Anastasia That’s a great deal for land, especially in residential areas.

Quote from @Doug Smith: When we started this company, I had been a special assets officer (handling non-performing loans for banks trying to extricate them from the deals with as little damage to them as possible) during the last big crash.

I'm okay with a high interest rate up to 15% because I can still breakeven on the mortgage but not sure how to finance this deal without losing my initial payments

Here’s why selling your primary residence to your LLC and then renting it back isn’t a good idea from a tax perspective:Self-Dealing Doesn’t WorkFor tax purposes, a single-member LLC is considered the same as you, so paying rent to your own LLC is basically just paying yourself.

How did you add value to the deal?

This isnt a bad deal for someone with a SDIRA who wants to do a smaller loan amount.

easy to build, rent, refinance repeat. might not be your market. look at the underwriting model. we underwrite every deal not only with fresh comparable but market economics change. land costs go up or down, construction costs go up or down, design modifications improve the property, comp sets can get more favorable or less favorable.

We didn’t find a joint investment, but I found an off-market deal and invested with my dad separately.

What made you interested in investing in this type of deal?

It's tough in this market but not dead, off market deals are very tough to get right now and you have to jump on them when you see a good one.