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Updated almost 5 years ago,

User Stats

14
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2
Votes
Joel Fernandes
2
Votes |
14
Posts

How to build and sell a home on land I own, using a loan?

Joel Fernandes
Posted

Hello,

I want to get financing for building a model house on some land I own, and then selling it. I am not planning to live in the home, and once construction completes I want to sell it. Can I just get a temporary construction loan, and while paying only interest I take my time to sell it and once sold, I pay off the construction loan? Any words of advice on what's the best coarse of action? Thanks!