Leilah, how did you all finance your first builds?

Hi @Namal Burman it really depends on your goals and finances. 

However I will say financing 95% at today's high interest rates with 33% of the units not generating income sounds like a tough hurdle to overcome in this market, even if you're pulling in strong W2 income.

In other words, these are GREAT locations.I used a traditional bank to finance the purchase of each of these buildings - using a traditional commercial real estate loan.

I only know the basics when it comes to creative finance.

Friend referral How did you finance this deal?

I am working towards the personal finance goal of having $100K in real net worth within the next 8 months.As I see it I am currently in a learning phase of my real estate journey.

My primary focus is on cash flow, and I’m aiming for a turnkey property with FHA financing.

It emphasizes the importance of accounting for every element of a project, including contingencies, financing costs, profit margin, variances, and unforeseen expenses.

One thing to get in the weeds on though (and I am not the expert) is what type of foundation will allow the greatest financing options for prospective buyers.