Four Plex Development

[Lauryn Meadows]

I was listening to a podcast where FIG was being interviewed. I really like part of their business model.

With that being said, what 30 year fix rate loans are out there for new construction? I’d like to build ten four plexes on a lot. One four plex at a time and on different loans. That way I’m not over extending myself by developing them all at the same time.

Also, let's say my husband works as the GC and we come in at 80% LTV. Can we finance the 80% and at the end of the day not have a DP?

I've done a construction loan on my personal residence before and I had to start with my 20% down payment to start the construction then the bank would lend the other 80%. However, we subbed out all of the work and was able to finish the project at 80% LTV so our last 20% draw was ours to keep. Is there any Frannie/ Freddie products like this aside from the FHA owner occupant loans? We will not be occupying them.

I’m pretty sure my local bank would do this but on a 20 year portfolio loan. If I can maximize the 10 mortgages rule with frannie/ Freddy in a construction zone like this I’d like to build 10 of these on separate loans.

Thoughts? What loan product do I need?

Thanks!