Viewcrest Capital provided acquisition plus construction combination financing
Project Highlights:
-Viewcrest Capital received a request for financing; evaluated and funded acquisition less than 48 hours after request.
-Viewcrest Capital provided both acquisition plus construction combination financing.
-Construction completed in 6 months; Pending 3 days after listing on MLS; Client realized profit in less than 7 months.
-Client achieved a return on invested capital in excess of 100%.
One of the most popular loan types that Viewcrest Capital offers is an acquisition plus construction combination loan. A client familiar with this loan option contacted Viewcrest Capital less than 48 hours prior to closing date of the acquisition. This turn of the century Seattle property required a full studs out remodel to be restored to its former self. After a rapid evaluation of market comps, construction budget and contractor bids, Viewcrest Capital provided an 85% loan-to-cost acquisition plus construction combination loan that included $120,000 in remodel construction financing. The project was completed and sold less than 7 months after acquisition. The end result was a successful project that returned to the client more than 100% of invested capital.