2-4 units typically have lower loan to value then do single family homes.

But that's because it's located close to the Denver Metro Area and it's been overlooked for years.

So, you are tying the property up and may not close as you do not know the numbers. 

How much will my closing costs be?

., where prices are much lower but still well above Toledo.The significant boost in pay won by United Auto Workers members at Stellantis and General Motors in Toledo and rippling out into the auto-manufacturing supply chain boosts buying power in the local economy and is surely behind the economic projections of real estate sales growth exceeding all but one of the top 10 markets.

I'm aware of seller financing as a possible option and will be on the lookout, but it certainly dramatically lowers my deal pool in an already incredibly competitive market.

They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

The structure we landed on was as follows:- Fixed Builder fee of $300k (each project varies but are 2-6 units, and 5,000-9,000 total finished sq ft)- Fixed Return on all my initial capital invested of 50% (plus return of 100% of initial capital)- Remaining Profit Split of 60/40 (60% to me, and 40% to him)I understand a lot of this hinges on how accurate the proforma is and how close we can get to actually hitting our development costs estimates, build cost estimates, and sales per sq. ft. estimates.

I know loans can take 30 or more days to close.

Put safety first by looking closely at homes, guessing fix-up costs, working with good workers, and having backup plans for surprises.