All Forum Posts by: Wade Stahle

Just what the title says. Closing out my construction loan on Feb. 2nd and want to sell the place ASAP.

Dave and Tim,

in this case the land is owner financed. So i own it but havent fully paid him yet. This is a confusing one!

Hi Mike, I am positive I could duplicate the same thing again. Would just be another construction loan. 

Hi BP,

I am building a new construction duplex and am deciding whether or not to rent it out just sell it. My numbers for each are below. Which provides the best NOI? Opinions?

RENT:Monthly mortgage all in is $1130. Can rent each unit for $1300. Tenant pays all utilities. I would be managing.

SELLING: Cost to construct is $175k. Appraisal came in at $255k.

Should i take the money from the sale or hold long term. One caveat is i do plan to build more.

thanks Dave,

So if i did this with an investment property could I do it with an owner builder construction loan?

Can I do a 1031 exchange to a new construction. To be more specific, sell my place (that I have lived in less than 6 months) and then get a new construction loan if i can build it in less than 180 days?

what are the costs of keeping a HELOC open and initiating one?

My question is whether or not I should execute a HELOC. Im approved for 18,000. I dont need any of that money right now.

Should I go through with it just to have it as a source of backup liquid asset? Pros, cons?

Hey Keith, thanks for the input. Have you ever had one sold with the money in your pocket before it was finished?

thanks Hamid. So how does it work? Do I have to have a set end to the construction date? They won't know all the interior looks or paint or anything.