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  1. #11
    Monster Buck teddrick's Avatar
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    Quote Originally Posted by OSOKILL View Post
    SHHHH dont be givin out any warnings that it could easily happen
    Haven't heard from you in a while, I see the upper management must have lifted your ban, Welcome back.

    If at all possible, as someone suggested, take out a line of credit/mortgage on your home if you have the equity. I have done this 4 times now and as long as I have the equity, that is what I'm going to do.
    the banks will drive you nuts and the bridge loan/construction loan will be at least 2% points higher. And there are different ones, up front monies or money after each phase is complete
    on a different note, pay the $200.00 and get a "new home builders license" no requirements but it makes the paperwork go through the building dept much easier.

  2. #12
    Rack Buck OSOKILL's Avatar
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    haha yeah they did thanks .... even though I didn't go anywhere lol

  3. #13
    Dominant Buck tcook8296's Avatar
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    Quote Originally Posted by ithaca10 View Post
    Are you a Vet you can get a loan from them.
    No, I am not a vet

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  5. #14
    Dominant Buck tcook8296's Avatar
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    Quote Originally Posted by Sitka View Post
    Might be a good idea to talk to your bank or mortgage loan officer about?
    Don't know your situation, but if I ever came to my wife with a suggestion that I got from newjerseyhunter.com concerning our new home's financing; let's just say that it wouldn't go over too well
    Actually, there are all kinds of people on this site you would be surprised. I have met some good people here and some complete whack jobs. I have built 2 brand new homes before, run my own company for 24 years. Im willing to tackle almost anything, I just like to research things a little before I do it . Like I do with my company, if we cant do it, we consult with people who have done it or bring in someone that can do it if we cant handle it.

  6. #15
    Dominant Buck tcook8296's Avatar
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    Quote Originally Posted by bucndoe View Post
    Take a home equity line of credit. Do the construction then refinance the total on the new home.
    Current home has just been sold.

  7. #16
    Dominant Buck tcook8296's Avatar
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    Quote Originally Posted by fish_hunter View Post
    I wish they would just ban you already. You think you have a sense of humor but to fill you in you really don't.
    I missed it but I have a good idea

  8. #17
    Dominant Buck tcook8296's Avatar
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    Quote Originally Posted by teddrick View Post
    Haven't heard from you in a while, I see the upper management must have lifted your ban, Welcome back.

    If at all possible, as someone suggested, take out a line of credit/mortgage on your home if you have the equity. I have done this 4 times now and as long as I have the equity, that is what I'm going to do.
    the banks will drive you nuts and the bridge loan/construction loan will be at least 2% points higher. And there are different ones, up front monies or money after each phase is complete
    on a different note, pay the $200.00 and get a "new home builders license" no requirements but it makes the paperwork go through the building dept much easier.
    would there be a need for a home builders license if the homeowner is the gc?

  9. #18
    Monster Buck teddrick's Avatar
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    Quote Originally Posted by tcook8296 View Post
    would there be a need for a home builders license if the homeowner is the gc?
    NO you do not, However I have found it is much easier to get through the building depts., AND in the unlikely event that you sell within 10 years then you can pick up the new home warranty insurance for the remaining portion. I have built several single and multifamily houses, but yet to sell any of the houses I have built.
    I see you already sold, so get your duck in a row as to what you want, the biggest delays are from indecisions and then lead times. I broke ground on one multi family on April 21st and a second one 7 days later with all apartments being filled on October 1st, even with a few delays because of the work my sons and I were doing. Knew what was going into everything.
    The house that I live in, has not been completely finished after 4 years because My wife keeps changing her mind.

    BTW. Look how some of the ZERO energy homes are put together IF you are looking at a long time home. I doubled the size of the house I live in and cut my energy cost in half.
    Good luck and hope you and your wife have patient's for each other as this project can and will put a strain on most marriages.
    tcook8296 likes this.

  10. #19
    Fawn graphadflinin's Avatar
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    When my family and I were building our house, we took out a loan from a private credit company. They gave us a loan in the amount of 500k$ and we were happy to sign all the contracts without reading the conditions under which we're given a loan, as the girl who issued us the documents told us everything and said that there's no need to read. Because of our stupidity, we had to deal with collectors from the company frontline-collections.com who came to our house every day and didn't let us live in peace. As a result, we paid the loan in the amount of 1.500.000$! Be careful when you take out a loan and read the terms of the contract and then you won't have problems.
    Last edited by graphadflinin; Yesterday at 08:42 AM.

  11. #20
    Non Typical Treestandman's Avatar
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    WELCOME FIST POST! if your from chicago i herd of badest man named leroy brown. meaner than a junk yard dog. that said i wouldnt sign anything without the proper people lookin at it. maybe have a slice of chicago style pizza next time and take your time readding befor sinnin your hard owned money away. nebver rush into anything. i mean i thought long and hard before wanting to giving my bank account and credit card info to a prince in nigerias. they says i will get millions in my account as soon as i give them that stuff. i says to myself if there gonna give me million i should hold out a little longer. bet it wont be long before a get offers of a bajillion dollars so im gonna hold my ground. im in no rush. if i hold out it will pay off i says to myself.

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