I am starting a residential construction business in SE NM and West Texas. My partner and I have been doing research on getting this business opened for about 8 months now. We have come to a huge roadblock. $$.
We have been working with HR departments of various companies around the area. They have informed us that they have a strong need for housing. One company that is new to the area had 67 employees in Jan. By Dec they want to have 200. Thus, there is a huge demand.
My partner and I have asked around and decided that we would start by offering an 18% return.
FYI on our backgrounds - I have 10 years experience in residential construction. 5 hands on and 5 in management. My partner is more on the tech/accounting side of things with about 15 years experience. He will be managing our website and handling the majority of the accounting/books.
Anyone interested in learning more, please contact us via our email address - michaelbradleyhomes@yahoo.com.
2007-02-23 02:13:45 · 3 answers · asked by Michael H 3 in Business & Finance ➔ Investing
Your best bet is a bank. You take out a construction loan on the house. It's a lot like a mortgage loan except it's while the house is under construction. When the house is sold, you pay off the construction loan.
Most people want some sort of collateral to invest in a business. In your case, the collateral would be the house under construction but your best bet is still with a bank or mortgage lender.
2007-02-23 02:32:46 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
From what I am understanding, is the american housing market is collapsing on itself, with huge unsold inventories, loan refinancing causing large resale market but few buyers, house prices falling and large incentives needed to unload the new houses up for sale, and housing starts dropping like a rock.
you picked the wrong time to start a residential house building company, and no one will give you the money and you don't have a hope in hell of paying back the money, much less 18% interest.
2007-02-23 03:46:28 · answer #2 · answered by bob shark 7 · 0⤊ 0⤋
decide for a joint project with land proprietor.. u make investments little and start up up shape... do bit advertising of the undertaking... (3-D format plan)... wen ppl come ask strengthen from them for booking.. and use the money for development something of the undertaking.. u can grant 2 domicile to land proprietor.... happy enterprise on the two the ends
2016-12-18 09:21:26 · answer #3 · answered by schwarm 4 · 0⤊ 0⤋