For you SPEC builders, Fix and Flippers and community builders...here you go.

[Tamalewagon]

I can do these loans in ALL states except Utah, North/South Dakota. Edit: This is not for an owner occupied build or 2nd home. This is strictly for investment purposes.

 

[Tamalewagon]

 

[Tamalewagon]

I can do these in ALL the western states except Utah and North/South Dakota.

 

[79schiada]

This is good to know. Thanks for posting, Scott. I may be looking into a flip sooner than later.

 

[MillerTime]

How about Oklahoma?
I might be interested. I bought some lake land last year and payed cash for it. Was thinking about building 2-3 homes on it. Close to tulsa area.

 

[Tamalewagon]

How about Oklahoma?
I might be interested. I bought some lake land last year and payed cash for it. Was thinking about building 2-3 homes on it. Close to tulsa area.

Oklahoma is on the approved list. Please PM me your email address and I will send you detailed information.

 

[MillerTime]

Oklahoma is on the approved list. Please PM me your email address and I will send you detailed information.

Message sent

 

[Tamalewagon]

Please note, this product is for developers, flippers, investors etc. This is not meant for primary residences or owner occupied properties or soon to be owner occupied. I am getting good feedback on the product and it is a great product to free up your liquidity on builds.

 

[HNL2LHC]

Hawaii?

 

[Tamalewagon]

Got a New Construction product for build ready lots to add to the stable. Check it out:

Key Facts about our New Construction Loans1

• Construction loans offer funding up to 100% of construction costs with multiple draws available11
• Land advances available up to 75% of land value12
• Individual loan amounts $100K – $2MM
• Loans available for single family and multi-family properties, including properties up to 20 units
• Exposure Limit options available for borrowers with zero experience

	New Construction Loan
LOAN PURPOSE	Ground-up construction loans for developers and investors building 1-5 properties at a time Lot financing can be included, if lots are in build-ready condition Program includes exposure limit (LOC) for experienced large volume investors, with options for inexperienced investors
INTEREST RATE1	6.75% and up
LOAN AMOUNT	$100K - $2MM (max $500k for inexperienced investor)
TERM	12 months (standard), with optional extensions
BORROWER TYPE	Individual or Entity
MAXIMUM LOAN-TO-VALUE (LTV)7	Up to 75% of After Repair Value (ARV)
MAXIMUM LOAN-TO-COST (LTC) COST IS PURCHASE PRICE AMOUNT8	90%
WHEN DO WE USE LTV VS LTC?	Generally, we use the lesser of LTV or LTC calculation
REHAB/CONSTRUCTION FINANCING11	Funding up to 100% construction budget up to % Approved LTV of Total Cost
PROPERTY TYPES	Non-Owner Occupied: Single Family Residences (SFR) 2-4 unit properties Multi-family 5-20 unit properties Mixed-use Detached or townhouse style condos

 

[Tamalewagon]

FYI, we just pulled 3 new great lenders for non QM loans (asset depletion, bank statement qualification loans etc.) for owner occupied AND investment properties. These are NOT hard money lenders.

 

[pronstar]

I need to hit you up in a bit re:rehabbing houses that I’ll retain as rentals

 

[Tamalewagon]

I need to hit you up in a bit re:rehabbing houses that I’ll retain as rentals

Let me know when you're ready.

 

[HNL2LHC]

Where are you located? We are looking at properties to build on. Looking for finance options then 1031 after the build. Just stated the planning but want to know what options are out there. Also didn’t see an answer to my question of Hawaii but that is not were we will be looking..

Thanks!!!

 

[Ace in the Hole]

Where are you located? We are looking at properties to build on. Looking for finance options then 1031 after the build. Just stated the planning but want to know what options are out there. Also didn’t see an answer to my question of Hawaii but that is not were we will be looking..

Thanks!!!

Tim if he can't help you on this lmk. One of my friends from college (I was his best man lol), does mortgages and kinda specializes in dealing with our friends who leave Hawaii on weird transactions on the mainland.

 

[HNL2LHC]

Tim if he can't help you on this lmk. One of my friends from college (I was his best man lol), does mortgages and kinda specializes in dealing with our friends who leave Hawaii on weird transactions on the mainland.

Thanks Joel!!! Turns out that we ended up grabbing a lot and doing the research now on that. We return to Havasu tomorrow. Maybe the next time we are in town we can talk specifics.

 

[Ace in the Hole]

Thanks Joel!!! Turns out that we ended up grabbing a lot and doing the research now on that. We return to Havasu tomorrow. Maybe the next time we are in town we can talk specifics.

Ill be in town this weekend at some point for a week or so. I talked to him today about another weird project im trying to find financing for..he's creative which comes in handy lol HMU when you are in town.

 

[HNL2LHC]

Ill be in town this weekend at some point for a week or so. I talked to him today about another weird project im trying to find financing for..he's creative which comes in handy lol HMU when you are in town.

We are in escrow on a mixed use property and looking at our options of moving from Hawaii properties to Havasu. Will certainly reach out to you….

 

[TheRaptor76]

Can this financing be used on a vacation home?