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Updated 9 months ago on . Most recent reply

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4
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1
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Quentin RCollins
  • Realtor
  • Huntsville, AL
1
Votes |
4
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Looking for some advice on new build creative financing.

Quentin RCollins
  • Realtor
  • Huntsville, AL
Posted

I’ve purchased some land and want to do a new build on the land. I’ve received some very favorable estimates in cost and timeline for the plans I had created. 

I’m a realtor and have completed a CRM on final build so based on a Comparative Market Analysis I would have instant equity upon completion of the build and could sell or refinance. 

I’m planning on selling the property and rolling the equity into another project. I’d be willing to bring in a private investor and negotiate lending terms

The ask: Based on the above scenario, has anyone done this before and what was the best method you found to fund the build?

Most Popular Reply

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439
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211
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Ty Coutts
  • Lender
  • Colorado
211
Votes |
439
Posts
Ty Coutts
  • Lender
  • Colorado
Replied

Based on the scenario, I would start by researching construction loan options. They're specifically designed for new builds. Also home equity loans could be a useful resource. The best method often depends on your specific circumstances, credit profile, and local market conditions. Given your experience as a realtor and your willingness to bring in private investors, a combination of private money lending and perhaps a construction loan could be a strong approach.

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Ty Coutts - Aslan Home Lending
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