i FUND CITIES - Fast Multifamily Bridge Loans for Richmond, Virginia, Real Estate Investors
i Fund Cities is an alternative, non-bank, private money lender providing fast, flexible, reliable, and investor-friendly financing to real estate investors in and around Richmond, Virginia. If you are investing near Richmond and you need investment funding for purchase only, new construction, rehab, cash-out or rate and term refinance, BRRRR, short-term rentals, build to rent, or otherwise, then give us a shout!
Multifamily Bridge Loan Rates as Low as 7.5% in Richmond, Virginia
i Fund Cities’ Multifamily Bridge Loans get you fast, flexible, and reliable funds for your next Richmond, Virginia real estate property investment!
What Makes Our Richmond, Virginia, Multifamily Bridge Loans So Awesome?
Hey Richmond, Virginia investors! Need a Kick A$$ Multifamily Bridge Loan?
Multifamily Bridge Loans in Richmond, Virginia
What are i Fund Cities’ current Multifamily Bridge Loan rates in Richmond, VA?
i Fund Cities offers Multifamily Bridge Loan rates as low as 7.5%.
Word of caution: do not believe the low rate marketing gimmicks you see out there in the lending world. Rates are always determined by the following criteria:
Real estate asset
Investor credit score
What length of loan term does i Fund Cities offer for Multifamily Bridge Loans in Richmond, VA?
iFC offers Multifamily Bridge Loan terms of up to 24 months.
Do you lend on both a property purchase and the repairs for Multifamily Bridge Properties in Richmond, VA?
Yes. We lend up to 80% of the purchase price of the asset, and 100% of construction costs in and around Richmond, VA.
What property types does iFC offer Multifamily Bridge Loans for in Richmond, VA?
We offer Multifamily Bridge Loans on the following property types:
Are there any exceptions to property types for your Multifamily Bridge Loans?
We do not fund properties in Richmond, VA that are designated as “rural.”
Does iFC have a minimum credit score for Multifamily Bridge Loans in Richmond, VA?
Yes. For Multifamily Bridge Loans, we require a minimum FICO score of 600.
Does iFC have minimum and maximum loan amounts for Multifamily Bridge Loans?
Our minimum loan amount in Richmond, VA, is $50K per door, and our maximum loan amount is $50M.
What states does iFC lend in?
Can I borrow from iFC if I am from another country?
iFC can provide Multifamily Bridge Loans to both U.S. Citizens and Foreign Nationals.
What documents do you need from me for underwriting Multifamily Bridge Loans in Richmond, VA?
For Multifamily Bridge Loans in Richmond, VA, our underwriting process is less extensive than a traditional bank. We also make it as transparent and straightforward as possible.Documents needed:
1. Contact info for Buyer (and Guarantors), and Title, and Insurance Companies
2. Loan Application + Driver’s License
3. Agreement of Sale or Deed
4. Buyer’s Real Estate Experience/History
5. Project/Entity Information
6. Construction Budget
7. 2-Month’s Bank Statements
8. ACH Wire Transfer Info and W-9
Do you do an appraisal for Multifamily Bridge Loans in Richmond, VA?
Do I need a business entity to get an iFC Multifamily Bridge Loan in Richmond, VA?
Is there a prepayment penalty?
Can I (or a friend or family member) live in my Multifamily property?
Multifamily Real Estate Market in Richmond
Richmond, VA, Average Home Prices for Multifamily Bridge Properties
Every real estate investor, especially Multifamily Bridge investors, will benefit from learning how to analyze local market conditions when looking to invest in property in Richmond, VA. There are many things to consider when deciding whether Richmond, VA, is a good market for Multifamily Bridge investments. Factors such as the city’s “Average Home Value,” “Homeownership Rate,” and “Median Household Income,” can help investors understand the metrics of buyers and renters in Richmond. Multifamily Bridge investors can also check out Richmond's “Average Home Remodeling Costs,” and “Median Monthly Housing Costs.” These metrics will help investors calculate the costs of fixing, flipping, and renting Richmond properties. When it comes to selling, every investor wants to make more than they have spent, of course, so it’s helpful to know whether home prices are going up or down in Richmond, as rising home prices can signal a stronger market for both selling and renting properties.
Be a Multifamily Pro in Richmond: Free 85+ Item Construction Checklist
Average Days on Market (DOM) Data for Richmond, VA, Multifamily Bridge
Richmond, VA, Real Estate Inventory, Multifamily Bridge Properties
Key Growth Factors in the Richmond Real Estate Market
Commercial: Richmond businesses include diversified industries such as Health and Medical, Tourism and Hospitality, Technology, Manufacturing, and Professional Services.
Economy: The development of Richmond’s top companies and industries will continue to be key drivers in the growth of the city’s real estate market.
Education: Graduates from local Richmond schools, as well as those from nearby schools and universities, provide a foundation for the growth of the city’s businesses and industries.