All Forum Posts by: Chris Ellis

They are much like National Corporate Credit and a number of other companies out there. They are not direct and go to traditional banks to secure the lines. If you want to know the truth behind the lines of credit they mention, feel free to reach out. 

You can keep extending a bridge. You can also refinance after going the hard money approach. Most likely in 3 years you will be looking to anyways to achieve better rates. I will be happy to help if you'd like. 

Call the construction company that is on the signs out there working on it. 

Great idea if you can really get the line of credit. I would find it extremely surprising though that you would be able to qualify for a traditional type loan and not a conventional. 

Check https://interestingengineering.com/this-10000-3d-p...

Have you seen the 3D printed homes? That might be an even cheaper route to go if you are working towards providing Section 8 housing. 

Rates will vary based on your credit so it will be reviewed. You will also need to provide proof in the ability to service the debt. If you have an existing tenant, then a W-2 income can potentially be avoided but if you are planning on living there, yes they will be looking at your income. 

Very interesting project. When are you starting?

You are pretty accurate in your statements. It may be possible however to find a group willing to do up to 75% LTV. Perhaps there is someone willing to take a second position for the excess. It is not the easiest thing to hunt down but I'd be happy to help and would free up a little more cash. Let's connect.

25% is a good number since you do not have prior history. It sounds like it should still be able to get done. I'll be happy to help. Get in touch.