Hi, I want to build a 3 bedroom house to rent out, but my income is a bit low (60k) to qualify for a loan (need 80k). The property will cash flow the day it's completed and will have 20% equity since i'm building it myself (saving builder and realtor fees).
How can I present this deal to investors and where would I find lenders willing to do a creative deal?
I would recommend presenting your numbers on the property and other information in a way that is very clear to understand and keep it short! Have confidence when you present it and ask many people.
I would recommend presenting your numbers on the property and other information in a way that is very clear to understand and keep it short! Have confidence when you present it and ask many people.
Yes I own the deed outright and have about 34k in Soils, site plan, driveway, and septic & structural engineering and architecture. Building permit is approved.
I have built this exact house kit last year and have built 2 other houses for local contractors this year. You can look at my photo gallery on my company website: alpinecustomhomesco.com/gallery
I’ve been doing carpentry for 20 years and also have some experience with excavation, concrete, electrical and plumbing. I’m also a licensed septic installer.
The house will be dry and closed within 3 months and the CO should be issued within one year. Possibly shorter if I bring in a big crew, but I’d rather have a longer term on the loan just in case.
If you have any direction for me to make this a reality that would be fantastic.
Yes I own the deed outright and have about 34k in Soils, site plan, driveway, and septic & structural engineering and architecture. Building permit is approved.
I have built this exact house kit last year and have built 2 other houses for local contractors this year. You can look at my photo gallery on my company website: alpinecustomhomesco.com/gallery
I’ve been doing carpentry for 20 years and also have some experience with excavation, concrete, electrical and plumbing. I’m also a licensed septic installer.
The house will be dry and closed within 3 months and the CO should be issued within one year. Possibly shorter if I bring in a big crew, but I’d rather have a longer term on the loan just in case.
If you have any direction for me to make this a reality that would be fantastic.
Depending a few factors I think you could get this done. Ill PM you.