The borrower had paid $2.3m for this prime residential lot in one of the Coachella Valley’s most prestigious communities (Bighorn). The strategy was to build an 11,000 sf. spec house, but given present market conditions, the borrower wisely elected to reduce the size of the house to one more reflective of present buyer demand. This necessitated new improvement plans, new engineering, another trip through the architectural review committee and the City approval process, among other requirements. Seattle Funding Group was there to assist the Sponsor with the costs associated with both the redesign and the time delays. See the completed home here.
SFG has the flexibility to provide small refinance loans and the experience to fund and mange much larger spec residential construction loans…just two of the many reasons to make SFG your first call, and why we remain today’s leader in private money lending.