Your funds are secured against a SPECIFIC Blue Sky Home and we record a Deed of Trust in the amount of your loan against that specific property with Maricopa County. Once that Deed is recorded, we cannot sell or refinance the property without first repaying you all of your initial investment capital AND all interest due. Anything less than full repayment allows you the opportunity to foreclose on the property.
We pay a secured 7% annualized return on your capital. Interest is paid on the first of each month starting after the first full calendar month funds are deployed. Any initial or final days are pro-rated and paid in full at payoff. For example, if an investment is placed on the 20th of September, the first interest payment will be paid on November 1st for the full month of October. The 10 days of interest for September will be paid at close of escrow.
At purchase we may borrow up to 80% of purchase price. Almost always we are buying at a discount, so there is more than 20% of equity from Day 1 to protect your investment dollars. On average our debt to value ratio is approximately 65%.
Two simple documents make up our contract: The Installment Note, which lays out the terms of repayment and a Deed of Trust that is recorded against the property with Maricopa County and secures your interest.
Never. Even on projects that we have lost money we have ALWAYS repaid both the principal and interest in full. Since 2009 and over the course of 350+ projects, Blue Sky Homes has borrowed in excess of $160 Million and repaid its lenders with a 100% success rate, representing over $7.5 Million in returns!
Our company enjoys consistent deal flow, meaning if your private loan pays off early you nearly always have the option to roll the funds immediately into a new loan on another project and continue the 7% annual return. Interest will only be earned on the days your capital is deployed with us.
Many considerations are the same for both building a home and buying an existing home such as location, affordability and the suitability of the home for your lifestyle. Most builders offer a set of floor plans and models to choose from and many allow the homeowner to tailor finishes. The decision to build a home opens up many possibilities for people who have looked at existing home options and decided those don’t meet their needs or fulfill their vision. When building a home be prepared to commit time, especially in the planning stage, this is where your list of “must haves”, “like to haves”, and “if we could only” begins to take shape. This is also the time to decide on your lot, investigate financing and choose a builder. A key element in home-building success is frequent communication between builder and homeowner. Look for builders who are experts in listening, collaborating and who work to keep you informed. Insist on meeting your key contact and make sure you have confidence in his/her ability to lead you through the process. Check references and talk to previous clients. During construction, keep a list of detailed decisions and be prepared for unexpected challenges including weather. Request a construction schedule and set the expectation for ongoing communication, follow-through and assistance from your builder. Blue Sky Homes guarantees this level of service to all clients.
Blue Sky Homes combines professional expertise with a passion for great home designs, quality construction and a personal dedication to building trusting relationships with our clients. We pride ourselves on building ‘Smart and Green’ while specializing in designing and building stylish, energy-efficient, technologically integrated homes, emphasizing the neighborhood via front-yard patios and outdoor entertainment spaces. Our subdivisions and home sites are selected carefully with a goal of giving our homeowners the opportunity to comfortably walk or bicycle to nearby restaurants, coffee shops, parks or other attractions. We think the more time people spend interacting with their neighbors and surroundings, the better quality of life, and the more they will love where they live.
We build only a handful of homes each year so that every project gets personalized attention. Our dedicated design team works directly with you from start-to-finish and our customer service team will work just as hard to make sure you’re satisfied after you’ve moved in.
As we grow and evolve, creating new models to satisfy our growing customer base is essential. We view designing a new model as an opportunity to work with new technologies offered by vendors and suppliers that will meet the test of a Blue Sky Home. Our model homes are a focal point for new ideas, fresh concepts and a showcase for our favorite features such as open floor plans, striking entryways, elegantly functional kitchens, beautiful stairways and distinctive fireplaces. We love to brainstorm with our clients in a model because it provides the perfect backdrop to visually explore ideas, define needs, talk about features and figure out how the home we build for them will be uniquely theirs.
Finding the right location can be challenging due to heavy competition for lots in good locations, especially in desirable school districts. Blue Sky Homes can help you find a lot in the location perfect for your family and we are happy to work with your Realtor as well. Blue Sky Homes is constantly on the lookout for desirable lots, and oftentimes will invest in a great property or lot just to secure it for a future client.
During the planning process, our design team meets with you several times, in our conveniently located Arcadia office. We happily work around your schedule. During these meetings we strive to discuss all phases of the project and ask and answer questions in clear terms , nothing is overlooked. Our goal is to educate our clients on the building process and available options, providing advice and direction as requested, based on our extensive experience. We share detailed information so you fully understand every design feature and know what to expect every step of the way. To support these discussions, we use written communication and a detailed spreadsheet to document and clarify your project decisions.
Every home-building project is different in duration and costs. Variables include home size, lot size, lot preparation, finishes and features selected. We review your budget to ensure every aspect of your home is accounted for – there are no hidden costs or extras, we are committed to delivering your home on schedule.
Besides regular planning, update calls and project meetings, our design team stays in touch and is available to connect as often as needed. We understand the busy schedules of our clients and go out of our way to facilitate convenient times and ways to communicate. Although rigorous planning usually uncovers all elements of design and technical issues, sometimes a new idea, a change in a product or a new feature is desired after construction has started. Our design and construction team will work together to make your requested changes, which may or may not result in additional costs. Because of the high degree of collaboration, many of our customers' changes are identified early enough to avoid major impacts to the schedule or the budget.
Because of the close working relationship you will have with our design team and Project Manager, issues are handled before they escalate into problems. Regularly scheduled walk-throughs (both planned and spontaneous) and designers with a keen sense of detail and dedication to follow-through on action items and issues detour most problems. When a house is completed, we schedule a detailed walk-through with you, the Project Manager and often the Contractor to identify any necessary finishing touches. The items on this “punch list” are scheduled and completed with your move-in schedule in mind.
Blue Sky Homes offers a one year warranty on all workmanship and materials, two year warranty on systems and 10 year warranty on structural. Our dedicated Customer Care Team will not hesitate to respond to Customer concerns after the home is built. We value our relationship with each client and pride ourselves on being caring, responsive and fair.