We’re proud to support borrowers who take on the challenge of revitalizing neighborhoods.
In our series, “Developing Stories,” read about some of these borrowers and their experiences.
FROM FRIENDSHIP TO FULL-TIME
Borrower Stories | Pittsburgh, PA | October 2024
Images: After pics of the Leechburg single-family home
Chad and Brandon have been friends since they met in eighth grade in Kiski. Chad became a police officer and Brandon worked in the uniform business, but they always dreamed of starting a business together. The “aha moment” came two years ago when they took the leap and self-financed a single-family house to renovate and flip in the Vandergrift neighborhood.
Eager to keep learning the real estate business, Chad joined a Facebook page for Pittsburgh investors. He often posted questions, and one day got a response from Kyleigh Haynes, one of our commercial lenders. And thus a pattern emerged: “I asked Kyleigh a million questions and she answered everyone. I wrote down all her answers,” says Chad.
In March 2024, Chad and Brandon got financing from Spring Garden Lending for a single-family home renovation in the Apollo neighborhood. They moved quickly, and the house was sold in July. Kyleigh went on to finance another deal for the pair in Leechburg and that too is now listed for sale. And their third deal with us is already under way back in Apollo!
Images: After pics of the Apollo single-family home
In the coming months, Chad and Brandon are going to become full time real estate developers, and they are seriously considering entering the rental market. Being their own GC doesn’t hurt their progress or bottom line. They do everything except the drywall!
Kyleigh, Chad, and Brandon like and respect each other. “We love Kyleigh. She is straightforward, responsive, and helpful. There are many reasons for appreciating Spring Garden Lending—rates are decent, and they fund a good chunk of the project. The company is good for a small business!” Kyleigh chimes in, “I love Chad and Brandon’s energy and can always hear in their voices how passionate they are about their investing!”
In this challenging market, Spring Garden Lending is doing its part lending to developers like Chad and Brandon who work hard to provide good, affordable housing options and opportunities for all homebuyers.
Spring Garden Lending supports developers with quick closings and rapid draws at the core of our 100% construction financing. We have our customers’ backs every step of the way.
– Terry Fisher, Senior Vice President, Pittsburgh Market Director