Traditional construction lenders have trouble underwriting modular deals—and most borrowers don't understand why until it's too late.
In this episode:
- Why draw schedules don't match modular cash flow
- The collateral problem: modules in a factory aren't real property
- Appraisal challenges when comps don't exist
- Insurance gaps during transport and installation
- Why modular borrowers often need bridge capital or alternative structures
- What sophisticated borrowers do differently
Built Different is brought to you by Spring Street Management Group.
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