Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago, 05/19/2021

Account Closed
108
Votes |
154
Posts

Spec home builder trying to expand, funding questions

Account Closed
Posted

I have been building homes focused on building science for some time now. We do all sorts of "new" things like IOT devices, built in commercial grade networking/wifi, basic home automation, etc

We build a great home, air tight, comfortable, healthy, side bonus is the homes are energy efficient. Profit margins arent as great as the competition building garbage homes that will absolutely have issues shortly after being built but I do sleep well at night knowing the homes we build are great and will be here long after I'm dead.

We have been working on a website recently that allows us to have contractors and sub contractors login and view new jobs for home builds, view prints, permits, and accept/decline jobs as well as get paid automatically after inspections for their job are complete and passed. Homeowners are able to also have an account and register their home to help with the iot onboarding process and setup their home and automation details as well as schedule maintenance and 3rd party services from our portal.

Ive spend a considerable amount of time and money on this software package and so far so good. I'm ready for the next phase of my plan and thats to stop using banks to fund house builds. Giving up equity in exchange for cash to build homes makes more sense than paying banks for new construction loans.


We have a 45 acre parcel being sub-divided into 180 lots that will add on to an existing sub division. I would like to find a partner(s)/investor(s) that would have an interest in taking a look at what we are doing and finding the funds to stop paying banks.

Id be more than happy to share more details privately. I'm just a phone call away.