Financed secured! · Build 2 Rent Real Estate

Financed secured!

Hey guys, I thought I would share some positivity tonight. After my local bank got bought out by another bank, and this being my first build, my finance got shut down for my new build. I was going to fund my new build with my equity from a rental. Talked to another bank, but they wanted sooooo much info. I also never did get a response back after I asked him if they would lend being my first build. So I tried a local HML that funds a lot of local flip homes for investors. I’ve heard great things about them so I decided to send over my info to him. In less than 12 hours he approved me! And best of all. He’s funding the entire build cost. Not including the land. Which I’ve already purchased for 11k.

Breaking ground the end of the month. But rates are definitely high. But I think this year I am going to be okay with that. This will be my learning to build year. Will I make money? Sure. Not much. But I think I will enjoy building over flips for real and flips to rent. I’m just so over these old homes guys. And contractors hate old homes too.

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