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Updated about 7 years ago on . Most recent reply

User Stats

39
Posts
8
Votes
Cody Malone
  • Lubbock, TX
8
Votes |
39
Posts

multi family lot purchase, owner finance

Cody Malone
  • Lubbock, TX
Posted

I have found two lots for sale, the owner is open to an offer for seller finance.  Im not sure how to structure this offer, ideally i will be building a multi family (duplex) built from shipping containers.  The lot is already zoned appropriately, and i am waiting on final designs for the project before i shop for the money for construction costs.  There will be no return on this property until post construction, at which point  I can refnance out the cash or sale the units.   Any advice would be welcomed and much appreciated!

Most Popular Reply

User Stats

63
Posts
36
Votes
Joan Brown
  • Flipper/Rehabber
  • Lubbock, Texas (TX)
36
Votes |
63
Posts
Joan Brown
  • Flipper/Rehabber
  • Lubbock, Texas (TX)
Replied

@Cody Malone, We looked into putting a shipping container on one of our properties in the city of Lubbock and found out they are illegal inside city limits. Not that everyone follows that, but if your plan hinges on using shipping containers, be sure it would be approved by zoning!

Joan

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