All Forum Posts by: Cody Maxwell

@Dominic Mazzarella that you for the detailed information sir. I am leaning the local route as it seems to be the most cost effective option.

@Jay Hinrichs Thank you for the info Jay. Congrats on the volume! Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home

I currently am building spec homes in a rural area in Colorado and have been self funding the spec builds. I am looking into getting a SPEC line of credit for 1MM or 1.5MM. Each project cost is around the 400k market without land cost. Would this be better to try and go through a local bank or is there good options for private money or other banks that specialize in this?

Has anyone had any luck on structuring a deal with seller financing to obtain the land, then use a lender for the horizontal development infrastructure. This would be a large residential development in a rural town with a great location. Looking at ideas on how to structure the deal to the landowner  to get the land aquired and infrastructure installed.