Hello dear community!
I am new here and found this forum through a Google search 🙂
I’m not sure if I’m posting in the right section, so please feel free to move it if necessary. Since I am still in the planning and idea phase, I thought this would be the right place to start the discussion!
Here’s the situation:
I purchased an undeveloped plot of land in a rural area at a very good price.
It is relatively large, around 2100 m² (about 23,000 sq ft). The dimensions are approximately 35 m (115 ft) wide along the street side and 60 m (197 ft) deep.
If I build my planned bungalow with a footprint of roughly 10 x 12 m (33 x 39 ft), I think I’ll have quite a lot of garden space around it.
My idea: Since I’m already investing money, why not do it properly? I plan to build not only my own house but also two additional houses to rent out.
Now to my question:
Is it even possible for a private individual to get financing for something like this? The only equity I would have is the land itself.
To reduce my risk, could I set up a company and transfer the land to it? Would I be able to obtain financing through this newly established company?
I look forward to your answers.
Best regards,
Volka
I am new here and found this forum through a Google search 🙂
I’m not sure if I’m posting in the right section, so please feel free to move it if necessary. Since I am still in the planning and idea phase, I thought this would be the right place to start the discussion!
Here’s the situation:
I purchased an undeveloped plot of land in a rural area at a very good price.
It is relatively large, around 2100 m² (about 23,000 sq ft). The dimensions are approximately 35 m (115 ft) wide along the street side and 60 m (197 ft) deep.
If I build my planned bungalow with a footprint of roughly 10 x 12 m (33 x 39 ft), I think I’ll have quite a lot of garden space around it.
My idea: Since I’m already investing money, why not do it properly? I plan to build not only my own house but also two additional houses to rent out.
Now to my question:
Is it even possible for a private individual to get financing for something like this? The only equity I would have is the land itself.
To reduce my risk, could I set up a company and transfer the land to it? Would I be able to obtain financing through this newly established company?
I look forward to your answers.
Best regards,
Volka