Yes it will be difficult with those assets. With commercial construction, you typically need to put 35% down. If you own the land, that equity can be applied as though it were part of your down payment. 30 units is going to cost about $900,000 to build so you probably need to get a partner.
[addsig]
so you looking for funding right if so i can help you out on that problem sir
please e-mail at **Please See My Profile**
with your number and e-mail as well i can get back with you as well
thank you
mr leonardo
Quote:
On 2006-02-14 16:17, Prefontaine1550 wrote:
Hello, im a 22 year old recent college graduate. I have flipped 6 houses over the past 2 years, so I have experience in real estate. I live in a college town where there is a huge developing demand for student condos. A few places just built sold 70% units pre-construction. I have done my howehowrk on building costs, land costs, zoning requirements, etc. I would really like to build a 30-40 unit building. My question is this, do I have any shot at all at finding finaincing, being so young and only having $120k in assets including a $45k rent house. I have no regular source of income other than my flips so to speak. Any thoughts, ideas or suggestions? Thanks in advacne for the help.
i am interested to know some details, i develop real estate, mostly commercial. Let me know if I can be of assistance to you. If you have any details on the demand in that area, get me the info and we might be able to do something. check my profile.
Quote:
On 2006-04-04 08:53, lsowell317 wrote:
i am interested to know some details, i develop real estate, mostly commercial. Let me know if I can be of assistance to you. If you have any details on the demand in that area, get me the info and we might be able to do something.
my email is **Please See My Profile**
Yes it will be difficult with those assets. With commercial construction, you typically need to put 35% down. If you own the land, that equity can be applied as though it were part of your down payment. 30 units is going to cost about $900,000 to build so you probably need to get a partner.
[addsig]
so you looking for funding right if so i can help you out on that problem sir
please e-mail at **Please See My Profile**
with your number and e-mail as well i can get back with you as well
thank you
mr leonardo
Quote:
On 2006-02-14 16:17, Prefontaine1550 wrote:
Hello, im a 22 year old recent college graduate. I have flipped 6 houses over the past 2 years, so I have experience in real estate. I live in a college town where there is a huge developing demand for student condos. A few places just built sold 70% units pre-construction. I have done my howehowrk on building costs, land costs, zoning requirements, etc. I would really like to build a 30-40 unit building. My question is this, do I have any shot at all at finding finaincing, being so young and only having $120k in assets including a $45k rent house. I have no regular source of income other than my flips so to speak. Any thoughts, ideas or suggestions? Thanks in advacne for the help.
i am interested to know some details, i develop real estate, mostly commercial. Let me know if I can be of assistance to you. If you have any details on the demand in that area, get me the info and we might be able to do something. check my profile.
Quote:
On 2006-04-04 08:53, lsowell317 wrote:
i am interested to know some details, i develop real estate, mostly commercial. Let me know if I can be of assistance to you. If you have any details on the demand in that area, get me the info and we might be able to do something.
my email is **Please See My Profile**