All Forum Posts by: Paul Sofia

Hello!

I was wondering if there was anyone in here that builds new construction homes in North Carolina? I've wholesaled homes for 7+ years, flipped several houses, and am looking to now focus on building homes, both infill projects and subdivisions. Are there any local or semi-local banks that offer loans to those with no experience? Hard money lenders? Thanks in advance!

I can flip you over to a lender here in the Carolinas. Let me know and I can put you in direct contact with them Quick closings. What is the LTV you are seeking?

1 Vote

Fayetteville, North Carolina

Tip of the iceberg, unfortunately. Many folks got way too big for their britches. I know of a guy that has at least 90 liens in a neighboring county to Mecklenburg County(Charlotte MSA). He has 40 in another.

Greed....

0 Votes

Cape Coral, Florida

Where in NC? I've done plenty of site built and mods in the Charlotte MSA. You can do a mod less expensively and it's a better home. Feel free to reach out and I can help direct you to the proper channels

1 Vote

We're in the biggest bubble ever produced.....I'd be patient and wait.

1 Vote

Tampa, Florida

Where are you located, Ethan?

0 Votes

I agree. They really know their stuff

0 Votes

Thanks. Would not be for a rental but yes, I can get some comps from a realtor

1 Vote

Charlotte, North Carolina

Eventually but looking from an experienced investor's prospective is helpful.

1 Vote

Charlotte, North Carolina

I've been acquiring and selling real estate for well over 20 years but I've never acquired or built a duplex. I've got a piece of land under contract that I can subdivide and put a duplex on one of the lots to sell. I honestly don't know the demands in the current market SFR on the other hand, I can do an entry level home with an attractive price point on both lots, New duplexes near this area in are bringing $1,500 + that I'm aware of. Thoughts.....

1 Vote

Charlotte, North Carolina

Quote from @Justin Fox:

Does anyone have experience with financing for a new modular they put on land they already own?

I know they can be financed just like a stick built construction loan, however, my credit union is not doing construction loans right now and does not have a time frame for when they will (SECU).

I want to use the land as down payment if possible and finance the modular and the site prep for it.

Looking at getting a new modular duplex or a SFH.

Thanks

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 workHBSpm

pm sent

0 Votes

Asheville, North Carolina

All Forum Posts by: Paul Sofia

Paul Sofia has started 3 posts and replied 321 times.

Post: First Time New Construction | North Carolina

Post: Blacktip Construction Group / Jeff Beach / Scam Artist

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Post: Duplex pricing question Charlotte MSA (East Rowan County)

Post: Duplex pricing question Charlotte MSA (East Rowan County)

Post: Duplex pricing question Charlotte MSA (East Rowan County)

Post: Financing for Modular Duplex on land I already own