Any advice for referrals on new construction loans

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Any advice for referrals on new construction loans

Christopher Hardisty
Real Estate Agent · Beacon, NY · Member since 2014 · 1 post · 1 vote

We have a project in the Hudson Valley where we own the lots valued at around $700k and have $400k to put towards the construction. We are seeking 800K for 1 year. We are well established company with several years experience in building, construction, renovation etc. We just have must of our funds tied up in a few projects that have projected closing dates of greater than a few months away. We have seen 12% with 4pts looking for something more attractive. Property is owned in an LLC. Proposed project is 3 single family homes already approved with city.

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  • Marcia Gilad
    Lender · Ann Arbor, MI · Member since 2015 · 45 posts · 10 votes
    3y
    Hi Christopher.
    I'm quite certain we can beat those terms. I'd be happy to quote it for you. I will connect with you and share some info.

    Thanks,
    Marcia
    0Reply
  • Paul Sofia
    Lender · Charlotte, NC · Member since 2016 · 371 posts · 172 votes
    3y

    I know of a good lender that has some decent terms.  I would want to jump on the phone with you prior to having the rep to call.  They are a direct lender and I'm certain they can blow those terms away.

    I am a builder myself and understand where you're coming from.

    0Reply
  • Ramiro Cardenas
    Member since 2020 · 12 posts · 2 votes
    3y
    Quote from @Christopher Hardisty:

    We have a project in the Hudson Valley where we own the lots valued at around $700k and have $400k to put towards the construction. We are seeking 800K for 1 year. We are well established company with several years experience in building, construction, renovation etc. We just have must of our funds tied up in a few projects that have projected closing dates of greater than a few months away. We have seen 12% with 4pts looking for something more attractive. Property is owned in an LLC. Proposed project is 3 single family homes already approved with city.


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    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    3y
    Quote from @Christopher Hardisty:

    We have a project in the Hudson Valley where we own the lots valued at around $700k and have $400k to put towards the construction. We are seeking 800K for 1 year. We are well established company with several years experience in building, construction, renovation etc. We just have must of our funds tied up in a few projects that have projected closing dates of greater than a few months away. We have seen 12% with 4pts looking for something more attractive. Property is owned in an LLC. Proposed project is 3 single family homes already approved with city.


     Hey Christopher, 

    If you are experienced, have an excellent FICO and have plans and permits ready, you can expect rates starting at 10.5% and 2-3.5 pts

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Arthur P.
    Real Estate Broker · Pinellas County · Member since 2016 · 166 posts · 114 votes
    3y
    Quote from @Christopher Hardisty:

    We have a project in the Hudson Valley where we own the lots valued at around $700k and have $400k to put towards the construction. We are seeking 800K for 1 year. We are well established company with several years experience in building, construction, renovation etc. We just have must of our funds tied up in a few projects that have projected closing dates of greater than a few months away. We have seen 12% with 4pts looking for something more attractive. Property is owned in an LLC. Proposed project is 3 single family homes already approved with city.

    Hi Chris, try local contacts  I know local professionals that like to lend. With better terms than bankers  

    0Reply
  • Oliver Bernardo
    Lender · Los Angeles, CA · Member since 2019 · 50 posts · 6 votes
    3y

    @Christopher Hardisty

    Hey Chris Happy to Help! PM Sent! 

    0Reply
  • Tylere WeaverPro Member
    Rental Property Investor · upstate new york · Member since 2023 · 54 posts · 10 votes
    3y

    https://quicklinecapital.com/

    Give them a shout see what they say

    0Reply
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