We are looking for legitimate funding to construct Single Family Homes in Idaho. There is a critical shortage of affordable housing in the state which we want to turn into a mutually beneficial opportunity for all team players – profits for investors, qualifying lease-to-own participants, and developers in our revolutionary FlexPay program.
We are offering 10% interest-only terms during our 120 day construction period, with 6% interest on permanent financing, amortized over 30 years, due in 5. We have some flexibility to match current market rates. Each home will be under contract prior to groundbreaking. We intend that participants in our proprietary program will exercise their right to purchase the home by obtaining replacement financing at the end of 5 years, or the property will be sold on the open market. Either way, your loan, including any interest due will be repaid in full at closing. We are also offering 25% of the margin between payoff and the selling price, less disposition costs, to be paid at closing.
The homes will include a self-cleaning, auto sun-tracking, uninterruptible solar power source capable of supplying 100% of the average family's needs. So, there is an opportunity to sweeten the deal with a 30% Federal Energy Tax Credit to your benefit on the cost of the solar system, including materials and installation.
We desire 100% construction financing, with ~80% LTV permanent financing. You will receive an immediate ~20% equity in the properties and be further protected by a 1st lien on each home.
Depending on options chosen, these ~2300 square foot, 3 bedroom, 2 bath homes will average about $299,000 completed value, with a completed cost averaging $230,000. We anticipate completion of approximately 9 homes per month for the foreseeable future, but this number can be scaled up or down, depending on the funder’s capacity.
Please note that we desire to obtain financing for both the construction and permanent loans. Offers for financing will not be entertained unless concurrent lending commitments for both construction and permanent financing are included.
Interested investors, lenders or brokers should contact firstname.lastname@example.org for more details.
so basically you want the lender to take all the risk. We are a direct lender and do a tremendous amount of construction and fix and flip and i've never seen demands like this for a loan, obviously you cant obtain bank financing because your on this forum looking for private money or you dont have any assets to cross - good luck.
"We desire 100% construction financing, with ~80% LTV permanent financing. You will receive an immediate ~20% equity in the properties and be further protected by a 1st lien on each home"