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.

@Sophanara Khoeun you mention that you have no time as you have a 9-5 job - so, do 99% of investors!

The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

This can 100% be done, but requires a lot of time, effort, and networking. 

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

The longer you are able to hold your property, the more time appreciation will have to do its magic.

If you're considering private funding or investor partnerships, now’s a good time to explore those.

Or start a business which would require a lot more time than owning RE.If it were me and Dallas is appreciating, I'd probably hold onto it since you've had it since 2011.

Welcome,I am a fellow Canadian, have spent lots of time in Alberta, as I am a pipe fitter by trade.

I took the time to set it up and that property ended April 2024 at 100% occupancy.