All Forum Posts by: Steven Di

Trying to build my first spec house and have some financing questions. It is a unique scenario.  I have the opportunity to purchase a half-built project (about 1.75 mil has gone into the build so far -5200 sq ft house) by a renowned architect on 20 acres. I will be able to purchase before it goes to market as it has just come out of a long legal dispute. The price with the 20 acres is 900k (land cost only) which I will buy cash. I have someone who wants to purchase 10 of the 20 acres for 400k so I will be in with 500k. The house will cost 2mil-2.4 mil to complete. I plan on taking out a hard money loan for this. Upon completion if the house appraises for 3.5 mil (conservative) am I able to get a heloc to pay off the hard money loan and what would my mortgage end up being if all this works out as planned?  Thank you!

After searching for a house under a million for over a year I am considering a new build in a mountain resort area. Found a great builder and have my design pretty much  sorted. 

I am looking to hire a possible consultant/coach well versed in residential development and working with contractors to help me navigate this project.

Thanks everyone. Great suggestions!!!!!

Recent empty nester. I am a industrial design consultant that works from home.  I just sold my house and want to move somewhere close to nature/skiing where I can fix up a house and sell it in a 2-3 years. On my list so far:  Sun Valley, Bozeman, Alta? Are there any cool small ski towns that have good outlook for growth?  Open to ideas!  Or are these areas open to the first hit with a downturn? 

Thank you Michael! Agree, it's impossible  to go somewhere new and expect to have immediate insight or have access to someone who does. Why stay away from California?  I know it doesn't seem sustainable but every listing I find remotely interesting has dozens of offers. 

  Looking for hot markets where I can do a flip in the 700-1mil range. On the list is either bigger urban areas or smaller second home areas (just worried about the volume of buyers). On the list: Ojai, Ca., Ogden, UT, Portland, Or. Ketchum , ID .