General Question About Deal Structure

[Omer Esiner]

So my question is more for project/deal sponsors and is related to process.

How do you structure deals with investors when bidding on properties with a very short timeline?

We're currently putting SFH new construction deals together in Austin and we're often forced to close on target properties within days. In order to secure the properties, we've been using our own cash and amending the LLC to include investors after closing. This is NOT ideal as it involves additional paper work and fees needed to modify LLC/Operating agreements . We're also havening issues with lenders not wanting to provide both cash-out refis and construction loans on dirt that we own outright. Basically lenders say its one or the other.

Anybody have experience with this type of situation?  

Many thanks in advance!