So you are talking about a loan of $200K.

., the appraisal for 5+ is at least $2k-$3k) and the financing structure by lenders because Fannie/Freddie don't generally buy loans for commercial properties.So, for you personally, the biggest driver for the type of your next property is probably going to be the amount of a down payment/equity you can put in the property.

This should roughly take me to 150k per year and carry the loans for land and construction.

Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.

New loan is a 10/30.

Hello, my name is Julian. I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license. I am 14 hours into the 20-hour online course offered by "RealEstate...

But bottom line every place is different and there is no one size fits all for the development game.In Oregon and WA many banks will go 50% loan to cost not to exceed 50 or 60% LTV on dirt.. but for me I always pay cash for the dirt.

Don’t overlook the 10% down second home occupancy loan for financing a property like this.  

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

Possibly break loan covenants and can't cure default, lender takes back property.