Since the interest rates are high right now and prices pushed back a little bit I thought about doing an owner finance on a five year balloon.Thinking about paying it off in full and then turning around and doing an owner finance at a value somewhere between its current condition value and the ARV.

I had previously used LendingHome as my HML but they stopped lending in Illinois, I asked a local investor @Mark Ainley who referred me to the Eric Workman the VP of lending for Renovo Financial, they are local (Chicago area), met with him and felt we hit it off well.

Basically the bill just gets stuck on the other homeowners account with interest accruing and at some point in time they try to sell or refinance the unit and it needs to be paid off. 

Let's kick off this discussion— if you've ventured into residential construction investments, could you share which market you're in, your experiences or challenges, and any advice for newcomers?

as I said happy to discuss in more detail off line if that would be helpful.  

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

First off, i live in Florida and my rental property is in OH.

Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?

I have clients who are more sophisticated and have some value of lot splits, surveys, etc but even when they bought it and split it off they don't really give much value to that. you have to put the power in you hands and negotiate with lenders.

I remember the topic being wholesaling/finding distressed off market properties.