All Forum Posts by: Van Ngo

roughly 6000 sf apartment - 7 units 

Permitted, ready to go. Thank you

Hi everyone,

Two long years, and we finally got our permit. Now moving to the next stage, I need a list of construction companies and broker to obtain bids and working on the commercial construction loan.

Appreciate any rec you could provide

Thank you Erik. These are inline with the information I already have. Additionally, do you have any recommended bank or lender? I heard that the requirement for a good builder also play a role, I was hoping to get a builder to do the bone and then I will hire out subcontractor myself for the smaller pieces (paint, cabinets, and such) 

Hi everyone, we are in the process of building a 7 units complex downtown area, San Diego. We are about a month away from getting the permit (2 years now) and we own the land (value at 650K), any guidance on commercial loan would be great. Although we have great income, but nothing to the amount that gonna need for the project. Also anyone has experience with how does getting a builder play in the process of applying? I'm assuming we just need to identify a builder? or do we need a contract? 

@Mohit Anchlia 2years ballon payment, 7%

@Mohit Anchlia I’m looking to my options as we currently have seller finance on the lot and trying to see if it would be cheaper to get a loan from a bank.

@Mohit Anchlia in San Diego. It’s in the process of getting my a permit with the city. So probably not gonna get the permit for another 8 months. Thank you for your help.

Hi everyone, we recently just bought a vacant lot (improved land), we are putting 7 units on it. I’m asking for recommendation for lot loan, constructions loan (commercial since it’s more than 4 units), and eventually turn it to a mortgage. 

Any advice would be greatly appreciate it. I am thankful for your time and expertise. Have a great one. 

@Kevin Z. I’m thinking most commercial won’t let owner occupied. So that’s a big problematic for me. I probably would just build the 4 units first then I will build adu later on.

I’m in a similar boat, did you figure it out? Thank you for your time