I'm debating between the following,because I'm going to get a construction loan which will be disbursed in phases, should I rent out each unit as and when it is completed? Are there any liabilities I should be aware of?I have received advise in some meetups that if it is > 4 units, it is better to get a commercial loan than residential loan. But can't remember why one is better than the other. Any thoughts?Does anyone have a checklist they can share on number of reports/permits I would need to get at different stages of construction?

Janani NarayananPoster

Posted January 20, 2020 10:05

I'm debating between the following,

because I'm going to get a construction loan which will be disbursed in phases, should I rent out each unit as and when it is completed? Are there any liabilities I should be aware of?
I have received advise in some meetups that if it is > 4 units, it is better to get a commercial loan than residential loan. But can't remember why one is better than the other. Any thoughts?
Does anyone have a checklist they can share on number of reports/permits I would need to get at different stages of construction?

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