Cheryl: Hi everybody. Cheryl Knowlton with Dynamite Productions back at you for episode two with Clay Johnson from Castle and Cooke Mortgage. We’re talking about one-time close construction loans this week. And so let’s talk about the very beginning and the process. Where does it start? With the lot.
Clay: Yes, and that’s part of it is that lot acquisition, which is really exciting. And that’s so important because that’s the neighborhood. That’s where we’re going to call home. It’s the school system. It’s where we want to be. It’s our views. It’s our location to everything that we’re involved in.
Cheryl: Everything. And it’s the most expensive piece of new construction. And a lot of people don’t think about that as being the most expensive piece.
Clay: Yeah. Especially in this market.
Cheryl: And it can be rolled in?
Clay: It can be rolled in.
Cheryl: What?
Clay: So you’re kind of doing your lot acquisition, your construction costs, and your permanent financing really all in one package deal.
Cheryl: That’s crazy. Talk about a one-stop-shop.
Clay: It is. I love it. And because again, theoretically, you can break that down, and it gets really expensive, into the lot, the construction, and the permanent. So when you say one time, it literally is pulling all of that into one thing, and it’s awesome. So we’ll talk a little bit more you guys about where to go after the lot, but that’s the first and most exciting step, knowing exactly where you’re going to be.
Cheryl: Absolutely. So make sure that you know exactly where you want to be. Find that neighborhood, and utilize these amazing tools to acquire that ground.
Clay: Yes, absolutely.
Cheryl: Okay. And we’ll see you next time.
Clay: Bye-bye.