All Forum Posts by: Dallas Sauer

The Ground Up programs are the tougher to get into than the Free Masons.  Here's the catch with those programs:

1) Getting in the program as a 0 exp in GUC is impossible

2) Even when partnering with a builder, that builder will only get credit for the builds he's done for himself.  If he has done 50 new builds for clients he gets 0 exp for that.  Kinda crazy, but that's how it works.

3) The loans themselves have a nightmarish processing period.  Everything but your blood type will be asked for, the builder will need to have their house in order and be in good standing as well.  Plans and drawings and specs will be asked for.

4) The ground will need to be build ready in most cases.  Most will only fund on the vertical build.  All that underground work that is needed may fall on you.  

5) In most cases, usually the investor buys the land and gets it build ready and then they go to the lender with plans on the build.  The lender will then cash you out 50% - 60% of the raw land value but the vertical build money goes into escrow and works much like a rehab fund.  You complete work, you apply for a draw, funds are released.

It's almost like lots of lenders who have GUC programs are telling you that you need to get a few done in cash first and prove you know to get these done and are in bed with the right builder and then they will look at your deals.

I was reading that it’s not exclusively forbidden.

Specifically referring to Pace Morby’s Gator Lending, for a sub to deal for instance