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Spec Construction Loans: A Spec Line of Credit Is Worth the Paperwork
March 24 2022
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,..
Topics: Spec Homes
Spec Homes and Pre-Sale Homes: The Relative Benefits for a Spec Builder
March 24 2022
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..
Topics: Spec Building Spec Homes Pre-Sale Construction
How a Lender Sees Spec Construction Success: Insights for the Investor Builder
March 23 2022
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..
Topics: Spec Homes investor
How Is a Spec House Different From Other Kinds of House Construction?
March 23 2022
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..
Topics: Spec Homes
How a Private Lender Compares to a Bank Lender for a Spec House Construction Loan
March 22 2022
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..
Topics: Spec Homes Construction Loans
Construction Loan Terminology: What It Means and Why It's Important
March 22 2022
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..
6 Tips to Prepare for Your Spec Construction Loan Application
March 18 2022
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..
Topics: Construction Loans
Common New Construction Appraisal Problems and How to Handle Them
March 18 2022
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..
Topics: Construction
How Do Spec Home Builders Make a Profit?
March 18 2022
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..
Topics:
Mold Prevention Tips & Best Practices
August 24 2020
Mold is a fungus that produces spores which are spread by floating around in the air. It is present in indoor environments, thriving in areas that are moist and warm. When a spore lands on a damp..
Tenant Retention Best Practices
August 21 2020
When you build a property that is designed for renters, whether it’s a multi-unit apartment or a single-family home, tenant retention is a big consideration. Especially if the tenants are good..
How to Be Successful in Residential Building
August 20 2020
Residential building can be a lucrative business if you know what you are doing. There are the different types of builds to consider with custom, semi-custom and production building as options. Do..
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