Unfortunately, there was an undisclosed leak issue that my inspector uncovered, which the seller was supposed to fix.

And for anyone who says we have bad contractors, consider that every builder has a construction manager, who does nothing but keep jobs moving, coordinating between trades and monitoring quality.I am a die-hard real estate investor, so it takes me quite a bit to say this: given the remote burden on your ROI, maybe an S&P500 index fund will deliver you better returns for much less headache?

I figured out the only two money making industries that don’t care about felonies (I have four) is hospitality and construction.

Always get a thorough inspection, in this case get one from an inspector with experience in 100+ year old houses. 

Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed.

Rents will remain high and go sideways in most markets, with the exception of where new construction has been running hot causing move in specials.

I have a  process in place in FL  and NC to get turnkey new construction that cashflows day one.  

If anyone is looking for contracting services in the Orange, Riverside, and San Bernardino Counties, give our company Reliable Construction & Doors a look.

If so, could someone explain how construction loans work and share their experiences?

Also I plan to hire a home inspector to inspect the outside of the foundation for any issues.