Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios!
Location: Gastonia, NC
Loan Amount: $136,000
iFC Loan Product: New Construction
Property Type: SFR
Loan Closing Date: 4/5/2022
Purchase Price: (Land Price): $15,000
Construction Budget: $130,000
Length of Loan: 12 months
We met this client at a weekly real estate meetup.
The customer owned several empty lots in the area of Gastonia, North Carolina but the client was using a private funder and he was only able to build one house at time.
We were able to take the borrower’s equity in the purchased lots that he owned free and clear and help him fund two new construction projects. He did this not only by using zero money out of his own pocket, but the client also walked away with CASH at CLOSING!
Key Benefit for Borrower
The key loan benefit for this borrower was that he was able to scale! He can now build multiple projects at a time.
The customer was ecstatic. “iFC has unleashed us as builders,” he said. “Previously, we were building one or two new constructions at a time, we are now able to do 5 or more at a time!”