Bryan R. Ziegenfuse and I Fund Philly Forecast a Growing Demand for Renovated Real Estate in the Philadelphia Area
I Fund Philly gained experience managing partner Bryan R. Ziegenfuse at the beginning of 2019 as the firm forecasts a growing demand for newly renovated real estate in the Philadelphia area and other metropolitan hubs. Private lending is a $50B industry and growing. There are numerous macro trends within the fundamentals of the residential housing market that will continue to support iFP’s asset-based lending approach. iFP is well positioned for long term success in a market that has seen a growing number of institutional investors, an increased demand for renovated housing that outpaces supply, and low default rates for experienced operators.
Movement into urban areas is predicted to increasingly intensify as residents seek new jobs, vibrant social living, walkability, easy transportation, restaurants and entertainment options. Through iFP’s and Bryan R. Ziegenfuse’s own interviewing of local realtors in Philadelphia during December 2018 into January 2019, those local realtors continued to see strong demand for renovated homes. This movement has created a demand for newly renovated housing that far outpaces the current supply. Highly desirable areas have limited “mass” development opportunities for large developers creating strong support for small/medium size developers. I Fund Philly and Bryan Zeigenfuse hope to improve the process by which this supply is created by connecting investors with developers through their innovative technology platform to meet this growing demand for new development.
In neighborhoods that still have many vacant buildings, there is potential to turn these spaces into affordable homes. Local nonprofits, individuals and developers are already rehabilitating them to create affordable homeownership and rental opportunities. Their success poses the question of whether similar projects can create affordable housing for members of the community.
I Fund Philly and Bryan Ziegenfuse are facilitating three specific types of loans in the real estate community through their website – bridge loans, construction loans, and rental loans. Bridge loans consist of short-term financing to help customers remarket, reposition, or refinance projects. The construction loans are intended for customers looking for financial support of projects that require upgrades, rehab, and renovations. Finally, members of the community looking to build a rental portfolio can apply for loans to grow the number properties generating income.
Bryan R. Ziegenfuse further added that right now, IFP is working in connecting the communities within Philadelphia and the surrounding suburbs that are residing in South New Jersey, Delaware County, Bucks County and Montgomery County before expanding its business outside their area.
There are large numbers of sub markets that are located across the United States and have underdeveloped real estate communities in comparison to the real estate communities that are located in New York City, Los Angeles, Miami and many more says the managing partner of I Fund Philly (IFP), Bryan R. Ziegenfuse.
To learn more about the loans offered by I Fund Philly (iFP), Bryan Ziegenfuse and the iFP management team you can visit http://www.ifundphilly.com/.