Hello everyone,

I'm looking at 3.5 acres that is commercially zoned and has a small warehouse on it.  I want to construct mini storage on the lot.  I would like the forum's opinion on how I should structure the loan.  Should I purchase the land (bank loan) and then after owning the property get a construction loan to build the buildings/lot/etc, or should I get one commercial loan that will include paying for the property as well as the building and construction.  The owner is a individual, private owner.  The construction will be handled by a local contractor that I have a small previous relationship with.  For what it is worth, there is a time factor involved in that there is a large corporation that is also wanting to purchase the property and ready to do so quickly.

Your opinions are appreciated.

Thank you,