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Updated almost 8 years ago on . Most recent reply

Account Closed
  • Investor
  • Miami, FL
32
Votes |
80
Posts

construction financing for small developer in los angeles?

Account Closed
  • Investor
  • Miami, FL
Posted

I have 3 separate new entitled construction projects that i developed myself in need of financing in the los angeles area;

About $3 millions needed to build 2 architectural homes and one warehouse

Properties are currently 100% owned outright; my company is recent and no track record yet, thus the struggle looms to find easy and cheap financing

Being new to the local financing market, what are the options beside 10% hard money loans? What LTV should i expect?

any advice welcome

Thanks

Most Popular Reply

User Stats

183
Posts
153
Votes
Michael P.
  • Real Estate Investor
  • Dallas, TX
153
Votes |
183
Posts
Michael P.
  • Real Estate Investor
  • Dallas, TX
Replied

Why not sell two of the properties you own free and clear and use that cash to just self finance one of the builds?  When it sells go buy yourself some more land and start the process again.  

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