Private Money Options to Offer Our Customers
Looking for solutions to offer financing to buyers:
We have a unique asset class that we're building out here. The land is unbuildable for residences and we build these storage workshops on the properties. Each lot is 1/2 an acre and located near 3 large golf course communities. Each unit costs about $250k between land and structure and sells for $330-350k. They'll be bought by local members of the communities often to house their toys, be used as workshops, some people rent them out as storage, etc.
We're looking to build partnerships that would allow many of the potential customers that reach out to us a route towards financing these. Currently they need to be purchased with 100% cash, or, 50% down with high interest lending. Many people that reach out don't have the 50% down to even achieve this option. Does anybody have any solutions that may help bridge this gap for folks that may be coming to the table with say 20% - 30%? 5 year balloons? If we can increase our buyer demographics we'll likely see time on market drop by 80-90%.
