@Richard Schubert can you get a 401k loan?

Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

Do 80/90% of land 100% of construction loans exist?

A few thoughts- do you have any equity in the car with the $20K loan? 

The lots are owned free and clear so the loan would only be for the construction.

One was a straight-up purchase, the other included a loan component.

Knowing with the FHA loan might go that route but wondering what other people would do.

.: Joe, HML have a balloon that would be due at the end of the loan's term, commonly 12 or 24 months.

Very likely the condo project would not even be eligible for an FHA loan.

I they accepted an offer of $118K from my brother but since he couldn't get the loan, we're starting over.