@Heath Shepard I'm not familiar with the builder, however, with this being a new construction CBS build, there's little to worry about regarding hurricanes and additional protection.

This is perfect for developers to tear-down and put a brand new construction home 4,000 sqft house which could sell around 2.4M. 

Otherwise you're looking at like a 8.99% 12-month bridge loan if you want to fund the construction piece too.

There are also more than just the standard value-add multifamily available for syndications, you also have build to rent (new construction MF), RV Resorts and campgrounds, business m&a funds, storage, and much more!

Brand new - under construction!!

So with another 100K in construction/fix up cost bringing the total to 500K it meets the 1% rule, obviously I would do more underwriting but I need to be solid on those comps. 

It’s more helpful to offer information rather than discourage someone from exploring their own path.FIFTH: I appreciate that you want to look out for others, but encouraging education rather than discouragement is more constructive.

After doing the last project that included extensive extension, I realized that New construction was something that I was to pursue.

I had to construct metal stairs to the third floor.

Our overall Construction costs have gone up 20%.