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Updated over 7 years ago,

User Stats

18
Posts
8
Votes
Oyin A.
  • Investor
  • Philadelphia, PA
8
Votes |
18
Posts

Guidance in the Philadelphia Area for Newbie REI on construction

Oyin A.
  • Investor
  • Philadelphia, PA
Posted

Hi everyone,

I am new here :). I work in Technology and looking to gradually move off that path into fulltime REI. I want to start by raising money through Land Purchase, development and selling immediately post-construction. I am not sure how to start. I know that certain neighborhoods are experiencing MAJOR growth in Philly...I mean people are making like $70k profit and all on new construction of single family homes

I found some lots and need guidance on how to work this out...I want to do 3 or so Single Family Constructions within the next 12 months...to raise funds...After which I plan to get a FourPlex (owner occupied). 

How do I find right Land - lender? - permits - i have found a contractor though. One lender said they only give construction loans to ppl with building experience. I have start somewere, right?

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