All Forum Posts by: Eric Batte

I ended up getting outbid on the property so the project did not move forward. However, I confirmed that "traditional" financing on the prefabs is challenging, especially if not on a permanent foundation (which was an option in this case).

Thanks Keria 

Property is in Grand Lake, CO. LTV 75%

Hi Keira.

Yes, cash for the lot and funding for the cabins.

2-6 cabins dependant on water rights.

Yes, have capital for the loan.

Prefer prefab versus traditional due to location, timing, & contractor availability.

I have prior investments experience, and I'm an architect by profession and deal with construction on a daily basis.

Hi,

I’ve got a potential deal I’m working on that may allow me to put multiple prefab cabins on the lot for short-term rentals. Each modular will cost approximately $210k and generate $30-40k/yr in revenue. Lot would be a cash deal. What are your thoughts on possible financing options.

Thanks

Thanks for the response, Michael. Shopping for perfect lender now.

I'm in the market to purchase a STR.
In my case I don't have any limiting factors - downpayment, employment, credit score, DTI, etc. are all no problem. What are the best options for financing in today's environment?