90 home new construction project comes to completion.

[Jay Hinrichs]

I signed my last 3 vertical construction loans yesterday.. that makes 88 loans over the last 3 plus years .

My largest single project to date.

89 lots  built 88 homes 

price points 550 to 1 mil.

Semi custom

bought the dirt prosecuted the entitlements

secured Horizontal bank loans built in 3 phases.

Went vertical and built out all the homes with 80% being pre sales and semi custom.

could not have done it without my Wife leading the sales and designing the homes..

GREAT sub contractor base as well. had to change a few over the course but key subs stayed on project from day one.

so end of the day  5.5 mil land purchase  6.5 million in horizontal loans and about 40 million in vertical loans.. Also a special shout out to my Banker of 30 years who funded it all for us.. Horizontal loans in particular are very tough to secured from local banks. So we enjoyed the lowest rates possible for this project..

All in all very successful and fulfilling with of course many challenges Covid  lumber prices doubling or tripling in some instances etc etc.