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CASE STUDY: $464K Fix & Flip Loan: Indialantic, FL

BEFORE
AFTER
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: Indialantic, FL 

Loan Amount:  $464,000 

iFC Loan Product: Fix and Flip 

Property Type: Single Family Residential 

Loan Closing Date: 09/07/21 

 

Purchase Price: $470,000 

Construction Budget: $88,000 

ARV: 64%

Loan to Cost83% 

Length of Loan: 12 Months 

 

Overview 

This client is a successful fix and flip investor doing beautiful remodels in Indialantic, a cool beach town on Florida’s east coast. The client’s company was reaching its loan capacity with their current private lender and needed a new lender option that would allow them to keep their business growing.  

The client found i Fund Cities through Instagram. When they called and told us about their goals, and showed us the work that they had done, we were able to provide this client with funding to complete two of their current projects.  

Key Loan Benefit to Borrower:  

Not only did we help them complete their current projects, we are excited to grow with them by allowing them to originate loans with us up to $25 million. Now, there’s a sunny growth curve! 

Customer Feedback:  

The transaction was very smooth. Caitlin was incredible to work with. She kept us up to date on the progress of our loan and i Fund Cities was very fast for the closing. Highly recommend! 

Recent Resources

CASE STUDY: $165K Fix & Flip Loan: Philadelphia, PA

The ability of iFC to be flexible in this situation not only gave the investor enough capital to finish the three projects he was involved in but, since he had purchased the majority of his assets in 100% cash, the extra liquidity provided him enough capital to purchase a fourth project!  

The investor saw the value of using debt in a smart way, so much so that he decided to scale his business by using his cash for the 15% of equity needed in deals, and IFC for the remaining 85% in debt. 

Read More »

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