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All Forum Posts by: Paul Allen

Paul Allen has started 3 posts and replied 7 times.

Post: Modular Construction Lending

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

I am a residental developer based out of Shreveport Louisiana and Im thinking about using true modular for the construction process of the project. After talking with the modular companies and a few banks, most of the banks are not a very familiar with the draw system modular require. Since up to 90% of construction is built in a factory they are needing over 50% up front to get started. Have anyone worked with any lenders that specialize in modular finiancing?

Post: Hard money loans for new construction

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

@Greg Dickerson Since I’ve already purchased land and will have done all of the soft cost and getting approval through the city will banks count some of this cost towards the down payment?

Post: Hard money loans for new construction

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

@Odie Ayaga Well in this situation the land has already been purchased and I’m in the final stages of getting site plans approved and ready to issue permits. All of the soft-cost is done just wondering about getting lending for the hard cost.

Post: Analyzing New Development

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

@Graham Caver Yes that is the parcel. Ruston is a growing town and is in need of more housing.

Post: Analyzing New Development

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

I am currently in the process of developing a 3.4 acre PUD property in Ruston La for duplex townhouses. I have already purchased the land and have the architectural drawings completed with stamp. This property is already zoned for this development as well. Right now I am working with civil engineering for master planning and site planning. We have submitted preliminary master plans to the city which will allow me to develop 11 duplex buildings/ 22 units. They will be 3bed 2.5bath townhouses within 1mile of Louisiana Tech University and my property lines share with a city park. I guess my question is do anyone have any strategies on how to analyze these type of developments? I started this project before I join the BP community and I wanted get some thoughts before I continue my project.

Post: Analyzing New Development

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

Any strategies on analyzing new development projects?

Post: Hard money loans for new construction

Paul AllenPosted
  • Developer
  • Ruston, LA
  • Posts 7
  • Votes 0

Have anyone used HML Vs construction loan when doing new construction on duplexes? If so how was the process?