FB Pixel

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

CASE STUDY: $271,600: 30-Yr Rental Loan: Albany, OH

Says our borrower, “I’ve had the best investment home purchase experience ever with I Fund Cities. The process was a breeze. The loan officer was very knowledgeable, and the lending criteria is very transparent from the first phone call. There were no surprises! We closed in 10 days. I will definitely do more business with iFC.

Read More »

CASE STUDY: $500,000: New Construction: Magnolia, TX

After meeting with iFC’s solution-oriented Jack Pagliarini, we were able to find a full, hands-on approach to structuring the loan in a way that had the borrower bringing less to closing. The solution also gave the investors the flexibility to participate in the loan origination process and to help find an answer that was personalized to their needs. 

Read More »

CASE STUDY: $674,900: Portfolio New Construction: Salisbury, NC

This builder client is now building five new construction houses, without bringing any money to closing. 
In addition, by giving this client an 18-month loan, he has ample time to finish the construction of these houses, which would not have been the case with another lender offering 12 months with the threat of an extension fee.   

Read More »

i Fund Cities