Metal building Home (White Salmon: for sale, apartment, credit)

[windygorge]

Hey everyone,

I am wanting to build a metal building home. Has anyone ever tried to get financing for one they have built or moved into? I have heard its difficult, and have made a phone call to one bank about doing a construction loan and they only loan on stick built homes. Maybe i should word it differently. steel framed home, instead of metal building home. I would be happy to hear what others have done.

[StealthRabbit]

"metal" building as home?
or a Steel Framed construction "conventional" house? (BIG difference)

Banks are my LAST resort for 'creative' RE financing.

1) Cash (building shop to live in is VERY CHEAP (BTDT many times))
2) HELOC from existing home (not usually on the site of Shop)
3) Margin acct / stock secured loan
4) Family members who want a nice 5-8% return and a 'First position' on my property
5) Asset secured loan
6) Personal loan
7) Picking up aluminum cans and selling in Oregon.
8) Freeway begging
...
98) Credit Union
...
999) banks

A friend needed to finance his 120 x 240 shop with apartment, and the lender required him to install WOOD Lap Siding. (So much for the benefit of a steel building...)

BTW: building a shop BEFORE you build your home has a lot of advantages, mainly a place to store recycled / freecycled / Habitat building materials.

I collect my materials THEN build the house to match, especially cabinets, plumbing, windows and doors!!! I buy from businesses who have 'mis-ordered' / i.e. new stock, but not as per their needs. . December is a good time to get DEALS. Be sure windows have manf stickers with U value on windows to make the inspectors happy.


WA building 101
Construction loans are very evil (expensive), often you pay TWICE for fees.

Getting "Draws" (from bank) is like pulling teeth.

Be legal (realize county may be using drones, photos (and your neighbors) to check on you._

If you hire ANY contractors, get a lien release BEFORE handing over the check, AND make ALL checks payable to BOTH the material supplier and the contractor.

[perigee]

Stealth gives some sage advice, especially on the lien release. As far as a metal house, don't really know what that is, but you should look into ICF homes, especially if your handle is any indication of where you live.

There is an auto play video embedded down page, which is annoying, but it is at least informative.

5 things you didn't know about insulated concrete form construction | Proud Green Home

[justducky2]

StealthRabbit, do you build in Washington?

[StealthRabbit]

Originally Posted by justducky2

..., do you build in Washington?

I try to avoid WA, tho most of my homes / projects have previously been in WA. I still have a few properties to develop in WA, and of course I shop for bargains everyday for last 30 yrs. I will probably only do 4-5 more projects in WA. Likely only 1-2 from scratch / bare property. (there are MUCH cheaper and quicker options than building from scratch)

Most of my WA builder friends escaped to MT after our ex-non-elected Governor ran DoEc to a massive organization that greatly escalates rural building costs and contention. (sounds a lot like Gov 'directed' Healthcare rates)

I am having much more fun and success in TX at the moment (not raining (much) in TX, NO building permits / fee required in my county, only septic )

WA has certain 'barriers', but basically increases the costs and time wasted. That is GREAT for WA Gov getting more revenue in the form of permits, fees, and then LIFELONG property taxes

Since I do most my building in a Federally protected area I have to jump through a lot of hoops. That process took a few USP stamps in the past, less than $5 total. BUT... the FEDS gave the role to our local county, and the last approval process cost 3 yrs and $26,000 for the same thing the Feds could do over the mail. THEN..(IF you get approval...<50% chance). the permits and fees are on top of that! It can be EZ to tie up $50k+ in 'costs' getting started on bare property (not including the property, well, septic, roads, power...). That is very county specific, so YMMV.

[justducky2]

Originally Posted by StealthRabbit

I try to avoid WA, tho most of my homes / projects have previously been in WA. I still have a few properties to develop in WA, and of course I shop for bargains everyday for last 30 yrs. I will probably only do 4-5 more projects in WA. Likely only 1-2 from scratch / bare property. (there are MUCH cheaper and quicker options than building from scratch)

Most of my WA builder friends escaped to MT after our ex-non-elected Governor ran DoEc to a massive organization that greatly escalates rural building costs and contention. (sounds a lot like Gov 'directed' Healthcare rates)

I am having much more fun and success in TX at the moment (not raining (much) in TX, NO building permits / fee required in my county, only septic )

WA has certain 'barriers', but basically increases the costs and time wasted. That is GREAT for WA Gov getting more revenue in the form of permits, fees, and then LIFELONG property taxes

Since I do most my building in a Federally protected area I have to jump through a lot of hoops. That process took a few USP stamps in the past, less than $5 total. BUT... the FEDS gave the role to our local county, and the last approval process cost 3 yrs and $26,000 for the same thing the Feds could do over the mail. THEN..(IF you get approval...<50% chance). the permits and fees are on top of that! It can be EZ to tie up $50k+ in 'costs' getting started on bare property (not including the property, well, septic, roads, power...). That is very county specific, so YMMV.

Federally protected area...are you talking Washington, the Gorge National Scenic Area?

Cheaper/quicker...like buying an old home/mobile home where footprint and infrastructure is in, tearing down, rebuilding?

I ask because I'm not seeing too many houses for sale near White Salmon...and the prices are pretty much the same as in California, but it's pretty far from job opportunities.

[StealthRabbit]

Originally Posted by justducky2

Cheaper/quicker... Not seeing .

Problem #1.... you will seldom find a 'bargain' or even a decent price on a property that is already posted 'FOR SALE'.

Way too late. The SHARKS have already arrived. You need to be MUCH more Quick and Stealth than your average shark.

Gotta DIG up your own deals. They are much better than someone TELLING you what you want or can afford.

If anyone tells you your personal residence is an INVESTMENT. Run! Fast!

Best to stay in CA and enjoy your prop 13 and high paying jobs, there are many excellent locations in CA. Never move somewhere where there are no JOBs in your field. WA is not going anywhere. Reap the benefits of CA, and if you Must leave later, find a place that fits your desires and budget. There are MANY!.