New Orleans, LA – New Construction

The Opportunity

A Louisiana builder found an available lot in New Orleans’ Lower Ninth Ward. He wanted to build workforce-level housing on the property.

With the lot already purchased, he looked for a ground-up construction loan that would finance the bulk of the build costs. He turned back to his preferred construction lender—Lima One Capital.

The Solution

Lima One financed 85% of the rehab budget plus land cost with a 13-month interest-only loan. Lima One’s in-house construction draw team provided quick turnarounds on draw requests during the term of the loan, and the investor completed the project on a smooth timeline.

The builder sold the property for $330,000—realizing a tidy profit on the spec build investment. It was the fourth new construction build that Lima One had financed for the builder, and after selling this property he started his loan on his next build.