All Forum Posts by: Jared Rollins

Quote from @Bill S.:

@Jared Rollins so if I understand the situation correctly. You own the lot worth $325K outright and have a construction lender for up to 70% of the build costs but need an additional $250k for the remainder of the construction costs? I assume based on building and land values in the area that the $325k is part of the 30% and the $250K would be the remainder. Would the construction lender allow the $250K to be in second lien position or are you looking for and unsecured $250k loan?

Have you done ground up construction before in the area? Is your builder local to Roaring Fork Valley? 

What is the status of the soft costs (ie tap fees and development fees) of your build?

This will be my first one in this area, my partner has 20 years of experience building homes. The builder we chose has lots of experience in this area. Are you wanting total soft costs or line by line? The soft costs can be included in the 30% loan as well. It would be a second position lien

I'm looking for an investor that's looking for 20 percent cash on cash return. I have a few deals and the numbers are great. I'm also bringing money to the table as well. They are in the Roaring Fork area in Colorado. The return on investment is negotiable. If anyone has any questions please reach out!

Quote from @Teri Feeney Styers:

@Jared Rollins Where exactly in Colorado? (BP always uses Denver as a pin). You might try a new title for your post specifying the area. Also, you say you have a "builder lender" but then it says you need funds - can you clarify? And since you are out of state you will need to be open to suggestion on design, size, etc. What's popular and saleable in one place isn't great in others. Maybe add a Realtor to your team to just weigh in on what's needed and wanted. Last thing you need is a spec house sitting on the market too long. Good luck!

 Thank you I appreciate it. I mean I have a lender for the construction aspect I just need the difference to get to 30 percent loan to cost. I have an agent already on the team. I'm familiar with the area because I lived there for 3 years. Its in the glenwood springs area. Thank you!

Thank you Bryant! I'm out of state so I'll try to find some real estate facebook groups

Hey Bigger Pockets community! I have a lot in colorado that I'm interested in builder a spec home on. I have the builder lender and architect already vetted, with a proforma and comps in the area. I was curious the best strategy to get the remainder of the funds for the build, my lot is owned outright and worth about 325k. The remainder I will need is about 250k. Is there any other investors interested in projects like these?

I currently have land in the Baja California area next to Cabo. I'm interested in building condo's for rent and sale. Does anyone know any info about whether or not I can get a commercial loan or a new construction loan for this project and where I should start looking if it is available.

Thank you all for the helpful info. I’ll reach out in regards to more questions!

I’m used to doing flips that cost about 200k and profit about 30-40k per one. The risk is calculated and managed but is obviously still there so it just depends on the situation. What are you referring too? 

Does anyone know the best neighborhoods to invest in both Cleveland and Baltimore. And what to be wary about. I’m new to the area but know friends that have had good luck. Looking for flips and multi family holds