Self Build w/ GC license

[Lamar Bierman]

Hey, hope everyone is a having a great week. I own a remodeling company and have my GC license. I’m looking to do a self build duplex or triplex and live in one unit with my fiancé. 

Conventional lenders all want me to have 20% of the entire project (land/construction) down in order to get a construction to perm loan. 

All of the FHA lenders I speak with only allow 3rd party builders that have no relationship to the owner.

Is there a better way to finance this project? My father her works side by side with me has built over 70 homes. He doesn’t look for anything outside of the box. He’s even hinting towards me withdrawing from my 401k to finance. 

Does anybody have any information or experience on this? 

Thank you,

Lamar B.

[Lamar Bierman]

I'm not a hands on General Contractor. I am very much just the business man. This is not the route I am looking for, but I really appreciate the answer.