Cetan Funds recently funded a duplex construction loan in Springfield, Oregon for a local real estate investment company. The investors plan to have the duplex built and rented within 6-8 months and will quickly seek more permanent financing upon completion. Cetan Funds offered these investors who elected to self-contract as the general contractors on the build the benefits of a very quick and streamlined underwriting and closing process, as well as a simple construction draw process without all the restrictions and documentation requirements of traditional construction financing from a bank. Fast, streamlined financing allows these investors to focus on getting their new investment property built and cash-flowing quickly, and move on to the next big project.
$340,000 at 11.00% interest only on funds outstanding for 12 months