Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
BiggerPockets Exclusive PRO Area
PRO
General Real Estate Investing
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Mobile Home Park Investing
Innovative Strategies
Land & New Construction
Multi-Family and Apartment Investing
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions presented by
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Personal Finance
Creative Real Estate Financing presented by
Private Lending & Conventional Mortgage Advice
Insurance
Tax, SDIRAs & Cost Segregation presented by
Foreclosures
1031 Exchanges presented by
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing
Please log in or sign up for a free account to continue.

Updated about 11 years ago on . Most recent reply

Alex Jerome's profile image
Alex Jerome's profile image
Alex Jerome
  • Real Estate Investor
  • from Birmingham, Michigan
  • Member since Oct 5, 2012

User Stats

4
Posts
0
Votes
Alex Jerome's profile image
Alex Jerome's profile image
Alex Jerome
  • Real Estate Investor
  • from Birmingham, Michigan
  • Member since Oct 5, 2012
Alex Jerome
  • Real Estate Investor
  • Birmingham, MI
0
Votes |
4
Posts
Land & New Construction

Construction Financing

Alex Jerome
  • Real Estate Investor
  • Birmingham, MI
Posted

Hi All:

I own a property that is currently a rental. I am interested in tearing it down to build and sell. Currently, I owe approximately $170,000 on the loan. I estimate construction costs to be around $250,000. I was curious what insight you might have on the best way to finance the construction. I can use cash to pay off the loan, and will have access to about $80,000 extra. Therefore, I will need approximately $170,000 more. Thanks in advance. 

0 Votes
Follow
7 Replies
Jump to Last Reply
Log In or Sign Up to Reply
Sort By:

Loading replies...