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Updated over 9 years ago on . Most recent reply

User Stats

82
Posts
5
Votes
Brennen Cook
  • Elk Grove, CA
5
Votes |
82
Posts

Seeking Hard Money / Funding - Construction Loan

Brennen Cook
  • Elk Grove, CA
Posted

Hey BP!

Never failed me before so Ill take to BP again!

I am looking for about $450,000 in a "construction" type loan. 

I own a lot in Cameron Park, CA ( A suburb of Sacramento, CA) free and clear. The lot is 2.25 acres in a well established neighborhood. Homes here sell for about $250/Square foot. The 2.25 acres is actually TWO parcels that have been combined into one and I am currently in the process of getting it split back. I plan on building a semi-custom home at about 3,000 +/- square feet for an ARV of around $750,000. I purchased the land for $125k and there are a hand full of other lots for sale. Much smaller ( .75 acres or less) and selling for $200k ish.

Have  a contractor already,but willing to shop. I am currently in the process of purchasing a full set of blueprints for said lot. Once I have a secured floor plan down and confirmed with architect, I plan on getting a detailed estimate from my contractor and also obtain an after construction appraisal on the home.

Looking for potential funding / or would be wiling to consider a JV partner.

Any ideas, suggestions, comments, help would be greatly appreciated.

Looking for

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