Non-Traditional Properties and Financing

[Gavin Davie]

So bear with me here - here's the plan, hoping y'all can help me figure out ideas for the best ways to fund/finance these type of deals -

Details:

LLC (I have a partner I'm working with) - our plan is to buy land and place modular, container style homes on the land and rent it out. Currently we have the cash in the bank to buy the land and not much past that, I know to get hard money loans that you flip to a mortgage or refinance post-construction you generally need a decent pile of cash in the bank, looking for ideas here on either type of lenders or better ways to approach this. Thanks!

[J. Mitchell Bernier]

@Gavin Davie you may have any issue finding a bank that will finance the container homes, because they are so specialized. I would instead finance the purchase of the land, put 20% down. Then use your cash for the containers.

Good luck!