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Updated over 7 years ago on . Most recent reply
Hard money for new construction
I'm looking for hard money for the construction of a new home and I'm wondering if anyone has any lenders that they'd recommend. I've recently purchased a lot in Shreveport, Louisiana. I've got the lot cleared and the housepad is built. I have all contractors lined up and my building permit already. I'm looking for hard money for the construction costs. I purchased the lot for 10k and I estimated construction at 90k. The ARV will be between 210k to 240k. I've already spoken with Lima One Capital, but seeing many bad reviews from them, I'm hoping I can find a better lender to use.
Most Popular Reply
Alex, that's good to hear that they can close so fast.
Jay Hinrichs The numbers are very attractive because I'm keeping my construction costs low by contracting the house myself and performing a lot of the work myself. It will take a little longer to build, but the savings in labor are going to be worth it in the end I believe. And I have spent a painstaking amount of time sourcing out materials and which contractors I'm going to use. So to answer your question, I do believe I will be able to replicate this process. Time will tell after I'm through with this first project.