All Forum Posts by: Nicholas Landis

Deal funded offline. 

Looking for introductions or recommendations for a Private Money situation, that can lend on a new construction investment condo.

Under contract to pay $1,080,000 for a 2/2 with 1,260 sq ft. 19th floor. Existing comps support $1,350,000-$1,450,000,

Pre-construction condo comps that haven't closed yet in the unfinished "Modern" building on Rainey, support over $1,500,000+

We already have 10% (108k) down payment in Escrow, and looking for a lender that can lend on this unit with no additional down payment.

Previous lender is not able to preform.  They were a PML that quoted us originally with our 10% down and significant appreciation equity. 

Closing is 9/9, but can be extended.

@Mike Reynolds - think of how much concrete is in a normal skyscraper.  So so much.  It will be the same as building a normal skyscraper.  Steel reinforced concrete. 

@Jensen Roll we are planning on engaging MudBots.  We love the COBOD but, Peri has been impossible to deal with, and we don't think that their prices are competitive.  

@Mike Reynolds apologies,  Missed your reply.  Yes, there are a lot of unknowns.  Our structural engineer said in the 5 he's done so far, all of them had different ways they ran plumbing, electrical and mechanical.  So it's a learning experience along the way.    

Embeds are possible.  Dubai is building a 3D printed skyscraper, to be completed by 2026.  

Waterproofing.  Hadn't thought of that honestly, will bring it up to my team and see their thoughts.  Zip system liquid flash?  But then where?  I see the point. 

@Dennis Huber

Printing time.  Printer lives there a bit longer.  Need curing time between levels, or rooms depending on the scale of the build. 

In a single story build, none of the walls are framed, just printed. Or can be done that way anyway.  Oftentimes a hybrid is preferable.  In a 2 story, they just do exterior structural, and interior traditional stick. 

Yep, figuring out how to do it well still be expensive.  After those first couple that struggle, we will have a new process and be off to the races. 

Hey @Mike Reynolds my whole family is in Nacogdoches.  Connected to the Perry family.  

Anyway, the printer is $390,000.  

@Dennis Huber 

I'm far from an expert, but from what I understand the foundation will be traditionally poured, and being in Texas, we do not deal with basements.  That being said, the printer will just print the structural walls on top of a traditionally poured foundation.  The time savings isn't from the foundation but rather in the printer's ability to print the structural walls for a 1,600 sq ft house in just 48 hours. 

We should have our printer by the beginning of the year, and then will have a lot more learning to do while we practice on some of our own personal pieces of land. 

@Waylon Zook - that's correct.  Just the structural parts, but that is part of the biggest time suck in a build.  Structural and the final 5% take the most time.  So it's less expensive from a material standpoint and also a time standpoint.   

All those other things you mentioned have to be done in a more typical fashion.  Plumbing and electrical are the biggest growth opportunities.  There are a couple of ways to run them, and the structural engineer we are working with has done 5 projects, and they have all done electrical and plumbing differently.  

@Stephen Stokes yes, we are aware of Icon.  Why do you think it's a gimmick?  

I think it's a new cool technology that still needs to work out some kinks, but I think 3D printing is going to put the building industry on its head.  The possibilities are really fascinating.  Concrete mix can be made to be fireproof, and earthquake resistant.  

Totally agree we need a more streamlines process from CoA, but Austin is light years ahead of Los Angeles, NYC and other big cities, and hopefully we will stay ahead of the curve. Building a house in LA takes min 2 years.  It's insane, Austin is much better than that.