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Updated 2 months ago on . Most recent reply
Spec Build - How to finance?
How to finance your first spec build? Looking for guidance on options.
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#1 Land & New Construction Contributor
- Developer
- Columbus, OH
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#1 Land & New Construction Contributor
- Developer
- Columbus, OH
Quote from @Robert Jackson:
How to finance your first spec build? Looking for guidance on options.
new builds aren't hard to finance and I would argue they are preferred to existing fix and flip loans, especially if you have experience. banks look at your experience, your builder's experience, loan structure, permits, etc you need to get an experienced builder familiar with advanced underwriting and negotiations with local, regional, and national lenders. in columbus we do ground up construction for clients at a 20% discount so they can BRRRR out of the new build with equity and we have pages and pages of data on what we build and why and it's all supported by market statistics.
- Robert Ellis