Financing Fair is Insurance for One Builder

Filed in Housing Finance by on April 16, 2014 0 Comments

Builders planning to attend the NAHB Southeast Builder Financing Fair in Atlanta on May 20 say that while conditions are easing, it can still be hard to find the money to get some projects going. Jim Cheek, whose RedBrick Homes & Development LLC in Atlanta is planning a 17-unit development of homes in the $900,000-plus range, says when he started planning the project six months ago, “nobody wanted to touch anything [priced] that high,” even though Cheek owns the land outright and only needs construction financing.  Last week, he and a one potential lender walked the site and a deal may be in the offing, but Cheek plans to attend the fair anyway. “I want to see what other lenders are out there in this space,” he said.

The financing fair is designed to provide one-stop shopping for builders and developers interested in learning about and talking to a diverse range of funding sources—local banks, regional and national lenders, private investors and financial advisors. It’s set for  9:30 a.m.-4 p.m. at the Georgia International Convention Center, is open only to NAHB builder and developer members and is free, including lunch. Details and registration: nahb.org/FinancingFair.

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