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All Forum Posts by: Adam Hill

Adam Hill has started 3 posts and replied 7 times.

Thanks for responding Jared. I've not considered breaking my equity into smaller investments, primarily due to the perception of managing multiple angles from afar. Where and what would you look at?

My focus is income and increasing cash flow. Rent control in Portland was squeezing that, hence the sale and looking elsewhere. 

I'm looking for help clarifying my next move.

Closing the end of this month on a multifamily in Portland, Maine. Sold for $2.3m with $1.3m in equity. Purchased through a 1031 and keen to keep it rolling. Have been looking nationally at NNN and the range of offerings has clouded my decision making. I'm non resident so will need a hands free investment/full management. Open to suggestions.

Thanks in advance.

Quote from @Matt Fine:

Hey Adam- If your builder has done new builds that were financed, he should have insight regarding who was lending on those projects.  About 7 years ago we used Banner Bank.  They weren't easy to work with when we had delays due to a wild winter that pushed the schedule back by 3 months.  But they were the best option for us at the time.  

Follow up question- you mentioned building a modular SF home.  Who is the modular company you're planning on using?

Thanks and good luck


 Thanks Matt for the Banner Bank suggestion. My contractor's lead is no longer financing modular builds as a few recent projects have been burdened with issues apparently. Not with my contractor's projects I hasten to add. 

Method Homes are our preferred outfit, based out of Seattle, they have experience with builds in Tahoe. 

Quote from @Andrew Postell:

@Adam Hill does your GC have experience with new builds?  This would be a requirement for any new build lender.


 Yes, 20+years of new builds in the area.

Post: Land and Construction Loan

Adam HillPosted
  • Posts 7
  • Votes 0
Quote from @Erik Estrada:
Quote from @Erik Estrada:

Modular homes are a no go for most investment lenders 


 Do you have any other properties to tap into to finance this?


Yes, but under our Maine registered LLC. Was hoping to explore options and get an idea of how much of our equity we will need to tap into.

I'm looking at finance options to purchase an entitled lot in Truckee, CA and build a SF modular home on it as an investment. The plan is to sell once completed.

I have a GC, and a lot identified.

Would anyone have recommendations for lenders?

Post: Land and Construction Loan

Adam HillPosted
  • Posts 7
  • Votes 0

I'm looking at finance options to purchase an entitled lot in Truckee, CA and build a SF modular home on it as an investment. The plan is to sell once completed.

I have a GC, and a lot identified.

Would anyone have recommendations for lenders?