In most of Raleigh city limits specifically, the lack of room to build new construction developments has stirred the folks in zoning.

Purchase price: $545,000 Cash invested: $545,000 New Construction Duplex - Beautiful Design and very nice curb appeal. 3 bedrooms 4 bathroom - All bedrooms have private bathrooms.

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

Yes, sewer clean outs are required on new construction, but on a 1947 rehab house that didn’t have existing clean outs, is it really possible that I can be required to install them?

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

Other than new construction development same here we have no senior debt its all cash.. of course unlevered returns are are a little less but man is it so much easier to manage and not worry about paying the senior debt all the reporting One has to do etc etc.. having been through a terrible down cycle with syndication decades past and watching what the guys I worked for went through and lost I just decided if we cant pay cash I am not going to do it. 

In my experience it cannot be used as construction funding. 

Your knowledge in construction, design, and different strategies will be a big help to the community.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

Construction cost was $240k and the bank only required 10% down.