Barndominium builder? And Loan?

[Jenkins8PT]

Any recommendations for barndominium builders who will build in the Dayton liberty area? Along with any recommendations on who might finance a land loan and a barndo loan together??

Thanks
Jeremy


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[hunterburch42]

I have heard its pretty tough to get a loan on a barndo. I was told to separate loans one for land and for construction then you get change those into mortgage so you would have to have a lot of cash..?
Don't know exactly how true this is I have never done one I just know my brother was going to do but for what he wanted I believe it was gonna cost 60Gs up front... But I could be lying!

[Mike D]

I can’t help with a builder but make sure you do cost comparison between barndo and traditional stick build.

I was going to go the barndo route but it was actually going to code me more based on my desired design.

Also I was unable to find a lender willing to finance one. I know they are out there but much more limited.


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[Speedgoat]

I can’t help with a builder but make sure you do cost comparison between barndo and traditional stick build.

I was going to go the barndo route but it was actually going to code me more based on my desired design.

Also I was unable to find a lender willing to finance one. I know they are out there but much more limited.


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Good to know.

[Jenkins8PT]

Thanks!


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[solocam_aggie]

Look local for financing. Banks around town will be easier to get financing for a Barndo.

I guess it can change from area to area, but going barndo was definitely cheaper for us. Plus, the County Appraisal District valued my barndo $115K less than what my independent appraisal was. They can only place value on what they see from the outside, and from the outside its a metal building! We pay next to nothing in taxes.

[TKK]

https://www.lightstream.com

I did this on my barn - if your credit is good they approve in 24 hours with NO COLLATERAL. Up to $100K - good rates and interest only

[TX03RUBI]

The fiancée and myself are looking at buying a few acres to build on. I’ve built barns, offices, warehouses, and barns with finished out living quarters. The idea is to sub out the concrete, electrical tie in, and plumbing. I’ll stand the building, and finish it 90% of it.

I’m not too concerned with the cost of everything, but I’m concerned with how to make the loan work for me. We plan on paying cash for the land, then a loan against the entire build and pay it off as much as possible after selling my house. I’m not sure how to go about getting a loan for the build when I plan to do the work though. Is that even possible?

[TX03RUBI]

www.lightstream.com

I did this on my barn - if your credit is good they approve in 24 hours with NO COLLATERAL. Up to $100K - good rates and interest only

This may be what I need. With the land paid for and me doing the labor I think I could get away with less than $100k on the build. Then if the interest rate is above my liking, I could always traditional finance once completed.

[BrianL]

Any recommendations for barndominium builders who will build in the Dayton liberty area? Along with any recommendations on who might finance a land loan and a barndo loan together??

Thanks
Jeremy


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Go local credit union or bank. No issue on loan, but the type of loan and LTV to land sometimes makes it harder to do secondary market loan. Stay local and no problems.

No help on builder

[BrianL]

The fiancée and myself are looking at buying a few acres to build on. I’ve built barns, offices, warehouses, and barns with finished out living quarters. The idea is to sub out the concrete, electrical tie in, and plumbing. I’ll stand the building, and finish it 90% of it.

I’m not too concerned with the cost of everything, but I’m concerned with how to make the loan work for me. We plan on paying cash for the land, then a loan against the entire build and pay it off as much as possible after selling my house. I’m not sure how to go about getting a loan for the build when I plan to do the work though. Is that even possible?

This is a little more difficult, as most financials won't allow owner to also be builder GC. This can still be done but someone else will have to sign as the GC in most cases. I had my uncle sign as my GC.

[bloodtrailer28]

We used a local bank and it was a breeze! Talked to a few of the land and farm banks and didn't seem to difficult to use them. Our barndo was much cheaper than any stick house in the same size/ options I have seen.

[TX03RUBI]

This is a little more difficult, as most financials won't allow owner to also be builder GC. This can still be done but someone else will have to sign as the GC in most cases. I had my uncle sign as my GC.

That makes sense. I’ve got a couple GC relatives I’m close with, so that shouldn’t be an issue.

[TKK]

This may be what I need. With the land paid for and me doing the labor I think I could get away with less than $100k on the build. Then if the interest rate is above my liking, I could always traditional finance once completed.

also they do not charge any closing cost -

[turkeyhunter1]

Brando Builders beware

Any recommendations for barndominium builders who will build in the Dayton liberty area? Along with any recommendations on who might finance a land loan and a barndo loan together??

Thanks
Jeremy


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I can't really help with recommendations but I can tell you who not to use. I want to warn everyone else about American Pride Buildings and Marcus Thompson. He has also used other business name as well as several aliases. He got me in 2017.

You can go to "Victims of Marcus Thompson" on Facebook or check out my website at www.txbarnscam.com for a full list of known businesses and aliases.

I would also avoid Cherokee Buildings. At least without some serious vetting. There has been a lot of chatter on Facebook about them as well. Cherokee Buildings are out of Palestine or Jacksonville maybe.

If you need more info I will gladly discuss privately. If you have any info about either of these outfits PM me. The Harris county DA, Angilina county, and Bossier Parish all have warrants out on Marcus Thompson.

These guys are all over the place. Marcus has taken money from landowners from Austin to Shreveport and Oklahoma City to Victoria and the Hill Country.

Always, always, always vet your contractors and require a release of "mechanic's lean" before signing a contract. Notice I did not say before you pay money. You need to do this before signing the contact.