New Construction Loan – Nashville, TN
Ground-up construction is a huge portion of Lima One’s business. Builders from across the country approach us in need of funding for projects ranging from build to rent housing to model homes to teardown/rebuild projects.
The Tennessee-based investor behind this deal sought funding to build three single-family units. From the interior to the exterior, the units in this triplex are designed with modern-day renters in mind. Located just outside of downtown Nashville, this investor took advantage of a great location for his construction project.
New Construction Loan By the Numbers
- Loan Amount: $736K
- 3 units
- ARV: $1.07M
- Loan to ARV: 69%
- Loan Term: 30 years
- Purchase Price: $192,500
- Construction Budget: $601K