Quote from @Robert Ellis:
Quote from @AJ Exner:
Hey Mike,
Any previous Ground Up experience? That will usually be the first question for most lenders.
I have three investors in Columbus Ohio looking for ground up lender 15% LTC 75% LTV, they all are acquiring land and we are general contractors and LPs in a single purpose entity to qualify them. I'd like to talk to you further if you can offer similar terms. we have completed new builds. not sure how many it takes to qualify but looking at 1-2 would be good. each construction value is 350k with exit as a DSCR after we build them or sale. we already sold one house to rent to retirement so vertically integrated with dispositions as well. we do all the entitlements as well.
Hi Robert,
It sounds like you have a solid plan in place for your project. I'd love to learn more about your investors and their needs to see how we can assist you.
Project Details: Could you provide more specifics about the land acquisitions and the types of properties you plan to build? Are there particular areas or neighborhoods in Columbus that you're targeting?
Construction Timeline: What is the expected timeline for the construction and completion of these builds? Do you have any projected start dates?
Experience and Qualifications: You mentioned you have completed new builds before. Could you share some details about your past projects and how many builds you've completed?
Exit Strategy: For the DSCR loans post-construction, could you elaborate on your exit strategy? Are you planning to retain some properties for rental income or sell all completed units?
Financial Details: Can you confirm the total estimated costs for the projects and any additional financial information that might be pertinent?
Feel free to DM me or hit us up for potential next steps - looking forward to our conversation.
