sammy said:I have thought about 2nd mortgage, problem is I currently live in a manufactured home and banks won't touch it for a second.
Sammy ,
Is your manufactured home on leased land? If you own or in the process of buying the property, why not update...... build the first house there .
what part of the country are you in?
In the mean time .......... don't quit your day job!
Do the research as suggested and when you jump make sure its with a propper plan (keep your overhead low)
good luck , and stay curious
Dan
sammy said:I just started a new business and am having difficulties. I was hoping for some advice.
I recently aquired my general contracting license and have started an LLC. I had a private investor (or so I was led to beleive) that was going to finance me for 6-8 spec homes. He recently backed out. I would not have done this without having enough financial backing, however I have enough money invested in the company startup I can't simply turn away. I have been tring to find enough financing just to build one spec home.
I still have my job and I have a partner who still has his job.
Banks have told me they would finance projects after my first one, but noone I have found will help on the first one without me owning the lot free and clear.
I know everyone is going to tell me I need lots of money, I thought I had it, but given the circumstances and my perserverence, I beleive I can make this work, at this point I have too. I've even considered putting a portion of a lot on a credit card (not my first choice!!)
So my question is:
Does anyone have any contacts with lenders that may be able to help me out?
Any suggestions at all?
Thanks in advance