All Forum Posts by: Otis Sanders

@Luka Milicevic thanks. Its not completely vacant. It has a detached garage on it with electrical (lol). I’m not sure if that would help. 
I don’t need a high ltv on it at the moment. I would probably be fine with 50% which is what I have seen in the past. 

Quote from @Luka Milicevic:

@Rizwan H.

Yes, and it's done all the time. 

You can also HPR the property and sell the second parcel. 

It's only possible if the building envelope allows for it. Meaning you have to have enough space on the lot to not have to tear down the existing structure. 

If it's a unit in the back and doesn't have a rear alley, it might get tricky with fire code due to limited access from the front of the street. It really just depends on the lot, but yes is the answer. 

 @Luka Milicevic Is it possible to HPR the property and leverage the second parcel to borrow for another project (completely different area) instead of selling? If so do you know of any local lenders that will entertain something like this?

@Daniel Jackson

Did he actually end up selling the home for $800k? Are you a realtor actively working in this area? Would love to connect if so. Thanks

I can tell you who NOT to use

@Jeremy H.

🤣😂

Quote from @Ivan Itzkowitz:

I am currently in contract to buy four lots 44000 plus want to build container house 900 sq ft on each but want to build one at a time. 175k for the house 30k for clearing and permits I have a GC working with me I was able to negotiate ten lots and I have 3 other investors that bought the other six that want to do the same as me. One is a retired disabled vet. Did the comps in the area with property manager for.STR he estimated 100k or more in revenue. Good credit

Hello Ivan I’m a South Fl investor as well. Would love to connect and learn a little more about your strategy with the container homes. I may even have something else you can consider in regards to the construction which would cost you less and give you more square footage. 

@Tanner Stallings

Did you find a lender willing to do this? I’m looking to do the same on a 5 unit.

Quote from @Jay Hurst:

@Deborah Lynch @Otis Sanders   I have a potential option for you. Reach out if still needed and interested. 

@Jay Hurst  Yes am still interested and in need. 

@Deborah Lynch

Did you find anyone to do the heloc? Im looking for the same thing in AL.

@Christina Colon

I would also open an Llc and work on getting business credit. When you max those cards out they have no effect on your personal dti. I know a few guys that build ground up using /liquidating high limit business cards.