All Forum Posts by: Eric Johnson

It's possible to use 1031 funds to put down and finance the rest. But as Wayne said, there's no real details here. What's the question exactly? How you will finance? What type of asset are buildng? 1-4 unit or 5+? 

Well, it's simply a developer build for a residential NOO 1-4 unit building... I've done these for my borrowers with experience. It would be funded as a short term bridge loan, interest only. It's comparable to a fix and flip product. Probably around 8-10% with 2 points origination, 12 month term.

I'm assuming you're talking about selling these & not living in your build. If living, then it would be an OO construction to perm loan. Those are available as well (for anyone reading looking to build and live in a 1-4 unit property).

Hope this helps.

Your agent should have access. Do you know the area cap rates for assets of like-kind? If you know that, then just use the NOI calc..

Tony, I'd be able to offer some insight to your questions. Shoot me a DM/email.

If you have a rehab of about 35k, you can use FHA 203(k) streamline & that can save you some time on the buy-side. Good luck

This is within market. Depending on your credit profile as well.. But I'd take the lower closing cost and invest it into something that makes more than 3.67%. 

Hi Jack, feel free to DM me. I can provide some good insights. 

FHA is everywhere. Make some more calls.

This is a question for the municipality.

If you're occupying the property and qualifying with your personal income, then a conventional lender can help you. Look into FHA loans, they can be as low as 3.50% down.