Financing is more difficult than Quantum Physics!!!

[Kyle Kurt Gabriel Smith]

Dear BiggerPockets community,

I have a PhD in Theoretical Chemistry/Quantum Dynamics... https://pubs.aip.org/aip/jcp/article/142/24/244112/74387 ... and I literally designed and built my own house off of 30A in Florida ... https://www.scenicsir.com/homes/242-Blue-Gulf-Drive/Santa-Ro... .... I have been trying to sell it to build more, but that has been difficult due to the high interest rates freezing the market... I did finally get 2 showings the other day, and there is news of rate drops coming, so maybe it will sell soon. However, I have been trying to figure out possible creative financing options to build more without having to sell, but I cannot seem to find a lender willing to do 100% down on land and construction even though the LTV would be below 50% since I can basically build for costs of material plus minimal labor by doing almost all of it myself , with a little help here and there. I am in the process of getting my contractors license, and i could have it in a matter of months. This would probably help since the next one I build I could immediately put for sale and do a short term rental while it sells.

I have many years of construction experience and have also done a fix and flip, in addition to ground up construction, as well as 10 years of entrepreneurial experience running a paddle board rental company, and advancing science through developing theoretical methods for efficient large scale simulations...

I guess my problem is I can't seem to figure out how to find the money to do more projects, which is why I've been trying to sell my house. Maybe it will sell soon though... I have the mental and physical ability to build more, just not the finances...

 Hopefully one day my dreams will come true and i will figure the financing out, which is way more difficult than Quantum Physics in my opinion!!! At least it has been for me... 

I don't know if I need a partner, investor, or just more patience...

Any advice or help you may have is always appreciated!

Thanks!

[Brandon Croucier]

Hi Kyle,

This is the most common question I get asked.

Don't waste your time because nobody in their right mind is going to fund 100% of your project.

In order to get into new deals, build, buy, flip etc. you need to have some skin in the game.

A bridge loan to get the cash out of the property on the market is possible, that can then help get you the cash needed and start this new build.