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Building first rental property. Any advice welcomed

Patrick Padovano
Posted Jul 8 2024, 22:42

I currently own my primary residence and recently decided to buy a piece of raw land where my father’s construction company is, and with his help,  build a single family home on it which will become a long term rental when completed. I originally created an llc to purchase the land, however decided after to buy it in my name and transfer into the llc after the house is built, rented, and refinanced. I may or may not need to take out a small construction loan along the way, depending on how expensive things get. I’m very new to all of this so any advice on things would be greatly appreciated. Thanks everyone! 

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