All of our CASE STUDIES, like this Vero Beach, FL fix and flip case study for a loan in the amount of $827,730, 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: Fix and Flip: Vero Beach, FL: $827,730
Location: Vero Beach, FL
Loan Amount: $827,730
iFC Loan Product: Fix and Flip
Property Type: Single Family Home
Loan Closing Date: 09/11/24
Purchase Price: $800,000
Construction Budget: $119,700
ARV: $1,550,000
Loan to cost: 90%
Exit Strategy: Fix to Sell
Length of Loan: 12 months
CASE STUDY DETAILS: Fix and Flip: Vero Beach, FL: $827,730
Loan Officer Chris Carradorini saw an Instagram reel of this Florida fix and flip investor’s recent project and fell in love with the product the investor was putting out.
It was clear that the investor was looking to scale and take his business to the next level. Chris reached out to introduce himself and to explain how he and i Fund Cities could be assets to this client’s fix and flip model.
Chris learned that the borrower was doing the majority of his business with one hard money lender. But, as the investor began to scale, he realized the importance of diversifying his capital stack to ensure the sustained success of his business.
At the same time, this fix and flip investor did not want to feel like just a number in a system, dealing with more than a dozen different employees to close his loan, as is often the case with other lenders. He was looking for a lending partner with whom he could form a strong, personal, long-term relationship.
HOW WE HELPED
After a few deep-dive discussions with the borrower on what he cared about most in a lending partner and what gaps he faced in the past with other lenders, we decided to begin a long-term partnership, starting with this first deal.
i Fund Cities was able to max this client out on leverage for his luxury flip. We also closed the deal in a timely fashion with top-notch communication and efficiency.