All Forum Posts by: Brooke Morton

 Hey Mitch! Yes, let's chat. I'd like to get a couple quotes. Thank you!

 Awesome! Thank you!!

And would they lend for a build in NC?

That would be great. Thank you!

Can anyone recommend who I could work with to get a construction loan in greater Asheville? I would not need the loan to cover the purchase of the land; just the construction. Thanks!

I would prefer to have the cash for another deal. I understand the buy-and-hold strategy, but that is not what I am looking to do with this house.

Have you worked with a wholesaler?

Hi BP! I have a property that I will be selling to a wholesaler. This will be my first time doing a wholesaler deal. I have a few questions and would love to chat with someone if they have 10 minutes. I've researched a bit about how they get paid and the fees they take, but had more questions about how the deal works -- if a title company is involved, and if it's expected to only work with one wholesaler at a time, etc

Any info much appreciated!

Hi! I am looking to connect with Detroit-based wholesalers. I have a property to sell and want to talk. Thanks!

Well, I think the only way out of a construction loan is a mortgage or cash payoff. That's what I thought. I was just hopeful that there might be another option.

CONSTRUCTION LOAN question: I am looking to build a modest, small home for myself. I have just started looking into costs and am seeing a ballpark of $200,000. If I sold my current home, I would pocket $140,000. I imagine I would need a construction loan for at least $100,000. My question is: Aren't construction loans good only for a year? After a year is up, don't you have to transition that into something else? I really want to avoid having a 15- or 30-year mortgage. Any suggestions?