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Updated 6 days ago, 12/09/2024
General Contractor looking to finance new construction
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.