All Forum Posts by: Samuel Coronado

2. The second way is using my usual network of local contractors. I give them enough business so they knock up to 30% off what they would do for a retail spec home buyer. We focus on affordable housing, so that's the reason we are trying to keep it below 200k. We could push higher, but young people are struggling to buy homes as it is. We're here to kind of make that happen on the smallest of scales. Some properties I don't try to make a lot off of because I've been very fortunate and it's a roundabout way of giving back. I just get back everything I put into it plus some overhead and a small contingency fund for the future. It's a beautiful thing. I enjoy doing it. :) 

 I'm sorry. I went back to the post and realized I left out the actual question. I am looking for someone who would do a short term land loan. The plan is to develop the parcel and then sell it as a land and home package to a retail buyer. There was a similar thing done two parcels over that sold for $230k recently. Our target price range is 190-200k with a sales date in March. This is a spec development. 

This site has 7 TOHs and 2 POHs. Looking to get some people lined up so I can send in an offer asap and possibly close before January. 

 They get an extra $10k if they owner finance and thankfully they're not in the most emergent circumstances so they can wait a few months to be paid out. That's the tradeoff. 

I have 5 acres pending contract. The seller and I are working the terms. It's either 10k down and 50k balance that she owner finances to myself until I can build a house and sell it or she will do 50k if I can get the whole balance under a regular land loan. It seems worth it to me to save that 10k and not give up ground so easily. The issue is finding a lender who would want to do it at such a small balance. 

I am looking for a $2 million life insurance policy, preferably term but willing to entertain others like IUL. 30 year old male. Reasonably good health. 

I recommend Quest IRA or Self-Directed IRA. Look up Nate Hare and give his team a call. One of the best-rated SDIRA custodians out there.

 I am looking to do this with two separate 5 acre lots. I would love to talk. 

 What is the minimum buy-in? 

I was in a similar situation. We sold everything and through the money in a mobile home park that is doing well. We only plan to do commercial and small time developments here on out.