All Forum Posts by: Matthew Bryant

Ken

I'm a general contractor that builds multifamily along with single family.  The bank will want the land and construction all under one loan.  You will need an experienced general contractor for the construction that likely will be required by your lender.  32 units in not much, but depending on your costs of onsite and offsite improvements, and at what stage they will need to be completed, along with costs will help you determine your phasing.  There is also the absorption of the units into the market.  They don't get completed all at once so the absorption will be spread out over some months.  There are a lot of moving parts when developing, building, and holding so make sure you get all your information before committing. 

As far as the IRA. You will want an LLC for this project and the IRA will contribute the funds. If you need additional funds you will want to confirm the regulations with your IRA. Best to consult with an attorney.

Jordan

I'm a builder/investor here in the Rogue Valley.  I just had the experience of squatters on a property I bought last spring.  The first time I was a nice guy and asked them not to come back as we were going to fix up the place. Second, I told the policeman that was cruising buy, and he told me good luck.  So basically I was there early in the morning with my dump trailer and told them to clean up all their crap and hit road.  I wouldn't be so nice the next time.  Lock it up at all times, meet the neighbors and let them know you want to help clean up the neighborhood.  I found this to help. Keep a light on inside as squatters don't want to be seen.