Updated over 9 years ago on . Most recent reply
Spec loans
Hello fellow BP members!! New here what a great site. Anyhow I'm a building contractor celebrating or 11 year in business. So I've been watching a piece of property for a few years now in a master planned community. And after doing my due diligence I pulled the trigger and purchased the separate 27 lot development within the master community all cash . All improvements are in and plotted ready to build on. I have prints all finished and all my pricing together. This is a 42 lot community with a culdasac surrounded by the metro parks, 15 year tax abatement. Prior developer went bankrupt during the crash. He had finished 15 units. These are 4&5 unit town homes structures I am building not to be confused with condo's. Homeowners actually own thier land. Plan on distinguishing myself from other builders by offering a better product. First were are going to build energy efficient, green homes. They will be energy star certified,HERS ratings, 2x6 construction. We will also guarantee homeowner utility bills. Now that you know a little bit about my project I'm looking for financing options or loans that I could obtain. Is there anyone out there lending on spec?