All Forum Posts by: Bryan Beam

Looking for an investor who would be interested in purchasing a new 27-unit townhome community in a popular town in western North Carolina. The first units will be available for sale or rent in late April. Additional acreage is available for expansion. 

Bryan Beam

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 Thank you Frances for your detailed response! For the reasons you mentioned, Holden Beach ended up being our choice as well. I hope you will continue to enjoy it!

Understood Doug...thanks for your comment

We have a 27-unit townhome complex under construction. To address the higher interest rates we want to develop a creative mortgage offer that we can market to buyers. One thought is we, the seller, would buy down the loan to offer a rate that is 2% lower than the market. We couldn't afford to do this over the life of the loan so maybe the buy-down is for the first three years and then the mortgage goes to the market rate or it's some sort of ARM. We are very open to ideas. We realize we would have to define the creditworthiness requirement of the buyer.

The townhomes will be in the $350 - $375K range. 

Are any lender interested in discussing?

Thanks

Thank you @Wes M. I appreciate the response. I wish you very well with your first STR.

I'm looking for an ocean front or 2nd row house to purchase as a short-term rental. For those in the area with experience do you have an opinion or guidance as to the best performing location, Holden, Ocean Isle or Oak Island?

Thanks in advance for any assistance!

Hi I'm lender/investor. I typically focus on western NC but looking for a good reason to visit OBX. The quality of the collateral and the person I'm investing in are most important to me. I'm more flexible than a typical hard money lender. If interested PM me. 

Thanks!

Hi Joshua,

Thanks for the reply.

I've been told by two builders that are authorized modular dealers that the cost is approx. 10% less than stick built. Construction time is approx. 4 months (1600 sq.ft.) although both companies are 10 weeks out on orders so that would put the overall time in the same range as stick built. 

I'm going to try one in my market to see how it goes. 

I believe in dreams!

Rajaa....thank you for the reply. 

The modulars that I'm considering are assembled on-site, on a permanent foundation. (Apex Homes is one of the suppliers I'm checking out  https://www.apexhomesofpa.com/) I've done enough research to know that bank financing and appraisals are treated the same as stick built. I believe the industry will move in the direction as labor and material cost continue to rise, but I still have much to learn.  

Anyone have experience with building modular homes in North Carolina? I'm interested to find a builder and to hear about your experience in selling modular versus stick built. 

Thank you in advance!