Builder Financing Options for Spec Construction

1 year ago
2

Question:
I have been building single family homes in Northern California for the past 10 years. I have completed around 40 spec homes over this time period. I funded the last several through a local bank but they will not allow any more financing as I have $4mm of loans outstanding with them. I have great credit and always pay as agreed. Any suggestions?
Thanks,
Sam
Timestamps
[00:37] Banks over time become very conservative
[00:52] Builders are all experiencing pushback from banks nowadays
[01:02] What to do if you are a very rate sensitive
[01:13] Getting deals close in two weeks versus spending 2-3 months of the process through a bank
[01:22] What are the options that you can look at for spec construction?
[01:31] How many days will it take to get a CAPline in place?

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_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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