What are some common terms/ways when seeking funding/investors where I own the land in a desirable area and want to have on the land MFH?
Essentially, I found a nice plot of land that to me is in a great area. I want to pop on there a quadplex, live in one unit and rent out the rest.
I've been to a few RE meetings and the going cost of a quadplex to build is about 250,000-300,000 - which is fine to me, land cost would be about 40-60K.
Do I just seek out new construction loans, or what do I do?
Is the land zoned to permit this kind of use? That would be the first question to answer. The city planning and zoning department could answer this question. Another hint to the answer may be are there other multi-family properties already built in the adjacent lots? If it is surrounded by single family homes, then it is not likely. No sense in looking for construction loans if the city is not going to allow you to build what you'd like to build there ...