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Private Lending & Conventional Mortgage Advice

User Stats

4
Posts
1
Votes
H Davda
  • Rental Property Investor
  • Redmond, WA
1
Votes |
4
Posts

Best place for a owner builder or construction loan ?

H Davda
  • Rental Property Investor
  • Redmond, WA
Posted Nov 11 2019, 20:21

We are looking to build a few homes in Seattle WA and trying to find the best bank/lender for a owner builder or construction loan? Would love to hear if anyone has recently done what we are trying to do.

Thank you

User Stats

7,874
Posts
6,272
Votes
Andrew Postell
Lender
Pro Member
#1 Creative Real Estate Financing Contributor
  • Lender
  • Fort Worth, TX
6,272
Votes |
7,874
Posts
Andrew Postell
Lender
Pro Member
#1 Creative Real Estate Financing Contributor
  • Lender
  • Fort Worth, TX
Replied Nov 12 2019, 12:42

@H Davda try posting this in the Washington forum.  You'll likely get more responses...and ones from locals in that forum than here.  Just an idea.

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User Stats

4
Posts
1
Votes
H Davda
  • Rental Property Investor
  • Redmond, WA
1
Votes |
4
Posts
H Davda
  • Rental Property Investor
  • Redmond, WA
Replied Nov 12 2019, 19:50

@Andrew Postell

Thank you buddy. I’ll try to figure it out how to do that. I’m new to this!

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User Stats

967
Posts
261
Votes
Jared Rine
Lender
  • Lender
  • Sacramento, CA
261
Votes |
967
Posts
Jared Rine
Lender
  • Lender
  • Sacramento, CA
Replied Nov 13 2019, 22:57

@H Davda...what's your experience in building homes?

User Stats

4
Posts
1
Votes
H Davda
  • Rental Property Investor
  • Redmond, WA
1
Votes |
4
Posts
H Davda
  • Rental Property Investor
  • Redmond, WA
Replied Nov 14 2019, 00:08

@Jared Rine

First time building in the US. I’ve done building work in the UK.

User Stats

4
Posts
1
Votes
H Davda
  • Rental Property Investor
  • Redmond, WA
1
Votes |
4
Posts
H Davda
  • Rental Property Investor
  • Redmond, WA
Replied Nov 14 2019, 00:12

@Jared Rine

May consider working with a builder being my first project. We are trying to build 3 stand alone homes.

Cheers.

User Stats

967
Posts
261
Votes
Jared Rine
Lender
  • Lender
  • Sacramento, CA
261
Votes |
967
Posts
Jared Rine
Lender
  • Lender
  • Sacramento, CA
Replied Nov 14 2019, 10:03

@H Davda...Are there going to be built in WA? Do you own the land/lots?  What are sale price points for each property?  Build costs?  Etc?  I need a lot more information to possibly help you.  Feel free to PM. Thanks,