All Forum Posts by: James S.

I have about 140k in cash available, and looking for guidance on the best route for funding the second half of constructing a duplex. A little background, I own about 9.4 acres in Hermitage, PA where I house hacked the property. I put about 60k down to avoid PMI, and it came with a duplex (I live on one side) and a single family netting me 2500/month with mortgage being $2,080. I have started to work directly with the city to get approval to construct multiple duplexes on the property, a surveyor/engineer, and an architect finishing the plans. I also personally know a builder who can construct them for about 250k each. My current plan is to get a construction loan for 125-150k, and once it's constructed do a cash out refinance to pay for it. Is this a good plan, is there a specific loan to use, or what is the best way to do this? Thank you