How to Get a Construction Loan in 4 steps
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- Опубліковано 21 лип 2024
- Here are the 4 steps to getting a construction loan for anybody who wants to buy land and build a house (this video covers residential construction loans). We're teaching people how to buy land and build houses, and financing the build is one of the main concerns people have. Watch this video for an overview of the process and to answer questions you have about getting approved for a loan.
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Jerome Maldonado is a 25+ year veteran in the real estate investing industry. Most recently, Jerome entered into business with Tai Lopez and Alex Mehr to purchase distressed retail brands such as Pier 1 Imports and Dressbarn, which they will be re-launching as ecommerce brands. Jerome’s real estate expertise and connections will provide these brands with the commercial warehouse properties necessary to facilitate their business. Jerome also owns multiple 7-figure businesses including a construction company and a realty company, founded in 1998 and 2000.
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--DISCLAIMER-- The suggestions, advice, and/or opinions that are given by Jerome Maldonado are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Jerome Maldonado and Jerome Maldonado brands harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by Jerome Maldonado as a perspective based upon experience. - Розваги
I have listened to a few UA-cam G.C. And home builder. I like that your not being an entertainer or making jokes every 10 second. Talking about something that Relative to building a home. You’re giving us information to apply. It’s not slow and long winded. In my opinion your video is not full of fat is very direct which I appreciate. I love to listen informative information because I want to build my own house. 💯
Thanks for watching bro
Thanks for adding to UA-cam University
Thank you for this. You’re doing people a solid by giving step by step instructions.
Love the video….great information…Thank you! Much Love ❤️
Solid info. I’m in the middle of building a short term rental in CO as well as in the entitlement process on a small commercial building. As the saying goes it’s simple, but not easy. Keep up the great content, Jerome!
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Thanks for sharing all of your knowledge brother. I’m super hungry to learn and implement this information to build my first one. Good to know there is some one out there doing what I have dreamed about. Thanks a Billion!!!
Love it bro
Let me know how I can help
Info@jeromemaldonado.com
Very informed video. Please keep doing great work
You're AMAZING , really could use you daily need to watch this AGAIN and your other videos. THANK YOU !!!
Thanks! Follow me on IG and FB for daily content. I put links in the video description
I will be rewatching this several times to take notes. Very valuable information
Love it
Love your content, im 22 right now saving up to start my own multifamily projects. Ive been binging and taking notes on all of your videos 🙌🏼
Proud of you bro peppers know how we can assist you. Happy to help you push forward on things. Love your ambition.
I totally freakin' wanna get into it full time/ on the side time full time.
Gonna keep listening to this. There's a lot to unpack here!!
Glad you are learning from this! Lots of my students are building part time now. Check out our webinar when you're ready: www.eliterealestatesociety.com/homebuildingyt
Great video!!! Great free information
This video cleared a lot of fog out. Thanks
Very informative! Please continue making more contents. Looking forward to joining your mentorship team soon 😊
Absolutely 💯
This video was so informative for me . Thx u
I have to admit, you cleared up all my questions and concerns, I love your attention to detail! Can’t wait to see you in Vegas and on the job sites, I would love to share ideas and notes. This is the best run down on purchase, financing and construction. Thanks for information!!!
See you in Vegas
Hope you enjoy Vegas
taking notes! I appreciate the content!
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Valuable stuff man thank you for sharing your knowledge
Appreciate you bro 💪🏽
Thank you so much for the information.
Thanks man. Very helpful.
Thanks that’s a lot of knowledge!
This is gold man. Thank you for sharing. 🔥🔥🔥
Thank you
Really good info I learned so much thanks for keeping it real
Always 🤙🏽💪🏽
Extremely valuable content! Thank you!
Thanks. Great info!
Great content, glad I found the channel!
Thank you
Thank you sir for teaching us
Amazing info! Feeling inspired. Thank you
Great content brother!
Huge value. Good stuff
So helpful sir. Thank you
Excellent video!
Thank u for this information
I need this because I'm not aware of everything yet so I have to listen so I can get my goals done...
Thank you very helpful
love this info. working on building my sec home now.
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I like the hustle Jerome!
Thank you very much, Jerome. Just came across your channel. Will be in touch soon.
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Hey I liked your video really informative 👍
I love watching your videos because I learn so much for free, thank you we appreciate you Jerome 🙏🏾
Jerome, Thank You💯
Jerome your awesome. Thank you so much for this video.
Thanks for watching brother
Great info, thank you ! I already have a land almost paid off. I plan to build a 800 sqft 1 floor house. Because the house is small, all this process will be easier ?
Thanking am information.Looking forward to building adults' care homes from scratch.
Best video I lesson to on how to get started.
Thank you for such great information. We were asked to give a list of building codes for the building and safety planning office.
We are having them come out to our land before we start hiring surveyor s etc.
Are you a GC or owner builder?
@Jerome Maldonado Same question. I'm a owner looking to see if 4 plex are allowed so I can start a 0lan The city is not helpful
Thanks Jerome 👊 you da man
Great information thank you
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Jerome, you are one passionate animal! Love your enthusiasm. Wish I had found you before I made some big, stupid "pixie dust type" of mistakes on some rental property I have.. Hell yeah, I see value in your videos! (Kevin Koestler, Owner)
Appreciate you watching. Let’s keep you investing.
This is really great info Jermone
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Thank you Jerome!
Thank you .r. Maldonado. We own 8 lots we want to build on in Calif.
Let’s get you moving forward
Love to help you make them a home run
Jerome, how the hell do you continue dropping such dense, golden knowledge??
This channel is a straight up graduate degree on steroids.
You're the man.
Appreciate you.
Let me know if you're open to work in the northeast US.
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@@jeromemaldonado appreciate you, big dog. Looking forward to our first deal together
Great content
Excellent content, Jerome.
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Love love love it!
Thank you
How interesting video!!!
Good Information
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More content, please. I'm a newbie temporarily Atlanta, ga
where r u in process?
Let me know if you need personal assistance helping you get into the business
Me and my team would love to help you
I really am trying to get one residential for my business this year I got commercial finally ❤on to the next stage
Thank You Jerome
Thanks for the good insights..
Thanks for watching
Great content I’m looking to build multiple quad plexes on a piece of property.
Crush it !!!
I just recently completed the build on the commercial Automotive Shop in the profile pic. I have a little experience acting as a GC on a rental duplex a few years ago but that was a renovation project. I am now trying to get a construction loan for our retirement home. My question to you is are banks approving anyone to build a new home without building experience? I would think the banks want to see building experience and or education before handing over a lot of money to someone without prior building experience. I’m in TX
Every bank is slightly different but there is a status quo with most banks regarding construction loans. We can show you the process. It’s all in the entitlements and permitting process. Happy to work with you and teach you how are students with no experience move forward on construction and loans as well as private lending
www.eliterealestatesociety.com/homebuildingyt
Thank you Senor !
I’m building in South GA, your content is informative and valuable. I would love to work with you!
Hey Dedric - watch my webinar and you can schedule a call with our team at the end to get involved with us. We have some students in GA too. www.eliterealestatesociety.com/homebuildingyt
Need cash first to buy a parcel? Financing includes cost of well drilling, septic installation?
Thank you for the “practical” info
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I just subscribed. Thx
When drafting plans, how much of the design is your own idea vs the architects’s? What does your initial communication with the architect look like?
I typically convey to the architect what I am looking for, and let them put their creative juices together. Then I usually have two or three back-and-forth renditions with them or I help them perfect it and make it my own.
This has help me tremendously. How do you suggest financing the cost of the survey’s, architect, civil engineers, permits…
I have an acre of property that I want to build multi-family unit on. Basically I need a mentor…
What about getting the actual loan? I talked to my hard money person and he said it's not the easiest thing to get a loan. You need a experienced GC with certain new builds under his belt. That information is super important to mention. Unless I'm wrong
I will do a video to help with options
You are correct. Most lending institutions will not loan an owner to build their house. They want to take a risk with a novice, they want an experienced builder.
An option is to connect with custom home builders that specialize in coaching owners to build their own home. They have subcontractors and building experience to coach you through the design, permitting, lending institutions, and coach you though the whole process.
Housemax funding loans to new builders
@@jeromemaldonado did you do the video ?
thanks so much man. ive got some money and time, but id like more money. I already own 2.5 acres right next door to my house. Time to build.
Let us know if we can help you in anyway feel free to schedule a call with me and my team anytime.
www.eliterealestatesociety.com/homebuildingyt?sl=jerome
I might want know fully your video if I have not gone through this entire process .
I have gone through civil engineering, architectural engineering, Geo technical engineering, Structural engineering and permitting process with city. Altogether took me 2 years to get my home Constraction permits. It’s ready to apply with Bank to start construction. Getting GC. Quote’s will be different than 2 years ago because city has changed my primary plans to follow city regulations.
I wish I would have had the opportunity to work with you when you first started to shave off more than half of that permitting process. Let me know if we can be of assistance. Would love to help you scale
www.eliterealestatesociety.com/homebuildingyt
Thank you🙏🏽 Watching on repeat.
Great advice! Im waiting back from the city after the proposal I sent. I have 7 acres in a single prop residential area only with an easement down the middle of the property which makes it unattractive for my wife. wondering what I can do
Love it, let us know how we can assist you. Keep crushing it.
I have land, permits ,plans but we did a redesign on elevations, plans are back in building department so i should start on my construction loan before approval?
Gold right here
Great info. Where do I go about finding each of these types of professionals? Typical costs for architect? Surveyor? Engineer? Etc
@@lorilalonde3890 keep telling me through my UA-cam videos. I have a lot of videos out there to explain all of this or you’re welcome to schedule a call with my team and share with you how to be a part of our community.
Love this series of content. Victor Da Connector Dallas Texas
while waiting the 30 to 60 days, you said to get all 4 things ready we have to pay that upfront? how much should we have upfront when we get a construction loan. plan on getting a land and build a manufracter home.
Very valuable Jerome - I want to work with you. Can I work for free to learn how to build my house
We are always taking applicants for good people. Please let me know some areas that you have super powers in that we may be able to benefit from utilizing your talents. You’re also welcome to schedule a call with my team to see how you can work with our team and we can assist you through teaching you the process
www.eliterealestatesociety.com/homebuildingyt
Excellent video lots of good Information. I’m a builder in the Seattle area, building my own house. What’s a good bank for construction loan.
Love it
Hey man I like your video 👍 thanks. So I know you mentioned to keep the pressure on everyone. But by min 15:30 you have done so much with permits, engineers, and architects. Sounds like thats quite a bit of money already. Does the loan not cover that part. Or is that jus simply out of pocket cost that we can't avoid or put into the loan.
Thanks in advance.
Happy to teach you how to expense everything and put you in contact with some of our affiliates. Schedule a call with me and my team and would be happy to help you
www.eliterealestatesociety.com/homebuildingyt?sl=jerome
What kind of credit do you have to have to get this kind of loan from a bank or any other funding source ?
Great great advice. Just purchased our first 5 acre ranch. This is great! Just gained a subscriber. Thank you! #HausHillEntertainment
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Where your event tomorrow in Dallas?
Fairmont downtown
Is there any specific lender that you recommend when building your first house?
I encourage people to go to a small local lender or credit union in your area. A lot of the local lenders are more apt to work with you because of relationships or national brokerage firms and national lenders. You’re just a number so they’re looking at everything you have based on a set résumé.
what about manufactured homes? do you still need an engineer and architect?
So is the loan for the land separate from the construction loan since you do it first? Or is it better to buy the land out right?
Can you recommended residential construction loan lenders in Sacramento CA?
i'm curious what are excavators charging? are they charging millions on say 20 acres raw land... i know you can't be exact but any idea?
I wonder if construction loans are required to be w2 just 30yr loans
or if the property is build to be sold there is no income required but rather the land as a down payment
Quick question would it be easier to do a hard money loan?
What happens if the loan doesn’t get approved? Does ordering all of the materials prior to the construction loan closing require cash out of pocket?
We have an entire process. One step at a time. The process is not as complicated as you think and there’s plenty of capital out there even if you cannot get a traditional construction loan we can show you how to get capital investors. Especially now that the stock market is as bad as it is there is a lot of capital investors that love this type of product
www.eliterealestatesociety.com/homebuildingyt
This mans giving out free educations
I have a property in Paradise ca plans and permits are all done I just need to get a construction loan on but interest rates have been so high it does not seem like the time is write what do you think ?
It’s a perfect time to start entirely by the time you’re through entitlements the banking will start to slowly repair itself, and landing will be smoother as well as lower rates
Hey Jerome any advice on renewing expired permits
Expired permits are not difficult they just have to comply with current building requirements you may have to update some of the paperwork and get your architect to stamp updated plans. Let me know if you need assistance. Me and my team would be happy to work and help you out.
www.eliterealestatesociety.com/homebuildingyt
You don’t need a ring light for this video it’s catching the glare and your TV screen behind you also put your camera up higher so it’s not looking up at an angle.
Thanks bro
I just record my team cleans me up
Great tips though