Partnership Propsects, Atlanta Georgia New Construction

[Jake Blumstein]

I am a fairly new investor (almost 2 years experience) and have a working relationship with another investor with much more experience in fix and flips. We recently were offered an amazing deal to purchase 4 lots in in the desirable 30318 zip code in the Atlanta, Georgia area. We would need to purchase all 4 lots in order to close, and they would cost around $140,000 each. The comps in the area for new construction are near 1 million dollars each. However, on all of our past deals, we have done financing for rehab investing (which requires lower closing cost that new construction). Our current lenders all require at least 15% of the purchase price and rehab budget in order to close on a loan like this. Any advise from you guys? Anyone interested in forming a partnership to get this done?