FINANCING YOUR CABIN SHELL

FINANCING a shell is super easy,  requires no credit check and just (1 payment down at my location) unlike most we have actual (in-house) rent to own on the Graceland buildings, I say that because most companies use a third party with a lot more red tape and hurdles to jump through.

 Yes, rent to own is higher overtime versus cash, like most things it's not for everyone. (It's one of those things that has to make sense with what you're doing with it).

There are some that choose to NOT see outside of their own box and Truly believe it to be a awful crime lol. 

 There is a ton of benefit when it comes to rent to own,  I'm not saying this for some sleazy sales pitch,  I'm saying this because it's true.

Creative financing

 Example #1- I have used it myself to do many flips. I finance the shell on rent to own with 1 payment down,  us my home depot credit card to pay for materials to finish it out. When I sell the cabin, I take the cash from the sell , pay off the rent to own For the cash price (no prepayment penalty), pay off the home depo credit card and put what ever is left over in my pocket. Using hardly any of my own cash to make it happen.

I have helped guide many customers through the same process to help them build a cabin with very little cash needed . (Credit is required when it comes to financing the materials)

Example#2 This is also a strategy I've used personally.

 get the ball rolling with rent to own, have the cabin delivered to and permanently attached on your land, once the cabin is in place is now considered a permanent structure, go to your bank and tell they you would like to refinance and while your there tell the bank you would like to take out a little extra to cover material cost to finish it out. ●There are a few important things to know when talking to your bank. Whatever you do, do not call it a tiny home, do not call it a shed, portable building, storage building or any other things of that nature. Remember it is now attached to your land it is no longer a portable building. It's now nothing more than a (newly constructed home that is 640 square foot or smaller if you choose another size.)   Getting a loan from the bank is often like unlocking  a lot with a code if you know the code it's easy to open it.  I have finance lots of these if done properly it is easy. 

Rent to own is a tool

 if used properly it brings a lot of benefits

FINANCING A TURN-KEY CABIN

Financing a finished cabin can be tough for some.  Its not like financing a shell.  Financing A finished cabin (you do need to have good credit). My company is constantly working on arranging in-house financing for out finished out cabins, even then there will still be a credit check. At the moment buyers just go through the bank that they normally deal with.  Most of my customers that buy our finished Cabins are typically cash buyers,  But we do have a few individuals that finance them with the bank. 

Important

If your  thing about going to your bank and getting a loan for a cabin there are a few very important things you need to know 1st. 

If you go to your bank and try getting a loan for a finished-out "shed" or "portable building" or "tiny home", your bank is most likely going to tell you ("no thanks we dont finance those"). Why ? Because banks don't want to have to deal with repossessing and reselling a portable building if the consumer defaults on the loan, (Good thing for you, our cabins are NOT finished out "sheds" & they are also NOT portable Tiny homes.  A tiny home is 380 square feet or less .   

Our  Cabins are no longer portable buildings whe the inside is completed.

Here is what they are (Newly constructed cabin, pear & beam home 640 square foot, either with a 1 bedroom or 2 bedroom, they are 100% permanent structures that get attached to your land.  Sure it can be transported but so can pretty much any home that is built on a strong wood foundation.   When they are finished out there are no longer easy to move like a shell.

 It's very important you get the lingo down before talking to your bank this is something I've had lots of experience with . 

 There  are a few way your bank can structure the loan,

●#1 Person loan- meaning no collateral needed. These type of loans are typical high interest.

●#2 Construction loan- your bank will typically wrap your land as collateral in this situation.  I will prepare your bank with a work order and be the assigned contractor, everything they needed just as if we are building it on site.

 #3 Cash out refinance- This one is my favorite one, I have performed this one many times myself.  It's for those that already have a existing home with equity. Maybe your home is paid for or another example-

 let's say you have a home and land with a mortgage, the home is worth 300,000+ but you only owe $150,000 on the mortgage. Thats a 150k of equity that you can use to add a guest house or air bnb cabin or a place for a family member on your land. The awesome thing is the bank see these as value added to the land, sure you may be pulling 50k away from the current equity,  but once its established in place your property will go from 300k to worth over $400,000.  (It's a proven fact that our 640sqft cabins add 100k in value to your land) So if the land and structures on your home are now $400,000 and it only costs 50k to add 100k in value, (that is the definition of a infinite return) because the reality is you didn't actually use none of your own cash you used the banks money. Based on the numbers above now you have $200,000+ in equity, when before you only had $150,000. That's the magic of real estate, that's the very reason why is the most valuable asset in the world.

  Do keep in mind- each scenario is going to be different based on your current situation, this is not Financial advice it's simply financial literacy, gained through my experience investing in real estate.

 financing source for personal loan below copy and paste

https://www.acornfinance.com/apply?d=AL8S0#/personal



Project loan source.

You can copy and paste this link blow. I have used these guys myself a few times for projects. If you qualify they will approve you right then was no hard credit inquiries. They are a very resourceful tool and new toolbox.

 https://www.acornfinance.com/apply?d=AL8S0#/personal