All Forum Posts by: Eric Robinson

I used 2-10 for my last 3 homes, great company.

I would lean towards the mini split system, they are great for retrofits.  They make systems with multiple indoor units connected to one outdoor condenser.  No duct work needed and all that might come with concealing it. 

Hi Ashely,

I completed my first development deal last year on  a single family home.  Here are the basic step that I did.  First I found a source of financing that would loan on speculative home.  Then we found a piece of land in a  neighborhood that had the product type and comps we were looking for.  We submitted the permit and zoning applications to the county and closed on the loan about the same time.  We then began construction and completed the build in about 5 months.  The home was sold about 45 days after completion.  Being the first time there were a few unknowns but having a construction back ground helped.  We are now rolling the proceeds into our next project with the same bank and contractors.  

As far as how much money you will need will depend on the product you plan on building and if or what type of financing you are looking at.  Our lender required us to provide 20% equity which is very reasonable considering.

@Martin Spielvogel yes we had the lot and they gave us the full purchase price as part of the 20% equity stake we needed to come up with.  Price per sf is around $95

@William Jenkins is there a per acre cost that you use to estimate the land development costs for your projects?

@Jordan Keck  I am building a spec home and also used a small local bank with 3 branches.  I did not have a relationship with them but when I came to talk to them I had laid out my proforma and showed them the numbers.  They have a limited lending area geographically but it worked for me.  I think after this first deal they will expand the area they are willing to lend in.  I was required to put down 20%  and they gave us a construction line of credit for the project.  The process was pretty straight forward  and the terms were very favorable for a speculative construction loan.  

Brand new home in Orlando Florida.  Spacious open floor plan with over 2400 sf.  Four bedrooms, 3 full baths with a den.    Concrete block construction with large 3 car garage.  80 x 125 lot with mature oak trees.  

Pine Creek Development

407-247-8885

@Chad Leton you are welcome.

I am on my way @Rogers Smith, closing on my financing on May 10th.

@Michael P. 

its this one  

https://www.adventuresincre.com/new-sf-home-constr...