First Time New Construction | North Carolina

[Josh Wagner]

Hello! 

I was wondering if there was anyone in here that builds new construction homes in North Carolina? I've wholesaled homes for 7+ years, flipped several houses, and am looking to now focus on building homes, both infill projects and subdivisions. Are there any local or semi-local banks that offer loans to those with no experience? Hard money lenders? Thanks in advance!

[John O'Leary]

New construction financing with hard money lenders typically presents the highest barrier of entry. Most lenders require you to have completed 2-3 builds under an LLC, where you were either a guarantor or had at least 25% ownership. There might be local banks or traditional options available, so I'll let the traditional LOs chime in. You could also consider a joint venture with someone who has the necessary experience, or see if the builder is willing to act as a guarantor.