Financing for Builder - New Development in Nevada

[John Perry]

We started flipping many years back and migrated into building new homes. We have built 30+ homes buying individual lots and typically have 3-5 in progress at a time and have sold most before they are finished. For financing, we use our funds and HML. We have now acquired 50 lots in one development and would like to move faster, building 10 - 15 at a time to get better economies of scale. Ideas on where we could raise $2M. Now that we have established a solid track record looking to move away from HML and find more reasonable sources of money. Thank you.

[Kevin Romines]

You will have to find a lender that does spec. money. They are fewer and father in-between these days, but they still exist. Private money could take some time to locate and negotiate, I would concentrate on commercial banks or construction banks that will give you spec. money.

I hope this helps?