All Forum Posts by: Sylvia Lamas

Hi Nicholas - Can my self directed IRA buy a newly constructed home from an LLC that I personally have 15% ownership in?

Yes, this answered my question.   Thanks for your input Justin.

My first investment - purchase of 33,000 Lot in California.  My parcel map is complete and approved for 6 parcels with 3 single level duplexes. (Half plex)  Each home will have it’s own parcel number/own owner. The site plan is currently under review and so far no design issues.

I own the entire lot right now and will be selling each of the 6 lots to the new home buyers so they can obtain their own construction loan.  However in the interim to save money on some fees I will continue to own land for a little longer than planned.

1st question - will lenders provide construction loans to someone who does not out right own the parcel?    I am hoping it is possible to allow construction to occur.  Maybe subordinate the purchase of lot to construction lender?

2nd question - My contractor will be buying two of the lots, building the homes then owning as an investment.  I am keeping 2 parcels and building on 2 as an investment.  Anyone think it will be advantageous  to fund the entire project then sell finished homes?  The two other 2 lots  will be sold to other parties.

I am a first time developer who is teaming up with my former employer who is a GC/Developer.  We are building a total of 8 units.  He wants duplexes to save money - slab, roof, etc.  We have the land so space is not an issue, but how much more should a single home cost to build over the duplex?  

Anyone have a resource of where to start to learn about the pros/cons of building a small PUD. I have the land and it is zoned for multi-family. I was planning on building two duplexes but someone told me to check into a PUD.