$1,095,000
  • 1 Construction Completion + 2 Specs

  • West Bellevue, WA
  • Construction

This well capitalized west Bellevue builder took this property to the frame stage with his own funds, free and clear of any liens. With no intent of ever borrowing money, an unexpected opportunity came up to acquire two tear-down properties in the same neighborhood. Rather than go through the lengthy process of a bank loan, he turned to SFG to fund the remaining constuction plus the acquisition of the two homes. “With SFG’s loan, I’ve already dozed the two spec homes and secured buyers for each. If the bank had their way I’d still be delivering documentation with a hand-truck.” At left is a photo of the subject house when SFG first met this builder. Flip through the photo gallery to see the progress since funding, including the homes that were acquired with SFG’s private money loan. UPDATE: The property you see here has been completed and sold. SFG provided a favorable deed release provision that allowed the transaction to succeed while continuing with the construction loan on the second property. Check back regularly, construction on #2 is proceeding at lightning speed.