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Updated almost 2 years ago,

User Stats

9
Posts
2
Votes
Eyal I.
  • Investor
  • Fort Lauderdale, FL
2
Votes |
9
Posts

Construction loan refi

Eyal I.
  • Investor
  • Fort Lauderdale, FL
Posted

Hello

I am about to complete the construction of 2 new duplexes in the DFW area with a $1.5M construction loan. Latest appraisal for the 4 units came back at $750k per unit or $3M total and my estimate for renting it is about $5k per unit.
My original plan was to flip but given the market I am more likely to hold the properties and rent them out .
As much as I'd love cashflow it, it isn't my primary goal. I was wondering if anyone had recent experience with loans for brand new duplexes (DSCR concepts etc) and can recommend a creative lender. I can also pay off some of that loan to reduce the debt, but would really prefer to spend that additional cash on new acquisitions.

Thank you! 



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