All of our CASE STUDIES, like this San Antonio, TX, new construction case study in the amount of $964,200, 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: San Antonio, TX: $964,200
Location: San Antonio, TX
Loan Amount: $964,200
iFC Loan Product: New Construction
Property Type: Single Family Home
Loan Closing Date: 04/22/2024
Purchase Price: $200,000
Construction Budget: $1,085,600
ARV: $1,750,000
Loan to cost: 75%
Exit Strategy: Sell
Length of Loan: 15 months
CASE STUDY DETAILS: New Construction: San Antonio, TX: $964,200
Our Texas director, Jack found this new construction borrower in San Antonio, TX, after noticing some of their builds on Zillow. He reached out to connect with them about our funding opportunities.
The builder had executed on over 20 projects in San Antonio, in both the build to rent and the build to sell space.
The borrower had previously managed large projects, but this was their largest single-family project to date. While most of their funding had previously come from friends and family, and private money, they needed to tap into a larger amount of capital to support them in this deal.
HOW WE HELPED
iFC was able to approve this borrower for their first luxury build in their hometown market of San Antonio, when their private funds were limited. Additionally, we were able to offer the borrower a quick closing, which was important, as they had already begun construction on this property.
By coming to i Fund Cities for their deal, the borrower gained a lender with reliable execution in getting the deal to the closing table, while giving them the flexibility of a 15-month term to build and sell this property.
CUSTOMER FEEDBACK
“Thank you for getting us to the finish line!” said this happy San Antonio builder.
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