His name is on the construction loan and it is secured as well as the cash to purchase the property came from a heloc from his personal residence. 

I hate tiling as well...the worst is once you lay it out and are 90% done...grouting/cleaning SUCKS even more!  

If you think you might put down roots here, then this could work out well for you in the long run.

I'm a local chicago mortgage lender but we are licensed and do a ton of business in CA as well - happy to be a resource in any way I can!

Yes, they may not lose their money but they won't make the most out it later down the line if it wasn’t a well-calculated purchase.I am sure all of this can be leveraged and outsourced but why can't all of the above be in one website, like imagine interactive brokers but for real estate investments.

I'll follow up via DM to connect further.Looking forward to diving into more BP content and meetups as well.

There's a specific development program for financing newly constructed properties for buyers and the entire project as well.

Not only that, but you'll have to also pay interest only payments on the loan while the property is being built as well.

If we partner with a builder I am assuming they'd get a percentage of ownership and at that time we'd let them handle everything dealing with the actual development- land clearing, managing the contractors, as well as all other costs.

We've recently added accounting tools as well so that you can collect rent and get professional-level reporting in the same place.