/23
Purchase Price: $250,000
Construction Budget: $6,220,275
ARV: $8,750,000
Loan to cost: 85%
Exit Strategy: Hold
Length of Loan: 12 months
CASE STUDY DETAILS: New Construction: Houston, TX: $5,924,734
This new construction borrower in Houston, TX came to us as a referral from a local balance sheet lender who did not have the capacity to fund this scale of project all at once.
The borrower had a 49-unit subdivision underway. They had already begun work on the 49 lots, but only had funding in place to build on 24 of them. They still needed funding to build on the additional 25 lots.
However, the borrower was maxed out on their exposure from their local bank. Another alternative lender they spoke with was only able to fund 10 builds at a time.
HOW WE HELPED
iFC was able to fund all 25 remaining deals at favorable leverage. In addition, we were able to credit the borrower for already completing some of their budgeted line items. This allowed us to perform a draw at closing, which helped the borrower maintain their liquidity in good standing for the project.
Because we could offer this borrower such creativity and flexibility in funding, it gave them the ability to execute multiple projects at once, ultimately saving them time and money, and helping them to reach their real estate investment goals more quickly.
CUSTOMER FEEBACK
Says the borrower, “We really liked the way your team operates and gets things done. Thank you Jack and i Fund Cities!”
CAN WE HELP YOU FUND YOUR NEXT NEW CONSTRUCTION REAL ESTATE INVESTMENT?