New Construction Loan

[Tobi Isaacs]

Who can I contact for best rates and terms for non-primary home, NEW build for STR?

[Garrett Brown]

Hey Tobi, welcome to the forums! A local bank in the area may be a great option or you can check out BiggerPockets investor-friendly lender finder https://www.biggerpockets.com/business/finder/lenders

[Logan Singleton]

Hi Tobi, Do you have any previous ground-up construction experience?

[Tobi Isaacs]

Just my personal home which was new construction. I’m not looking to be the GC (obv) on this and will be hiring a GC.  Does that change anything? 

[Logan Singleton]

Hi Tobi,

We might be able to assist. Can you please send me more details about this loan scenario via the email in my footer?

[Simmy Ahluwalia]

@Tobi Isaacs - we are ATL based and do a lot of SPEC construction in the area.  Reach out.

[Dylan Martin]

Quote from @Tobi Isaacs:

Just my personal home which was new construction. I’m not looking to be the GC (obv) on this and will be hiring a GC.  Does that change anything? 

 Hey Tobi - we should be able to help with this. Shoot me a PM as I will need to get a bit more info from you to vet this deal properly. Thanks! 

[Sean Richway]

@Tobi Isaacs  Just be careful here with anyone you talk to regarding the experience side on ground up deals.  As a lender myself, ground up is particularly difficult to get done without direct experience under your belt.  Most lenders will want to see 2-3 projects completed in the last 3-4 years in order to qualify.  Without that it will be a tough task to accomplish unless you work out some custom structure or bring the GC on the loan with you so you can leverage their direct experience.