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Know of anyone interested in investing in a residential construction business? |
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. $$. 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. 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. |
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