New Construction Project Houston Area

9 Replies

I have purchased a 2 acre lot in a neighborhood that's been subdivided already. I am looking to build as an investor. I'm a broker and have working knowledge on the construction process but I've never done my own project. I have investors who are interested in funding my project. I'm looking to get a budget, detailed plans, and a schedule. I'm thinking that I can take this info to my potential investors or to a lender if I cannot secure the funds privately. Can anyone point me in a direction of where to start on getting my budget, plans, and schedule?

We recently completed our new build with Built Green Custom Homes.  It is an owner-builder program that allows substantial savings over a traditional builder.  We have approximately 25% equity based on our loan to value and we have almost no money in.

@Kevin Goodsell that’s awesome.  I own my lot free and clear so I may be able to use that equity for a down payment.  I have an friend who’s interested in investing.  I just keep going back and forth on whether I want to do financing or investors to fund the project.

@Gregory Wesley  If you go the construction loan route, you will need a builder of record.  Built green charges something like $4.65/ft (covered) but that includes custom plans and access to their contractor network.  You would manage the project to get the most value out of the program.