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Updated 16 days ago, 12/09/2024

User Stats

6
Posts
2
Votes
Spencer Wayne Whitley Jr.
Contractors
2
Votes |
6
Posts

General Contractor looking to finance new construction

Spencer Wayne Whitley Jr.
Contractors
Posted

Just a brief rundown on my situation. I currently own a commercial general contacting company. We have built a few custom homes, however new construction residential isn’t our primary source of revenue. We have been in business almost 10 yrs. 

I also have an investment company that has been established for 10 yrs that I’ve flipped a few properties and hold land in.

**** My current issue with the lender that I recently spoke with was that I had to have experience building a SFR on my own property and have sold or refinanced and held in order to be approved for the loan. ****

little about the deal that I’m putting together 

I have a piece of land that that is permit ready plans approved ready to build on held it my property with no lien. Held in my property entity that I purposely keep a low balance and doesn’t show a lot of income. And I’d like to build the single family home and refinance with a dscr loan.


would anyone have any advice on this or suggestions 

  • Spencer Wayne Whitley Jr.

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