All Forum Posts by: Dave Meyers

Sent a message. 

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Raja, 

Do you have plans yet? 

Do you know what it would cost to build 1 or all 4? 

Do you know the what construction cost per sq ft is in the area?

Sounds like you're looking for the contractor to become an equity partner in the deal by contributing their construction costs. 

 You may want to seek out any City Council members or Planning & Zoning Commission members that would be sympathetic and turn them into an advocate. 

Did your primary lender ask for X% down? before the construction loan payouts? 

Where did you think the plans and entitlements costs would come from?

Karen, Do you remember the episode number?

@Michael Fundaro I love where your mind is at. I'm in a similar process with one of my properties right now too. 

There are some things you'll want to figure out. 

1. What size (bed/bath,sqft) you'll want to build
2. What local contractors are building price per sq ft
3. That will give you ROUGH building costs. 
4. Wouldn't hurt to also be looking for comps so you can get it appraised higher after built. 
5. Talk to your lender or a few lenders do understand their construction loan offers.

I'd love to help out, feel free to bounce any more questions or ideas ff me. 

Dave

 Tammy, be sure to keep us updated!

 Drew and @Account Closed I added a bunch of steps. What are your thoughts?

https://drive.google.com/file/... 

@Account Closed Thanks! My lot in question is in city and in-between two houses so I know it has utility availability. 

I added those to my project timeline.