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Updated about 1 year ago on . Most recent reply

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1031 Into Land To Build Residential Multi

Mario Richardson
Posted

Hello Biggerpockets Family


Thoughts on selling a SFH to 1031 into land that qualifies for duplex- quadplex? I've heard Lland can serve as a down payment for new construction. Home has about $100k equity do to previous refi cash out.

Thoughts?

Most Popular Reply

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279
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Joshua Christensen
  • Investor
  • Albuquerque, NM
227
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279
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Joshua Christensen
  • Investor
  • Albuquerque, NM
Replied

Construction lending is different than existing lending.  

Yes, typically, the lenders will account for "hard costs" associated with the deal as part of the initial down payment / equity from the borrower.  Be sure to discuss with a qualified lender in your area that does construction lending like this.  

Every lender has different standards on these as they are more of a portfolio product at the banks.  

  • Joshua Christensen
  • Loading replies...