All Forum Posts by: Nick Hummel

Great, so if the budget came from a GC would I still be able to act as the GC on the build? Do you have a website or email I could apply through?

 Awesome, is that every week?

 Very nice, we're in Asheville, NC but if you're open to being a partner on paper we can give you a cut of the equity. Looking to do build to short term rental.

Thanks guys, I guess I was thinking about it the wrong way. I wouldn't need a contractor partner, just an investor partner that has done new build projects before. But all the lenders I've seen so far require at least 3 new build projects as experience so if you know any lenders that have lower requirements let me know.

I want to do a build to rent project but the only way to get funding is to partner with someone who has done more than 3 new builds. I've personally only done 1 so far and my partner has done 1 renovation project.

Has anyone partnered with a contractor before to be able to do this?

There are lenders that offer 10% down investment property loans as 1st lien HELOCs. The interest rates are higher, currently 10-11% but it's interest only and it's a revolving line of credit you can use for anything. They're variable rates so they'll go down when interest rates go back down.

I can do a lot on my own, but I know I could scale a lot faster if I found the right partner. Does anyone have any advice on how to go about finding one? I have no idea where to start. 

Here on the Big Island the opportunity is huge because its the last place in Hawaii where there are cheap homes. Just looked at a nice 2 bdrm house for 185k - that would be around $800 a month mortgage payment and similar short term vacation rentals in the area pull in at least $2400 a month with huge room for increasing that.

Thank you Duc! It's a bit of a grey area since we rent campsites and cabins and not houses or apartments but I believe since we live on the property it's still within the law.

Thanks Rhonda, we thought about doing that, we have rented campsites on Airbnb before, was wondering if Hipcamp would reach less people or not but will definitely try it in the future!