Lima One Capital financed this New Construction loan for a tear down/rebuild project in South Florida. The investor came to us in February 2020 just before the pandemic shut down everything, which caused a significant delay in getting the build started.

The project’s biggest hurdle came through permitting. Under normal circumstances, it would have taken 30 to 45 days to obtain the proper permits. Because of COVID, permitting was delayed by four months and took almost 100 days for the investor to get the project out of permitting.

The investor was concerned about the delay and how it would affect the sale price of the house and how the pandemic might affect the length of time he would end up holding onto the home. To his surprise, the house was under contract before the drywall was up.

New Construction Loan By the Numbers

When lockdown began, lumber and plywood prices skyrocketed because everything was shut down. Those were the biggest unforeseen issues, but it worked out great for the investor because of the way the market boomed.

Lima One closed the loan in February 2020, and despite a four-month delay, the investor was able to finish the 5-bedroom, 4-bathroom house by October. With the ease of Lima One’s online portal and support from Lima One staff, the investor was able to finish construction in just under five months – a timeline he was very pleased with.


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What I like about working with Lima One is the online portal and that interface. It’s really great because I’ve worked with other construction lenders before, and this was my first deal I had done with Lima. The online portal gave us the liberty to go in schedule the values and schedule the inspection along with the times and dates, so the staff was there to meet the inspector. It was a very easy and very seamless process.

Palm Beach Gardens, FL Real Estate Investor