You're probably here because you're interested in investing in multifamily real estate but are new when it comes to the process. Even if you've already dabbled in the new construction space, either in single-family or multi—the following guide is designed to help you see the big picture.
We hope this simplifies the FIG process for you and answers a question or two. If you still have questions or are thinking about reserving an investment, let us know.
The FIG Process:
First Steps: Due-Diligence (pre-contract)
Talk to a FIG Professional to establish your investment needs.
Select a development to invest in [examples]
Contract & Deposit Stage:
Complete a FIG Purchase Contract & Disclosure Signoff
Day One: Deposit $10k to title company
Once Plat Records: Deposit remainder of 10% of purchase price to title company
Steps from Construction Close to Income:
FIG gives 30-day notice to close on your construction loan "you'll need insurance too." (building typically starts within 90 days)
Watch your email for monthly video updates on the project and finalize property management
Receive Certificate of Occupancy, finalize the long-term loan and MAKE MONEY!