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Updated almost 8 years ago,
New construction loan?
My plan is to build a fourplex(townhomes). I have received quotes for just the shell/frame and a complete move-in ready build. The difference is close to 150k. I am comparing the complete build to the cost of the shell, plus my supplies cost.
I figure it is worth my time, even paying the mortgage out of pocket while I complete the several months of work myself. Electrical, plumbing, insulation, drywall, flooring, kitchens, and baths will be completed by myself.
Is it possible to acquire a loan like this without being a contractor? ..or is this just a horrible idea?