All of our CASE STUDIES, like this Charlotte, NC new construction purchase loan case study for a loan in the amount of $2,800,000 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
Location: Charlotte, NC
Loan Amount: $2,800,000
iFC Loan Product: New Construction
Property Type: SFH
Loan Closing Date: 05/25
Purchase Price: $1,100,000
Construction Budget: $2,256,000
ARV: $5,200,000
LTC: 85%
Exit Strategy: Sell
Length of Loan: 24 months
CASE STUDY DETAILS: NEW CONSTRUCTION: Charlotte, NC
This Charlotte, NC builder is doing approximately 50 projects a year, including some 40 custom homes and 10 spec homes. We learned of the investor through mutual connections with other luxury spec home builders.
The investor was looking to close a $2.8M new construction purchase loan in a week, unheard of in our industry.
HOW WE HELPED
We worked extra hours to make the loan come together. This enabled the borrower to win the offer against some other very competitive groups based on his confidence in our ability to close on time.
CUSTOMER BENEFIT
The real estate agent who brought the builder this deal will now bring him many more deals, after seeing how fast we executed and got the deal closed.