THe lender is a credit union and it is a conventional low rate loan.

I began shopping for a large construction loan to build a new car wash on the land. 

I have a great one in Kansas City for over 15 years that I've used multiple times (only auto loans however), but hoping to branch out locally as I begin my investor journey in Arizona. 

If you would like to hold the property for longer, that is fine as well, just note that your loan payment will be done after 20 years.

The DSCR loan would allow you to qualify based on the rent you are collecting and get up to 75% of the value (175 x 0.75 = 131.25k, minus 20k payoff and closing costs.You could get a line of credit or a bridge loan against it to borrow money, but it would be higher interest.

Platforms like BiggerPockets, local REI meetups, and Facebook groups can connect you with investors seeking opportunities.Joint Venture Partnerships: Consider partnering with a seasoned developer or investor who can provide the capital while you contribute your vision and operational effort.Hard Money Loans: If you’ve identified a property, some hard money lenders may fund the purchase and development based on the future value (ARV) of the project.Crowdfunding Platforms: Sites like Fundrise, Groundfloor, and RealtyMogul cater to real estate developments and could be a great way to gather capital.Seller Financing: If the land seller is open to it, negotiate terms to finance the purchase directly with them.2.

@Nick AmDepreciation is a ZERO % interest loan.  

As far as your next property, if you are already considering moving you will get better loan options + interest rates if you decide to live in the next property and rent out your current house. 

Almost every realtor has several investors ready to invest at least $2 million in cash.If you’re planning to use hard money loans, agents won’t show properties without prior proof of funds.I’m curious, is this a general market trend in Ohio or just this particular realtor’s approach?

Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...