All Forum Posts by: Brandon Rouer

Thanks Jaysen. Is the LTV% on this type of loan similar to normal residential housing? The land I'm looking at is worth about $300k and I can figure out how to obtain that but I do believe the project would cost at least a few $M. Wondering if I'd be able to get a higher LTV or if I have to go smaller or find a partner. Would love to build about three of these style apartments. I just don't know anyone personally that's done it.

Hey everyone!

I'm looking for some advise on where to go from here. I currently own 8 doors and what I was thinking about doing is selling one of my quads and 1031 exchange it for a 6 acre plot in my hometown where rentals are in demand. The land is zoned 6 units per acre and located in a good central part of the county.

My question is, is it possible to find a lender who would provide a construction loan for something like this if I was to get the land in my possession free and clear?  I was the owner/builder of my primary home so I do a little construction experience but I'd be using a local builder friend of mine. He is currently building several duplexes and quads. I would like to build 9 two story quads or something close to that, and probably in phases. 

Any help is appreciated. I've been a student of BP for 3 years and its changed my life so I know I'm in the right place here. 

@Michael Doherty

I’d love to hear who would finance on the appraised value without seasoning. I’ve call about 10 lenders and keep getting 7-12 month seasoning.

@Michael Doherty I’m in the middle of one as well and trying to decide how to proceed with financing. I own this duplex 100% and I want to pull my money back out. I’ve had it for 2 months. I’m told I have two options.

1. Get financing NOW for 75% of purchase price.

(Delayed financing)

2. Wait 6 MONTHS total for 75% of new appraised value.

Are you suggesting in the future you’ll take the delayed financing immediately to get some cash back then refinance with the New appraised value in 6 months to get the rest of it?

@Matt Pastier

That would be great Matt. I appreciate your help. I wonder if there is less seasoning for a HELOC. I want to buy another ASAP 😎

@Matt Pastier

Nice job! Who are you using for the refi? I closed on a duplex this month and I’m about done with the rehab. I called the mortgage broker I’ve used in the past and he seems to think there is a 12 month “seasoning period” before I can pull a loan out. Thoughts?