New Home Builder - The Villages/Ocala, FL - Lending Options?

New Home Builder - The Villages/Ocala, FL - Lending Options?

Member since 2022 · 5 posts · 6 votes

Hey guys, I started my own company about a year ago, Rustik Homes LLC. We are a new home builder serving the Ocala Metro area and The Villages. I don't currently have any projects funded or started. I have been mostly in data analysis mode, checking into areas and studying population data, sales data, expected growth data and what companies are coming to the area. I have a turn-key GC with engineered plans who is already building the same plans in other areas, they bring to the table all their own labor and equipment covering the entire process from underground plumbing to interior finish. My struggle has been in the capital department. I have had a some interest but most seemed to be shady to me (could be a result of a lack of education in capital lending), one particular person strung me along for about 4 months, I just moved on from the pipedream that he had something in the works. 

I am seeking information and networking in the capital lending space, ultimately hoping to obtain a connection with a hard money lender or someone who can offer another option. There are a couple of various options when it comes to funding these projects through completion on my end including an option to fund the construction using a sister company to the GC, Rigor.Build, what I need in place is the land. I have my build area picked out and my data in place to back up my choices. 

As for me, I come with 7 years and growing in the construction supply industry. I have seen the problems that plague not only the home buyer but the GC as well. I started Rustik so that I could do my part in making the process better for all of those involved. Looking forward to speaking with you and learning all that I can about this space, thank-you for your time! 

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  • Lender · Santa Monica, CA · Member since 2017 · 31 posts · 10 votes
    4y

    Hi Ryan,

    Generally a tough ask. Granted it's a chicken before the egg type deal on getting financing for ground-up w/o having ground-up experience.

    Is your GC willing to be a guarantor on the loan or take an ownership % so that his experience could be looked at?

    Feel free to PM me and we could set up a call.


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