In June 2019, DLP Direct Lending Partners worked alongside a new client, based out of South Carolina, to expedite funding for a large renovation project. In order to renovate and capitalize on their portfolio of single-family homes, the client’s objective was to obtain capital by early June.
Having already established a two-year relationship with DLP Direct Lending Partners through Brion Yarnell, the company’s Vice President of Partnerships and Marketing, the client reached out to request help in providing them with the capital needed to renovate and sell their properties.
With less than three-weeks before the intended close date, DLP Direct Lending Partners provided significant value by spearheading the title company selection. They assisted in the title search and reporting process for over 300 properties and then decided to switch to a title company that was more efficient and less expensive. Yarnell and the new client toured over 20 properties in Pennsylvania and New Jersey to assess the renovation projects, as well as to connect the client with a contractor who could help them complete the projects and achieve their goals.
“Spending eight hours in the car with Alex touring properties enabled me to fully understand the goals that he had set for our client. It also allowed me to see the incredible opportunity within his portfolio and prepare the best capital partnership structure for a long-term relationship,” commented Yarnell.
In just three weeks, the DLP Direct Lending Partners team analyzed over 300 properties, engaged two title companies, managed search, reporting, and title clearing, completed legal process, and prepared over 300 mortgages in order to meet the client’s closing deadline.
The $6 million loan not only gives the client the operating capital needed to rapidly renovate and sell the properties, it will also give them the ability to pay off their existing lien holder.
Looking for a partner for your real estate investments? DLP Direct Lending Partners has the experience in flipping our own deals and funding many more. If you’re ready to explore working with a lending partner who has the experience and capital to help you fund your deals, we invite you to set-up a no-obligation discovery call.