Hey everyone,I’m currently building a house and could use some advice on how to best finance the remaining construction costs. Here’s my situation:I bought the lot, obtained the necessary permits, and started construction using my own cash.I still need an additional $160k to complete the construction.The goal is to sell the house for a profit once it’s finished. I don’t plan to live there but rather repeat the process with another lot I own.I was planning to get a construction loan for the $160k, but the terms I’m being offered are steep:The interest rate is 13% since it’s considered an investment property.The origination fees are around $8k.Given these high costs, I’m considering an alternative: selling some of my crypto assets. Here’s the breakdown:I would likely have to pay around $8k in taxes if I sell the crypto.However, this would save me from paying the 13% interest on the loan.I’d really appreciate hearing your thoughts on this. Do you think taking the loan is still a better option despite the high interest and fees? Or would it be wiser to sell the crypto and avoid the loan altogether? Any insights or similar experiences would be incredibly helpful!Thanks in advance for your advice!
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