I Fund Philly’s, Bryan Ziegenfuse, Closed on Initial Funding for a Port Richmond Project Being Managed by Raza Homes Llc
I Fund Philly completes initial closing on Port Richmond project with owner Irfan Raza from Raza Homes. “We are excited about the partnership and look forward to supporting Raza Homes in reaching their investment goals for 2019,” said Bryan Ziegenfuse.
Following the arrival of managing partner, Bryan Ziegenfuse, I Fund Philly (iFP) has closed on the initial funding of a residential single-family project in the Port Richmond neighborhood of Philadelphia. I Fund Philly entered in an agreement with Raza Homes to fund both the acquisition and numerous value add repairs to enhance the value of the property. Raza Homes will then look to stabilize the cash flows of the property by securing a lease with a qualified tenant.
Through IFP’s simplified asset-based lending approach, the team at IFP was able to obtain underwriting approval within 24 hours and was able to streamline the back off processing to expedite the closing timeline. The IFP process, while currently localized to the Philadelphia region and South New Jersey, is focused on value-add steps to alleviate back and forth between the lender, title company, appraiser, realtor, seller, and buyer. The team at I Fund Philly takes a simplified approach to address customers’ challenges, as opposed to the complex and cumbersome approach of traditional lenders. One of the major challenges for members of the real estate community has historically been a lack of insight and timely communication into the status of closing. This lack of insight is not only frustrating but can delay the preparation and completion of projects resulting in significant and unnecessary costs. To address these needs, the iFP approach is rooted in total transparency throughout the lending process.
“With an abundance of competition in a crowded asset-based lending market, the Port Richmond project with Raza Homes was a thoughtful way for I Fund Philly to create value and build our relationship with a long-term real estate investor,” said Managing Partner Bryan Ziegenfuse.
Throughout 2019, I Fund Philly will continue to roll out enhancements to its platform covering many aspects of fix and flip, and construction loan management process. “Each of our scheduled enhancements is designed to streamline customer-facing processes, focusing on value-added steps as well as helping mitigate inherent risks within our asset-based lending products,” said Bryan Ziegenfuse.
About I Fund Philly LLC
About Raza Homes LLC
To learn more about the fix and flip and construction loans offered by I Fund Philly (iFP), Bryan Ziegenfuse and the iFP management team you can visit http://www.ifundphilly.com/.