In construction, time and money are very important. When buying property, you want to be able to act fast. Opportunities can show up quickly. A lot hits the market, a deal becomes available or a proje...
Managing multiple builds at the same time changes how you think about financing. It presents new and unique challenges. If you’re a builder running more than one project, you already know the challeng...
Building spec houses without guaranteed buyers may require a different approach to construction financing. In a competitive housing market, where a shortage of desirable inventory may create significa...
If you regularly build new construction homes on a Spec or Pre-Sale basis, it’s likely that you’ve worked with different lenders. While there are many kinds of loans available for new construction, li...
In the world of new home construction, there are important differences between home types, and knowing those differences (and what they entail) is important when traversing new home building territory...
Spec construction is speculative – it’s a property built without a buyer already lined up. There is risk and potential reward. A spec property probably isn’t a long-term investment; many projects are ...
When it comes to new construction, there are several kinds of residential builds that builders may consider. One of those, the spec house, provides interesting opportunities and challenges. What is a ...
Builders looking for ways to fund new construction projects, like spec or pre-sale home building, may consider financing using a private lender. While it is one way to get a spec house construction lo...
If you’re thinking of applying for a construction loan, there is a lot to consider, and while doing your research, you may run into some unfamiliar terms. Below is an explanation of some construction ...
Most builders constructing spec houses want to optimize their own capital . So they seek funding with a spec construction loan. Most or all of the money to build a house can come from a lender. A lend...
Most lenders financing new construction require an appraisal to determine your project’s value. Unlike appraisals for existing structures, a new construction appraisal is essentially a third-party val...
A “spec house” is a new home built on a speculative basis, created with the intention of selling but with no buyer lined up in advance. Known also as “move-in-ready” or “inventory” homes, these proper...
