Welcome to iFundRE.net
With changing markets, the time to build is now! There is a reported shortage of available homes for both new and repeat buyers across much of the U.S.A. today. Builders are struggling to find good quality workers and the availability of materials seem to be fluctuating. Land values have and are increasing rapidly and raw land around major metropolitan areas are being scooped up by both large and small developers. iFundRE.net has been tuned and continues to offer specialty financing for both land purchase and construction. Some borrowers already own the land and are seeking funding for entitlement and and soft costs including plans, permits, engineering and even breaking ground for utilities, roads and pads. Each project and developer although approaching the same basic procedures, we found have unique circumstances. To overcome these challenges, we have available quite a range of financing. From the most aggressive and flexible (Private money) to more traditional financing such as bank and funds managed capital.
Let’s touch on these a bit more in detail:
Private money or hard money allows flexibility such as cross collateralization. In other words, we can lend on different properties with equity in addition to or instead of the project itself. Also it allows for more than one borrower to apply together, pooling their strengths together to reach the goal they might not attain separately. Also this funding is normally much faster to close and provide the capital ready to go. This type of financing can also enter into Joint Venture Agreements and profit share agreements when the collateral is limited and the borrower short on some areas of strength alone. The cost is more than traditional financing since it is more flexible and faster.
More traditional financing requires much more paperwork, stricter underwriting guidelines and takes more time to actually fund. They usually don’t cross collateralize other properties and have less flexibility but they offer more attractive terms such as lower interest rate and lower up front costs. They always require full appraisals that can consume weeks to months to obtain. Especially when the market is busy.
If you would like to present a specific project then it would be best if you could put together a simple 1 or 2 page overview or summary of the details. (Photos, maps or supporting data sometimes helps)
However, if you just want to discuss a deal, reach out to me and we can set a time to talk together. My email is the best way to reach me but if it’s more urgent or convenient, just call my office. My contact info can be found at the bottom of the website or click the “contact us” link in the top menu bar.