Multi Family Construction Project

[Timothy Allen Kidd]

Greetings!! Me and my Brother are just getting started in our Real Estate investment business and are looking to jump right in with a Multi Family deal. I found some Residential General property that has been Zoned by the local town for 5 two story town homes. We are putting the deal together with my Father who is a local contractor and will be organizing the build and private investors for financing the build. The part that we are struggling with is determining the best way to pay off the debt and get the units under traditional financing after they have their occupancy permit and are rented. We plan to have land and units under and LLC until they are finished and then essentially sell the units to each other as we complete them so that we can finance them and pay the private lenders back. We also have the option to go back to the Town council and try to get the land approved for 5 Duplexes to up the doors to 10 instead of 5. Thoughts and suggestions!