Books for Spec Developers?

[Leilah Davis]

Hi! I'm new to REI and my husband and I are working on our first deal together as a team. Before we delve into buying our first property together (he already owns a few rental units, but we have yet to do a deal together) I'm getting my RE lisense and he's getting his residential contractor's lisence. In the meantime, we're looking to just learn all we can about REI from books, podcasts, audiobooks, and the BP forums. We're definitely going to build a house to sell, rather than flip or invest using the BRRR method, but it seems like most of the information I've come across does not deal specifically with new construction homes as an investment strategy. Does anyone have some good resources you could recomment that deal specifically with this type of investing? Thank you!

[Greg Dickerson]

Many local banks will finance spec houses for qualified borrowers but they will require you to have a GC. The banks I work with will do a 12 month interest only for construction and convert to amortized portfolio loan if it hasn’t sold in that timeframe. They also offer this for flips as well.

You need to shop several banks as they all offer different rates and terms.