Northern Illinois · Member since 2019 · 5 posts · 0 votes
Hey BP Heroes!
I found this nice little tear down that runs about $15k US asking and would love to turn it into an affordable section 8 house. How do I get started? For example, who can perform loans on section 8? How about the construction? Is tenant finding a government "thing" or is that my job as a landlord?
Also if hard money is needed would you recommend if the ARV is solid and the numbers work out?
Investor · Hot Springs Village, AR · Member since 2018 · 112 posts · 56 votes
7y
I am not sure what you mean by FHA construction...getting an FHA loan? building a home that will meet section 8 standards? I am a private lender and have loaned for purchase and construction but only short term. I insist on 10% of the purchase price and closing costs as far as skin in the game.