Developer needed some quick cash-out of an almost complete spec home to pursue another development opportunity. A quick analysis revealed obvious value, as the lot itself was worth in excess of $700,000, and the loan was approved. Property to be listed on the market upon completion at $1,800,000. Similar to almost all other SFG construction loans, the income profitability associated with unconventional speed and certainty more than outweighs the cost of funds.
Cash-out on Spec Home
Mercer Island, WA