Tiny homes for sale and build and hold

[Dwayne Jones]

I’m a builder in Memphis, Tennessee with two 480 sq. ft. one bedroom one bath single family homes built on concrete slabs. I have one 480 sq. ft. permitted and two 280 sq. ft. homes permitted and ready for construction. My goal is to sell these homes but no new construction has occurred in years and the size makes it difficult to get comps. The goal is to sell the 480 sq. ft. homes for $65k and the 280 sq. ft. for $45k. Currently, I have several people interested but none are qualifying for local bank financing with downpayment assistance. Needless to say I have a lot of interest in renting but I need to get my cash out of the two houses under construction and create comps for future sales. Any deal structure advice would be appreciated. *note: the Memphis real estate market is still low so our values are behind other values nationwide including nearby Nashvillle. Also, plenty of inner city lots but few investors/developers/contractors are willing to build new homes.