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Updated about 10 years ago on . Most recent reply

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70
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38
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Dan Ward
  • Real Estate Investor
  • Cabot, AR
38
Votes |
70
Posts

Is it possible to build a duplex with zero out of pocket? Would this method work?

Dan Ward
  • Real Estate Investor
  • Cabot, AR
Posted

Ive got a friend of mine that is a bank loan officer and he believes that he could get me a loan to build a rental duplex. Lets say I can build an economical duplex for 70k and it would be appraised at 100k. So, the bank would loan up to 80% of the appraised value which would cover the entire cost to build the duplex correct? Would something like this work or not to avoid having to put 20% cash down?

Most Popular Reply

User Stats

296
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175
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Stephen Hundley
  • Realtor
  • Lafayette, LA
175
Votes |
296
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Stephen Hundley
  • Realtor
  • Lafayette, LA
Replied

seems like you can ask your loan officer friend that question. 

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