I have an excellent opportunity that just came up to purchase pre-construction at minimum 30K below current market value. However, I’ve currently tapped my available cash on other projects.
Anyone know of a lender that would finance a down payment on Pre-Construction? Any ideas would be welcomed and appreciated!
No. I don’t see any one lending on that.
Here is another idea.
Make a deal with the builder. You buy the lot for X dollars. Get a construction loan and have the builder build the home for X dollars.
I’ve sure you could structure it so that you still get the home for $30K under market value.
Just rememeber to factor in your holding costs.