Hey everyone! All of our CASE STUDIES, like this New Construction case study in Greenville, South Carolina, 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: South Carolina
Location: Greenville, SC
Loan Amount: $1,134,920
iFC Loan Product: New Construction
Property Type: Single Family Residential
Loan Closing Date: 7/19/23
Purchase Price: $200,000
Construction Budget: $1,134,290
ARV: $2,362,000
Loan to cost: 85%
Exit Strategy: Sell
Length of Loan: 12 months
CASE STUDY: DETAILS: New Construction: South Carolina
Our regional loan officers are super knowledgeable when it comes to which developers are doing what in their areas. They often reach out when they see a developer who they think we could help with funding.
In this case, loan officer Erik Eichinger was following this successful Greenville, South Carolina, developer on Instagram. This connection ultimately fostered an investment relationship with the developer.
Erik found that the developer’s private money capital was tied up amongst other projects and they needed additional funds for their new construction projects.
We were able to blend the private capital to take down the land and give this builder 100% of their construction costs. Using his private money, along with our funding, this developer could scale to meet their vision.
CUSTOMER BENEFIT: New Construction: South Carolina
The borrower appreciated what we could add to his company’s already successful approach. He says, “iFC is the perfect complement to my current capital stack!”
(We were happy to help – let us know what we can do to help on your next project!)