All Forum Posts by: Heidi McCoy

Interested to hear what you find out in this thread as I'm looking for construction lending also. What type of construction project are you planning? Mine is a vacation home/STR but at 9800 feet elevation so speed is of the essence to get the shell weather tight before the short building window closes in the fall. The lowest down I've found so far is 15% with a 10:1 ARM at 5.25% and a 60 day close.

Do you already have the lot or will that be included in the construction loan?  

@Joe Callantine - how is this project going for you? I’m very interested in this type of project also. Would love to hear more about this.

@Paul Leavitt - I’m also in CO and am very interested in tiny home developments. I sent an initial dev proposal through our city planning dept for to test out the reception for this concept.

It was for a development on 33 acres that would have had lots for tiny homes as well as small cottages (< 1000 sq/ft) with a multi family unit as well, 288 doors. Also a noob at real estate investing, however, and didn’t have the team or capital lined up at that time.

Yes. I know it’s not the typical way to get into investing but there is an unmet demand in our local housing market and asking “why” to lots of people creating this idea.

Would like to connect on this further if you are still interested!

Thank you for the feedback Karen and Jay!  It is a multilayered and fairly non-traditional project. (although there are several similar examples nationwide we are using as precedence).   I do have answers to the through questions you provided Karen, was aiming a brevity here just to find out what kind of other non-traditional funding stacks have been created for developments.  Very much appreciate the replies - thanks all!  

Thank you Mr. Gadberry!  This confirms what we have seen locally so far.  Thank you so much for your comment!  

hello!    Anyone out there have creative ideas on how to obtain funding (for a quick close) for a development?  Need 2.5 Million and will have it developed by a non profit into 222 net zero small homes.  Funding needs to happen fast though so that we can get property off the market.  All feedback and Thoughts welcome!