All Forum Posts by: Justin Fox

No loan options but Iv been really interested in modular multifamily and would love to know which company you are using and any other details your willing to share.

I would love a modular triplex or quadplex here in the Asheville area.

 I know of a Carolina based lender.  If you haven't found a lender, let me know and I can put you in touch with them.  What manufacturer do you plan on using if you don't mind me asking  A manufacturer I use here in NC have a nice one story plan if you want to save some money on the finsh work

Can definitely finance it as a ground up construction . What is the scenario looking like ? 

@Robert Ellis. I don't think that's true for all markets, nor for all modulars. I have several friends that have built with modulars in and around Asheville, have found the construction quality to be great, have found the resale value to be tremendous, and have found the construction process to be much faster and easier. Many of these homes are now built with 2x6 walls, not to mention great precision. They're built inside a facility rather than being exposed to the elements. And they look stick-built upon completion, and can be financed as such as well. And on top of that, in a region like ours where construction labor is an acute challenge, they provide a great solution.

@Justin Fox A couple friends of mine have purchased modular duplexes through Virginia Homes of Boydton, and have said they had great experiences. And I heard of one, newly built, that recently sold for about $550K in Asheville. That being said, financing is a tough nut to crack. I believe the most common path is to use cash, private, or hard money, and then to refi into something traditional once the work is done.