Introduction
Are you a builder or developer struggling to secure the necessary funds for your construction projects? It can be frustrating to have the plans, permits, and land ready for development, but lack the financial support to bring your vision to life. That’s where GL&L Holdings comes in. In this case study, we’ll share the inspiring success story of a young builder who turned to GL&L Holdings for assistance and made an impressive net profit of $51,900 in just 6 months. We’ll explore the challenges faced by the builder, the solid partnership forged with GL&L Holdings, and the breakdown of the deal that ultimately led to this success. If you’re tired of struggling to finance your construction projects and dream of turning them into profitable ventures, keep reading to learn how GL&L Holdings can be your solution.
The Challenge
A young builder recently purchased a lot in Hemstead, TX, and developed architect and engineering plans, as well as obtaining the necessary permits. However, he needed assistance with the funds for vertical construction.
GL&L Holdings To The Rescue
GL&L Holdings stepped in and provided a New Construction loan of $178,000, based on the approved plans, permits, and a draw schedule. The completed house had a value of $295,000, resulting in a loan-to-value ratio of 61%.
The draw schedule included 5 separate draws, ensuring that the client received the necessary funds at each stage of construction. With our support, he completed the house in just 6 months and successfully sold it for $310,000.
Throughout the construction process, we maintained clear and open lines of communication with the investor, addressing his needs, presenting practical solutions, and providing positive and reassuring guidance.
Breaking Down the Deal
Let’s take a detailed look at the deal:
Sales Price:$310,000
Expenses:
Title Commitment, Recording, etc.: $3,250
Commissions: $18,600
Land Cost: $33,500
Plans & Permits: $10,250
Loan Amount: $178,000
Debt Service & Maintenance: $14,500
Net Profit: $51,900
Contact GL&L Holdings
This success story reflects how GL&L Holdings helps builders turn their visions into profitable ventures. Our fast approval, competitive rates, flexible loan options, and personalized service, enable real estate investors to complete projects on time and generate substantial profits.
If you’re a builder or developer with dreams of transforming your construction projects into profitable ventures, we encourage you to reach out to us. Our commitment to building relationships means we are more than just a lender – we are your partner in success.
Contact GL&L Holdings today to learn how we can assist you in achieving your real estate investment goals.
