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Updated almost 2 years ago,
Construction loan refi
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!