Be first position until he gets the construction loan, at that time he then will have the construction loan buy out his PML out an pay any accrual interest and origination fees.

Investment Info:Condo buy & hold investment.First primary residence (2 bed/ 2 bath condo) located into a desirable part of Southern California.

And although I'm grateful to have found another lender to get it done, it cost me more money in points, a higher interest rate because of the current rate was higher than previous, and I had to buy another appraisal for $750.The response I received from one of the founders of the company states: "We are not able to refund any amounts at this time as the time of quality control has passed....

A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

If you’re in the Detroit area and looking to buy, sell, or simply connect, I’d love to chat!

Do that for six months before you think about buying so you meet other people who are doing what you want to do.

@Eric L Conry you are essentially borrowing on your property to buy stocks.

They also only charge 1.5% realtor commission for the selling side and obviously nothing for the buying side.

Hello Frank, I think house hacking a small multifamily property that you buy with a low downpayment is one o the best and lowest risk strategies that you can get started with.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.