Having used us in the past to purchase a lot in the sought after community of Silverleaf, our borrower came back to Capital Fund I again to purchase another lot. By cross collateralizing the purchase with the free and clear developed lot, our borrower was able to put the financing towards purchasing the new lot.
Our borrower, who is also an active real estate agent, as well as a licensed and active luxury home builder, plans to develop the new lot so that it is ready to build on, and will then list it back onto the market, sometimes including architectural plans that have been approved by the community’s HOA.
By having a pre-approved plan ready, the buyer will already have saved 6-12 months of waiting and stress, and will only have to wait for the completion of their home with the interior finishes of their desires. This is a great strategy that our borrower has completed and found successful multiple times now, and we are happy to be a part of such a unique game plan for real estate investments.
- Loan Amount: $600,000
- Rate: 10.9%
- Loan Term: 12 Months
- Loan Type: Commercial Bridge
- Property Type: Land