Rental Property Investor · WA · Member since 2016 · 2 posts · 0 votes
Hey RE Pros! Wanting to explore other options or find out other financial strategies for trying to build a detached home on our lot without having to refinance out of our 2.75 interest rate with a cash out or doing a HELOC. Are there other savvy ways for funding this project? Thanks in advance for any insight and advice!
Investor · Bremerton, WA · Member since 2018 · 24 posts · 17 votes
2y
Hi Marc, is this new construction on a property you already own?
Is the new construction multifamily over 5 units? Or other commercial?
Is it an ADU or DADU, or just a new SFH? Simple addition to a SFH?
Or, are you trying to fund buying a property + construction, and then cash-out-refinance the completed project to pull back out most of your purchase + construction costs to deploy on the next project?
Hard money can help do acquisition + construction. A construction loan can do the same. PM me if you need some WA hard money and construction lender contacts to chat with.