ok my father has been in the construction business for over 30 years now, so he has alot of friends that will do side jobs for him at very discounted prices, from framing to electrical to painting. so what i had suggested to him is that we buy a piece of property and build a house, because these discounts could potentionally yield an extra $30-50,000 in profit (including not having to pay tax). i am native american so i am able to purchase most things with no tax if they are delivered to me. im having a little trouble getting started on what to do. we dont have much cash right now, so that poses a problem for buying the property. i have found that i need about 40% down on the property alone and i personally cant come up with that kinda of cash, on top of getting a loan to build the house. My father also has a good friends thats a multi-millionaire so i was thinking about asking him to make an investment. im having a little trouble figuring out how i should go about this though, and im kinda looking for the industry standard if there is one. i was thinking about comming up with some kinda of folder showing all the average quotes for every part of the house, then a whole other one showing my dads discounted prices. but im also not sure if we should be asking for the full ammount of the property and the house or just enough for the property, and get an intrest only loan for the house? im not sure, but im looking for some advice from you guys, im hoping i gave enough information.
There are some HML’S that will do a loan for construction to perm. as well as with you being Native American have you looked into grants there miht be some great grant options out there for you as well!