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Updated over 3 years ago on .

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6
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3
Votes
Jason Osburn
3
Votes |
6
Posts

Need help with new construction

Jason Osburn
Posted

I would rather build new instead of purchasing something existing. Nearly all the advice is geared towards the latter. How do I use the real estate machinery to purchase land and build a structure? I have access to a VA loan once it becomes habitable. It's my intention to design a single family style structure that I can then rent excess bedrooms to the aviation contractors that I work with. They make great money, work a lot of overtime and usually have families and homes elsewhere so there won't be any furniture dragging. After a year I'll move out and try to replace my W-2 with rental income. I have a 3 bed 2 bath 1300sqft home built in 1906 that needs a roof and kitchen update but otherwise it is 100% paid off. Additionally, I have 32K in the bank I could use to help secure a loan, do repairs or invest until I get my ducks in a row. I'm grateful for your time and any advice you could give. Thank you.