building a barn first curve ball

   / building a barn first curve ball
  • Thread Starter
#81  
We pull the plug for this year, we are pushing it till year, this process is a curve ball after curve ball. It blows my mind that you have to ask permission to every organization in this country all the way to the pope to built on your own proprety. The bank is not giving us the money we hope for up front, the interest rate is scary, we are still in discussion with them but they would give us chunks as the project advance but our pocket is not deep enough for it right now. Every step is taking too much time, we are cutting it close as it is and our engineer plans is still not ready, I was starting to stress about it so its the right thing to do. We will still move the horses over to save money so I still have lots of work ahead of me like building a 900 yard fence, a shelter, a water system for them and some hay.
 
   / building a barn first curve ball #82  
Most construction loans aren't a lump sum up front. It has designated draws, to protect the lender. And usually inspections at each stage, in my experience. However, typically they give you the money for each step, up front. When we built our barn, we paid cash, but it was the same. There were four draws, over the course of the project.
 
   / building a barn first curve ball
  • Thread Starter
#83  
CloverKnollFarms said:
Most construction loans aren't a lump sum up front. It has designated draws, to protect the lender. And usually inspections at each stage, in my experience. However, typically they give you the money for each step, up front. When we built our barn, we paid cash, but it was the same. There were four draws, over the course of the project.
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I am awar but we had enough equity to get a line of credit hight enough but one property has a private loan on it so we can’t used it. I initially told them the situation but i guess they didn’t understood when they went to register it then they did.
 
   / building a barn first curve ball #84  
Keep pushing the decision out on building the horse barn a year at a time, until the want of having horses dis-appears. You can thank me latter. LOL
 
   / building a barn first curve ball #86  
BleedingOrange said:
Keep pushing the decision out on building the horse barn a year at a time, until the want of having horses dis-appears. You can thank me latter. LOL
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Isn't there some joke about if you want to be a millionaire horse owner, start off as a billionaire
Money pits
 
   / building a barn first curve ball #88  
Rockbadchild said:
We pull the plug for this year, we are pushing it till year, this process is a curve ball after curve ball. It blows my mind that you have to ask permission to every organization in this country all the way to the pope to built on your own proprety. The bank is not giving us the money we hope for up front, the interest rate is scary, we are still in discussion with them but they would give us chunks as the project advance but our pocket is not deep enough for it right now. Every step is taking too much time, we are cutting it close as it is and our engineer plans is still not ready, I was starting to stress about it so its the right thing to do. We will still move the horses over to save money so I still have lots of work ahead of me like building a 900 yard fence, a shelter, a water system for them and some hay.
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I just saw this thread, and wish I had seen it earlier as we have been down the flood plain path too. In fact, we are still are impacted by it. Flood plain regs are becoming more and more strict. The little bit I know after 11 years of this could have saved you and me both some grief.

I believe the next curve ball you see is that the flood plain calculations are not just a matter of how a flood could impact your property. That's how the older interpretations of flood calculations used to work. Notice I say "could"; that's because it's all statistical.
The more modern curve ball is activated anytime a portion of your property is in one of the flood zones. Then you may find that it's not just about what you do your property - but also how whatever you do on your property affects the shape of the flooding upstream and downstream of your property. That turns out to be far more important than just what you build or don't.

Flood plain regulations have been with us a long time in the US and Canada both. But they were so complicated and difficult to calculate that they used to only apply to one piece of property at a time. Around here, building used to just require a statement from either the land surveyor or the builder. The wider and longer view upstream and downstream didn't get much attention until the twin forces of computers and climate change came along.

One thing I found that is that there is always someone in the local buillding dept. in charge of interpreting flood plain regs. Someone who is a "Flood Plain Administrator". He signs the flood plain part of any permit. You need to do some research to find out who that is and get them on your side.

I also found that my calculations and options meant nothing to the flood plain administrator. In fact, he isn't all that knowledgeable about floods. His job is to look at the existing lines on the map and then decide whether he wants to require you to employ engineers and surveyors with certifications. If so, let him pick the engineering firm, and let that firm pick the surveyor they want to use.

rScotty
 
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