All Forum Posts by: Simmy Ahluwalia

Should not be an issue, per what Erik said as well.

@James Brown - how many doors is the Multifamily?  What's the status with Entitlements?

@Charlie MacPherson - let's definitely connect!  We have some very strong non-SBA business only lenders that can exceed the typical $5M threshold.

@Kristi Miller - we can take a look at the Rural location. LTV will probably be reduced, but it likely can be done.

@Beth Bullion - let's connect!  We are just down the road in the ATL:)

Kreg, I'm also based in the ATL.  Am I safe to assume that you've never built a SPEC home before?  We finance a lot of SPEC/Subdivision new builds, but of course, experience in new build construction is paramount.  I would try and either source a partnership with an Investor who has built successfully before, OR, source a licensed GC builder who you can partner with similarly.  When you have one member of the team/Entity with several new builds under their belt, it's much easier to secure debt financing.

This deal does not pencil at all, and you will lose your shirt with these numbers.  You need to be picking this up at $10M or less.

@Eugene Neal - Hi.  I'm a broker based in Atlanta, but originate nationwide.  One of my specialties is SF/B2R new construction/subdivision financing.  I have 2 going on right now in the GA market.  That being said, the best case scenario is the client already owns the dirt and it is fully entitled/shovel ready.  

@Harish M. - please resend, have not received.  [email protected]

@Harish M. - reach out and provide the property details and we can price it out for you.