Collateral: zoned multi-use - residential or commercial or both zonings at the same time
2 structures:
1.) 28337 Paperwood Lincoln, MO 65338
situated at the 78 mile marker of the Lake of the Ozarks in Western MIssouri a one 2-story, steel construction - 4,800 sq ft -structure that has been used as residence & commercial is curently being use as both residential and commercial occupants - lowest estimated value = $404,000
1st loan - $ 37,000
ready-to-build home construction - my sale price is $15,000 no comps 1st loan - none
2011 purchase included 11 ready to build contiguous lots zoned multi-use.
legal description is: lots 6, 7, 8, 12, 13. 14, 15, 16, 17, 18, 19 in block 33, Plat 5 Eagle Bay a subdivision in Eagle Bay a subdivision in Benton County Missouri, as described in the recorded plats thereof.
The Smaller home/structure is located on Lot 7. The Borrower owns the structure and the lot it is on.
The larger 4,800 sq ft structure is located on lots 15 and 16
The 2-story steel structure which is is the home and the offices of these Borrower owned companies: Boulevard Real Estate, LLC (registered with the Missouri Secretary of State in 1999, owned by Daniel Hammond with 100% ownership, Boulevard at Eagle Bay, LLC a sole member Limited LIability Liability Company for which Daniel Hammond is the managing member and 100% owner. Sierra Construction a D/B/A awaiting registration.
The related companies and Daniel Hammond now occupy the structure. The borrower Danny Hammond is aware that for some loans he may not occupy the collateral property. That is not the desire of the Borrower, but for a loan that has a good probability of a pathway to success the guidelines will be accomodated.
Both structures are located in Eagle Bay Subdivision and are are contiguous. This makes onsite location very desirable.
I moved the section below from the Post Title. It is not current but I saw no reason to just delete it yet. It is known that I can't run the project very long on borrowed money. the core business is building affordable single family homes to either be sold at a profit or to long term finance some or all of what we build to sell as rentals.
There is no number of construction loans that I have determined would be ideal for the project. 4 is very low. But, I can't detremine that. The money determines that. So when a lender asks what I want I think we have not reached that point. Why will someone give me construction loans and how many are they considering giving me.
Boulevard Real Estate Is Looking For Loans To Fund 3 Construction Loans @ $120,000 each In Eagle Bay on the 78 mm of Lake of the Ozarks, MO. The Lake is 100 miles long from Bagnell Dam backing up Lake of the Ozarks to Truman Resevoir dam. They are both on the same river system.
3 Construction Loans @$90,000 each = $270,000 funding to build new homes on Ready-To-Build Construction Lots. All of the lots are zoned "multi-purpose. In Benton County Mo that can be commercial or residential or both.
