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Updated almost 2 years ago,

User Stats

4
Posts
5
Votes
Lacie Carver
  • Rental Property Investor
  • Kennewick, WA
5
Votes |
4
Posts

Unfinished cabin in multiple lot sale

Lacie Carver
  • Rental Property Investor
  • Kennewick, WA
Posted

I'm looking at putting an offer on a listing with four separate tax parcels, three of them being vacant half acre lots and the 4th with an unfinished, dry cabin.

My initial thought is to sell two of the parcels. Then use the money from one of those sales to fix up the cabin, add a well and septic, and use it as a STR.

I'm going to need financing for this. My understanding is that with this being an investment property and due to the unfinished cabin, conventional loans won't be an option.

What are some financing options? And what can I expect from those are far as rates and terms?

Thanks so much for your help and expertise!

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