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Updated 5 months ago on . Most recent reply
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Carrying costs loans
Hello fellow investors, thanks in advance for your advice and suggestions.
Here is my scenario; I have a lot that I own outright. New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land). I'm looking to build a spec single family, the problem is that I don't have W2 income as I'm transitioning in my career. I have investment properties with some equity that are cash flow positive, allowing me to live off of my rental income. There may be some equity that I can tap into depending on the DSR however, I'm looking to see what other funding options are available to cover construction carrying costs that do not require W2? As for the construction loan itself, I'm not concerned as many available options will cover 100% of the development,
Thank you