Recent Funding Deals

Done Deal: Gulf Coast New Construction Single-Family Home

Done Deal: Gulf Coast New Construction Single-Family Home

Gulf Coast New Construction Single-Family Home

New Construction Loan funded in Clearwater, FL

Recently, one of DLP Lending Partners’ top-tier Line of Credit borrowers came to us with a request to finance the new construction of a single-family home located on the beautiful Gulf Coast of Florida. Their overall goal was to build and sell this new home within a 9 month period.

This particular borrower brought a wealth of experience to the table, having already flipped 21 properties, 11 of which were financed by DLP Lending Partners in 2019. Needless to say, this level of expertise and success is exactly what we like to see when funding Build2Sell loans, so we agreed to finance the borrower once again. We funded the deal at the full $172,500 requested with a 75% LTV and interest rate of 9.99% over 1 year.

Over the course of 9 months the borrower designed and constructed a stunningly beautiful single-family home. They didn’t miss a single detail inside or out. The open concept floorplan combined with a contemporary interior truly brought the home to life. Likewise, great attention was paid to ensure that the exterior had the necessary curb appeal to attract buyers. Clearly, their design concept worked! They successfully purchased, built, and sold the home for $230,000 within the 9 months period they had planned for.

We loved seeing yet another successful project on the books for our borrower and look forward to funding their future projects.


The Borrower

Borrower Experience Level: At the time of funding the loan, this top tier borrower was extremely experienced and had successfully flipped 21 homes.
Line of Credit Borrower: Yes

The Loan

Loan Type: New Construction
Loan Amount: $172,500
Loan to Value: 75%
Interest Rate: 9.99%
Length of Loan: 12 months
Purchase to Sell Length: 9 months


Want to learn more about private lending? At Direct Lending Partners, we’re here to help. Discuss your growth with a funding specialist. Call us at (484) 285–8830, send us an email, or click the link below!

$180,000 Funded for a Single-family Renovation in Philadelphia, PA

$180,000 Funded for a Single-family Renovation in Philadelphia, PA

DLP Direct Lending Partners was the preferred lender for an experienced flipper in Philadelphia. We provided 90% of the funds they needed to purchase the property, as well as complete the necessary renovations.

 

When renovations were successfully completed, the value of the property increased from $80,000 to $305,000 and the borrower sold the property.

$456,000 Funded for a Single-family Renovation in St. Petersburg, FL

$456,000 Funded for a Single-family Renovation in St. Petersburg, FL

DLP Direct Lending Partners provided an experienced home builder who had funds totaling $456,000.

 

As a result of the loan, the borrower divided the property (pictured above) into three parcels and built three homes under our SFR Bridge Loan and sold all three for a total of $765,000.

$3.481MM Funded to Transform a Warehouse into 23 Luxury Apartments in Bethlehem, PA

DLP Direct Lending Partners worked with two investors who were in need of quick funding on their upcoming real estate project located on the north side of Bethlehem, Pennsylvania. After closing expeditiously, the investors began the renovation process shortly after.

 

“We were dealing with a 1031 exchange and we needed to be able to move fast and work with a lender who understood the complexities of the financing. Direct Lending Partners provided us with flexibility and speed. Everyone we worked with was great.” – Garrett B.

Their acquired distressed warehouse plans include $3 million in renovation costs, positioning the value of the property at $5.4 million once renovations are completed.


Are you looking for fast and reliable real estate funding? Let’s discuss.

Contact:

Craig Yarnell

800-350-8061

[email protected]

$1.4 MM Funded for a 56-unit Multi-Family in Chattanooga, TN

$1.4 MM Funded for a 56-unit Multi-Family in Chattanooga, TN

Direct Lending Partners recently worked with new investors who were anticipating the acquisition of Pinewood Apartments in West Chattanooga, Tennessee. Prior to consulting with DLP Direct Lending Partners, the investors were working with a lender who could not fund or approve their loan at the last minute. With only three weeks left to close on their deal, the investors were at risk of losing their deposits. Focusing on our clients and the time-sensitive opportunity they were presented with, Direct Lending Partners was able to provide a fast-turnaround and close on the loan ahead of schedule– in only 15 days.

 

Once renovations are completed, the after repair value (ARV) on the property is expected to increase to $2.2 million.

 

Are you looking for fast and reliable real estate funding? Let’s discuss

Contact:
Nader Hack
484-403-1539 (office)
518-536-4008 (cell)
[email protected]

 

Harrisburg, PA

Harrisburg, PA

Funding Details

Loan Amount: $144,000

Closing Date: December 13, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

Durham, NC

Durham, NC

Funding Details

Loan Amount: $328,500

Closing Date: December 11, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

Easton, PA

Easton, PA

Funding Details

Loan Amount: $79,975

Closing Date: December 4, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

Tobyhanna, PA

Tobyhanna, PA

Funding Details

Loan Amount: $91,000

Closing Date: November 29, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

St. Petersburg, FL

St. Petersburg, FL

Funding Details

Loan Amount: $200,000

Closing Date: November 22, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

Charleston, WV

Charleston, WV

Funding Details

Loan Amount: $73,598

Closing Date: November 3, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab

Charleston, SC

Charleston, SC

Funding Details

Loan Amount: $169,000

Closing Date: October 30, 2017

Type of Property: Single-family Home

Type of Loan: Acquisition & Rehab