All Forum Posts by: Tori Rhodes

Hey everyone! I am seeking advice on how to get a construction loan. 

I am in the process of getting my Michigan Builders License and I currently own 4 small rental properties. I have never built a home before and I do not have 'construction' experience aside from renovating my own spaces (so i do have experience- just no formal experience). 

I have begun to look for a new primary for myself but have decided that if possible, I would like to build rather than buy. 

Is there any way to get a construction loan for a self build WITHOUT extensive building experience and references? 

Any assist here is so appreciated!

Thank you, 

Tori

Meghan, 

Thanks for the response! I am not looking in markets outside of Michigan at this time. I really believe in my hometown and have a good grasp on it so up until now- I have simple bought whatever I could as soon as the bank would give me a mortgage. I have never purchased anything 'perfect' but all of my rentals could have been rented as they were upon purchasing them. 

Thank you! That is so kind :) Definitely struggling now though as I've said- in trying to figure out what next steps might be. 

Really looking for a coach of some sort- so appreciate all responses and input 

Drew, thanks for the response! I am hoping to pull from a HELOC soon with funds up to approx 125K available to me through that. I am a little weary since I haven't done that before- not sure it would be enough to get me into buying portfolios or larger complexes though..

Hey Everyone! My name is Tori. I bought my first house when I was 24 and now have 5 relatively small properties in Michigan! I have my real estate license and am also an occupational therapist by trade- but truly I don't want to be in healthcare OR to help others to buy/sell- just want to get more properties under my own belt! So far, I have been fueled by passion and determination but I do not have any mentors and have not had a lot of guidance at all as I have obtained these properties. I am now 29 and wanting to grow at a faster rate- and also ensure that I am making smart moves, rather than just grasping at whatever a bank will give me. Would love to form connections through this site ! Very grateful for bigger pockets!