Hoe does GNMA MultiFamily work?Think this project can be financed through the Agency channels?Frank, I would consider another property for redevelopment if I cannot handle this.Thanks
it's an empty lot, parking space. My first one was redevelopment of an old building. So I guess there is no other option?
No this would be my 2nd project, first one was more confirming as it was below 4 family and was able to finance it through FHA. However, given this project would be twice the first one, was wondering if there was any kind of financing that I can qualify for. I can get private investor, however I prefer to avoid all of that and just get finacing instead. As far as Capital goes I can probably do 10% down.
I am trying to buy an empty lot and build 10 unit multi-family home. The whole project would cost around $2.5mm. Is there any kind of mortgage that would finance the land and then the construction. I am very new to this, and was wondering if this is even feasible in this market.