All of our CASE STUDIES, like this Charlotte, NC, New Construction case study for a loan in the amount of $820,250, 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: Charlotte, NC: $820,250
Location: Charlotte, NC
Loan Amount: $820,250
iFC Loan Product: Teardown and New Construction
Property Type: Single-Family Residential
Loan Closing Date: 01/28/25
Purchase Price: $410,000
Construction Budget: $540,000
ARV: $1,360,000
Loan to cost: 85%
Exit Strategy: Teardown, Build and Sell
Length of Loan: 18 Months
CASE STUDY DETAILS: New Construction: Charlotte, NC: $820,250
Erik Eichinger, i Fund Cities’ Charlotte, North Carolina Manager and Loan Officer, worked with this repeat borrower, who uses iFC for all of their funding needs.
HOW WE HELPED
This property was purchased out of an estate, and the investor needed to work quickly.
Working through the heirs of the property was a difficult challenge for the borrowers. Once that process was complete, it was essential that the investors honored their commitment for a fast close.
IFC was able to close ONE week after all the Seller’s issues were resolved!
Says Erik, “There was not a bank in North Carolina that could have closed that fast.”
BENEFIT FOR BORROWER
In addition to the ultra speedy close, we gave this borrower great terms, which allowed them to do more deals.
CUSTOMER FEEDBACK
“Thank you for always being the Swiss army knife that can tackle any situation and FAST!”