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Updated about 3 years ago on .

User Stats

4
Posts
1
Votes
Luis Macias
1
Votes |
4
Posts

Own a RA land, looking for 4plex construction loan

Luis Macias
Posted

Hello, I am new to this group. Ive listened to many episodes on BP podcasts. My first flip was done with a house that was given to my dad but it was a big fixer upper (which he did not have the money or energy to do) and also need a lot line adjustment to correct the property line as this house sat on a Parcel with 2 lots. Used 100% of my own money to fix it and sell it as FSBO. Learned alot! We have a second property where we currently live in that has an empty lot where we can build a 4plex. I am looking the best way to fund this construction, with a loan. Possibly a Owner Occupied construction loan (if that's possible) then converting to a Mortgage loan. Any suggestions would be greatly appreciated! I have been seeing loan guys ads, not sure if anyone has dealt with them. My local credit union doesn't do construction loans.
BTW
I am a W2 employee, I have a side business where I manufacture Plantation Shutters, and I am located in Southern California.

Hope all this helps!