All Forum Posts by: Wendy Boone

@Tyler Gibson We will if We can’t find anything other options - I’m just looking for alternatives, hard money is so expensive.

We have an opportunity to purchase 5 lots in a single subdivision (off market) four of which are vacant and one has a partially finished spec home (closed to the weather) that is currently under construction but won't be finished if we purchase the portfolio.  I'm looking for ideas or suggestions on how finance this project.  

Details: The seller is willing to carry 350K on a 700K purchase, and we have a builder lined up to finish the existing house plus build spec homes on the four remaining lots.  We intend to presell the four remaining lots, and have a hard money lender lined up to fund the construction. These homes will sell for between $400K - $550K based on current comps in the area.

 I'm looking for a way to finance $250K out of the $350K the seller wants down on the deal (we have $100K to put into the deal.)  Any suggestions are appreciated!

Thank you for the great info!

Thank you Chris,

I figured that might be the case as far as trying to find stock plans?  Do you have any recommendations for an architect or draftsman in your area?  We’re looking to build in the Coos Bay Area.

Thank you, have a great weekend!

Wendy

My husband and I are looking to build a 20 to 24 unit apartment building on land we own in northwest Oregon and are having a tough time finding stock plans for such a project.  Does anyone know what the magic search terms are or what designers have plans available?  Thanks!