All of our CASE STUDIES, like this Old East Dallas, TX, new construction case study in the amount of $1,005,000, 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: New Construction: Old East Dallas, TX: $1,005,000
Location: Old East Dallas, TX
Loan Amount: $1,005,000
iFC Loan Product: New Construction
Property Type: Attached Single Family Homes (2)
Loan Closing Date: 04/04/24
Purchase Price: $490,000
Construction Budget: $850,000
ARV: $1,970,000
Loan to cost: 75%
Exit Strategy: Sell
Length of Loan: 12 months
CASE STUDY DETAILS: New Construction: Old East Dallas, TX: $1,005,000
Jack at i Fund Cities had worked with the General Contractor on this project in Old East Dallas, TX and was introduced to the investor on the deal through a referral.
The property owner could not qualify for a construction loan due to their experience level and they did not have time to wait for bank funding on the property.
HOW WE HELPED
iFC took a very custom approach to this loan. We approved the deal based on the experience of the General Contractor, who was willing to sign on the loan with the sponsor, while taking into account the successful track record of repeat business between the GC and the investor.
We disbursed $155,000 of working capital to the sponsor at closing to kick-start the construction process and speed up the borrower’s timeline to build and sell the properties.
The borrower gained both speed and flexibility by working with i Fund Cities. We helped this builder get their loan closed quickly and get the project underway!
CUSTOMER FEEDBACK
We love to hear that the investors who we have helped are already looking to their next deal! “We have many more deals to come with you!” said this borrower.
CAN WE HELP YOU FUND YOUR NEXT NEW CONSTRUCTION REAL ESTATE INVESTMENT?