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Updated over 1 year ago,

User Stats

5
Posts
1
Votes
Dustin McGee
  • New to Real Estate
  • Williamsburg, VA
1
Votes |
5
Posts

Own land and looking to build on it - Need help finding financing

Dustin McGee
  • New to Real Estate
  • Williamsburg, VA
Posted

Hey everyone! 

I bought land from my parents using owner financing. I owe about $26k on their loan and the lots next to it are selling for $75k-$85k which makes me think ours would be worth the same. I would like to build a house on it but I am having issues finding financing that works. I am going to build the house myself (I have a background/experience) which will save a lot of money. My plan is to build for as little as possible and get it refinanced after it is finished. In hopes to be able to pull some equity out to invest in another deal later in the future. Would really like some feedback on how I can finance paying off the land and the construction cost.  Thank you! 

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