Construction Financing for Real Estate Investors
Higher Return on your Investment
This Blog post is intended for REAL residential real estate investors and those of you with adequate financial resources who are seeking a much higher return on your investment dollars. Mostly gone are the one time abundant opportunities to buy deeply discounted foreclosure homes because, with our market’s strong and sustained recovery from the 2007-2012 recession, Banks, lending institutions and mortgage servicers now want close to fair market value on their non-performing loans. In addition, Lenders are now under strict Federal Regulation to “bend over backwards” to assist challenged borrowers in avoiding foreclosure thereby retaining ownership of their homes.
Result? A dramatic reduction in the number of distressed opportunities other than properties that could be considered “dogs”. While “Fixers” suitable for rehab are still around they are being chased by a multitude of small-scale investors seeking to profit from a “fast flip” in a bull market.
I want to draw your attention to an alternative strategy that is already evidencing a strong uptrend:
REMOVE YOURSELF FROM THE CROWD AND FOCUS INSTEAD ON BUYING ONE OR MORE BUILDABLE LOTS IN THE RIGHT LOCATIONS AND BUILD NEW HOMES FOR RENTAL INCOME AND APPRECIATON AND/OR MARKET ON A 12-24 LEASE WITH PURCHASE OPTION.
There is a serious lack of quality single family rental home inventory in the Charleston area and a corresponding lack of smaller rental homes including 2-4 unit multi-family.
Here at CMSSC we are working with three very experienced RE investors who have “seen the light of opportunity” and who either already own sub-divided lots or who are actively negotiating the purchase of buildable land with the intention to build for rental retention and future appreciation or to “sell” on a Lease with Purchase option at completion.
Before I forget… never overlook the opportunity to buy an older house built back in the 50s, 60s or 70s that has been mostly unimproved and requiring an unrealistically high rehab expense. If it is located in a “hot” and/or improving neighborhood Negotiate the right price, TEAR IT DOWN OR DONATE IT and build NEW! See my article on this subject by scrolling down in this section.
We primarily build MODULAR homes primarily because of their superior structural integrity but also because an average start to completion timeframe is just FIVE MONTHS. That’s about 50% LESS time than it would take to complete a comparable “stick built” house.
Visit our New Home MODELS Galleries where you will see quality homes ranging size from 1,000 sq.ft to 3,500+ sq.ft Interested in multi-family projects? Please email me your request for our 2-4 unit townhome and duplex designs and floor-plans.
NEED FINANCING FOR INVESTOR CONTRUCTON? If you become a client I can refer you to a private Investment Group who is currently offering qualified investors access to financing that will cover 70% of the project construction cost including cost of the lot/land if applicable. Best of all, No Tax Returns or Personal Income docs are required. This Funding Group is an excellent resource for qualified investors seeking to build a SFR or a small-scale town-home or 2-4 unit duplex project for rental income or on a 12-24-month Lease with Purchase Option Agreement. Full details can be provided upon your inquiry. Minimum mid FICO 660. Funding to the lesser of 70% of project cost or projected “As Competed Value”.
Interested: Please contact Bob Corrigan at 843-364-5413 or email: firstname.lastname@example.org