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CASE STUDY: $136K: New Construction: Gastonia, NC

Gastonia, NC

Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios! 

Highlights:

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 

LTC: 85% 

ARV: $225,000 

Length of Loan: 12 months 

 

Overview 

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. 

Customer Feedback:  

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!” 

Recent Resources

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CASE STUDY: $460K: SFR Bridge Loan: Madisonville, LA

Says the client, “I called and talked to Caitlin Davis on a Saturday after being recommended to i Fund Cities in an investor group I belong to. I explained my nightmare situation with my current lender/scam company, that I only had a week to close because I had it been pushed back twice already.  

 

Caitlin took the ball running, offering me a way out. She worked every single day, even during the weekend, and was on top of everything. I found my new go-to for all my investment lending needs!” 

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