GROUND UP CONSTRUCTION PROGRAM
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OVERVIEW OF THE PROGRAM
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This program is designed for the experienced rehabber to expand its market to ground up construction. By utilizing the experience of the companies, you the rehabber will get the experience of ground up for lenders.
HOW THE PROGRAM WORKS
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ROI-OFF MARKET PROPERTIES
Has relationships with many people in the communities surrounding the Pittsburgh marketplace. They will find lots at off market prices, saving you
monies.
INVESTMENT PROPERTY SOLUTIONS
will work with the client to provide the ground up construction lending. IPS will receive the Purchase Contract, blueprints, Schedule of Work, Draw schedule. At this point IPS can work with the client to understand their ability to finance the project. IPS positions our borrower with lending options. Since we have an abundance of Lenders to work with, we choose the right Loan Product that will best fit the project.
- * Ground Up Line of Credit
- * Single Ground Up Loan
Inside each lender there are specific guidelines that must be followed to satisfy their underwriter.
BREAKDOWN OF THE PROCESS
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DESIGN-BID-BUILD
The Design-Bid-Build construction process allows the clients to get constructive feedback about the project. The Design-Bid-Build model consists of six steps.
STEP 1: DESIGN
During this phase, the client works with Artisan Development and has a general idea of the project goals and timeline and costs.
STEP 2: PRE-CONSTRUCTION
In the Design-Bid-Build model, we complete the following steps in the pre-construction phase:
• Get budget approval.
• Contact city officials, local representatives, and private sector personnel to notify them.
• Make any additional plans or adjustments to the construction site.
• Coordinate schedules with the surrounding community and private firms to
minimize any disruption.
• Conduct an equipment inventory to assess any need.
• At the end of this process, the client makes any final decisions and last-minute check steps. Once these steps are complete, the client releases a Notice-To-Proceed for contractors to start the next phase.
STEP 3: PROCUREMENT
In the Procurement phase, we coordinate with all contractors to create a baseline schedule to complete the project phases on time. Some contractors’ roles directly depend on other contractors, so we diligently plan the entire project scope and steps. We use this phase to delegate any team roles for the project, including managers, team leads, and more.
Also, in the Procurement phase, we note any materials with extensive lead times that could delay the project. For example, windows, steel beams, and plumbing items can take longer to arrive, so we keep an eye out for these.
STEP 4: CONSTRUCTION
The construction process is when the design becomes a reality. Contractors and subcontractors work together to complete the design based on the specs in the construction documents.
To keep the project on track, we’ll schedule either weekly, bi-weekly, or monthly review meetings with project stakeholders from both organizations. In these meetings, we review the work completed thus far and look ahead at upcoming project goals.
STEP 5: OWNER OCCUPANCY
During this phase, we shift all building management to the client to prepare them to move-in to the new home. We also take this time to answer any last-minute questions. Afterward, the project is complete!
STEP 6: PROJECT CLOSEOUT
Our project closeout phase is a primarily internal review of our overall project efficiency. We host project meetings with our team leads, managers, and contractors to identify areas to improve. We also highlight project strengths that we plan to implement in the future.
THE GOAL OF THE GROUND-UP CONSTRUCTION PROGRAM
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The objective is to be able to take a successful rehabber and educate and get you the ground-up experience necessary for your future projects.