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Updated about 2 years ago on . Most recent reply
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How can I find my neighbors lender without asking my neighbor?!?!
I have a neighbor that is developing a duplex next to my lot.
He wants to go 50/50 with me on my lot and build an exact same product. This will help his property appraise for more and have comparables nearby.
He isnt interested in building it for me, and charging me a fee. He doesn't want to share any resources either.
I own my lot free and clear and would like to leverage my land as the down payment to start the development. I feel like I can build a similar product and give away less equity in doing so.
I want to build and hold. Anyway to find out who their lender is.
Or any recommendations on a lender who can help me?
Most Popular Reply
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If he wants to partner with you, why wouldn't he share some of the information? He wants to go 50/50, but only on the build-you supply the lot? I wouldn't do it. If you want to build a duplex on your own (ie hire someone), then I would go that route.
Otherwise, 50/50 isn't appropriate given you'd have more money invested in it than he would.