# Construction loans



## liltrainerboy (Nov 16, 2006)

> This was for a 1900 sf 2 story modular in MN last summer-
> 
> Survey $1700
> Permits and fees including water and sewer access charges $5400
> ...


just out of curosity what does this house sell for.... and in the 85000 does that include cabinest and floors and such?


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## HUDSONVALLEYEXT (Aug 29, 2006)

Early in this post I was talkin about imcome being equal to living costs. After watching a few Flip this house episodes and seeing the home prices in CA I guess my statement is wrong...There is no way people there make enough to be equal to the home prices. Is any one here in CA?


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## LNG24 (Oct 30, 2005)

HUDSONVALLEYEXT said:


> looks like we are going to go modular we can get the loan. Does any have a cost breakdown on a modular? We are in Southern NY heres what I figure
> 
> land $50,000
> land prep $3,500
> ...


Have you gotten actual estimates for this stuff. $10k on a foundation? Land Prep $3,500? LAND $50k I don't know of an actual building lot thats $50k Approved building lots around here start at $150k!

I am very close to you, we shoudl meet up and discuss this.


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## PHI (Feb 9, 2007)

Do not buy Junk, ( modular) Construction loans are easy to get but usually have to over built by a builder who is approved by your lender.
Get a least three quotes by builders in your area & check out their work. As to your loan type on the web for loans & pick the best deal. Always use an attorney on real estate transactions!


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## Clean_pro1 (Feb 11, 2007)

*construction loans*

I do contract cleaning so this is just fyi (for your info). I was working with a developer who fell short of funds to complete a subdivision with 14 homes. I'm not sure of all the details but he went thru a company recommended called Home Owner Equity Management. Not sure if this info is heplful but it saved his neck when times were rough. 

Karen Honeycutt/ Loan Consultant
Toll Free: 888-567-4636* 302


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## Tmrrptr (Mar 22, 2007)

Yup!
CA is gettin pricey.
Avg home in bay area w 10% down now abt 3300/m + taxes.
Builders are really slowing down. unsold units...
I just heard od a 1.5m spec dropping out of escrow.
buyer just didn't have the cash to blast it through.
Now the builder/seller is kinda grim.
W/arm's and such, u don't wanna start out here in the trades.
median house is abt 535k
I told my own kids to leave the state.
Nothing for them here except nice weather!
market is slow, very slow.
I know of 3 small tract developments where they just stopped.
everyone went home.
and there's a ton of other projects that seem to have gone into some kinda tread water mode. a few workers puttering every other day.
Then, if some work does come available, fierce competition w migrant workers. Can't beat their prices and they work hard and long.
I'm interested in Oklahoma !


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## Same Old (Mar 9, 2007)

elvinstheman said:


> Dustball said:
> 
> 
> > Land in St. Paul is around $40-$70k for a typical 40x120 city lot.
> ...


That sounds pretty cheap to me and I live in Minneapolis (the two cities share a border for those of you not familiar). 

Show me a $40k lot. I haven't seen one of those in ten years, in the city anyway. You can go out to the farms getting converted into subdivisions with a 40 minute commute to the city for those prices I guess. But a 40x120 in the city?


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## Andy R (Mar 16, 2007)

HUDSONVALLEYEXT said:


> looks like we are going to go modular we can get the loan. Does any have a cost breakdown on a modular? We are in Southern NY heres what I figure
> 
> land $50,000
> land prep $3,500
> ...


I dont see alot of things in your figures that you will need, the home will need set it should be shingled with the set,crane rental for the set , you will need to install a heating system unless your having one installed in the modular but you will still need some connections done, I would personally have the home engineered for a steel beam in the basement modular homes require alot of lolly columns and take up space for a nice sized room in the basement that is just my opinion, you will need to have drywall installed at the mate lines same with flooring, trim, the homes come with only a primer so you will need to repaint the whole home, add basement stairs, you will need to install the siding on some of the home, basically when we sell a customer a modular home we tell them the home price + 75,000 that is a rough estimate of excavation, foundation, mechanicals, paint, flooring, etc. So I would recommend sitting down trying to get all the figures you need add some extra because nothing is perfect. One other piece of advice you do what you want but we never get the carpet installed we have them cut the roll for each room and leave it in the home, when they install it at the factory it never comes out right.


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## wackman (Nov 14, 2005)

ARCS said:


> If you can get all your excavation done in that 3500, please send that guy over here to minnesota to work.


Then send him to Portland Oregon after that, typical here is 20k.


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## limiman (Jun 17, 2006)

I just got through talking to a dealer the other day in Southern Oklahoma. It was through a Patriot Dealer(Modular)Very nice and well built homes. The price included foundation,crane rental and a complete house ready to move into and the price was $55 a ft.


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## Mud Master (Feb 26, 2007)

limiman said:


> I just got through talking to a dealer the other day in Southern Oklahoma. It was through a Patriot Dealer(Modular)Very nice and well built homes. The price included foundation,crane rental and a complete house ready to move into and the price was $55 a ft.


 
That is wierd..They must have 2 divisions.

I used to hang and finish communities for Patriot Homes, but they were all stick built. I never did a modular one for them. In fact I have only done a few in my entire life, I hate them. Something is always wrong or out or un-level, so I have to build out the walls 5''-7'' with mud to make it look right. Only other option would be to re-rock the whole wall, which was to much money for ANY of the builders I did those homes for. I am very anti-modular from a contractors perspective.

But like I said before, I just thought it was wierd cause all those years I did homes for them, they never did modulars here in Maryland. I guess they figured they wouldn't sell here or something.


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## limiman (Jun 17, 2006)

Heres there link

go to patriothomes.com


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