Seeking Advice/Connection - Real Estate Development in Austin
I currently own a SFH rental in Houston, and am looking to expand my portfolio. I found a neighborhood in Austin which I believe is gentrifying and has significant opportunity - however, most of the properties are open lots.
I would love to connect with someone with property development experience to ask general questions to understand my options.
For Example:
If I choose to develop, how would the loan be structured? I assume payments on the actual property would start immediately and then a construction loan would be needed and begin payments upon closing - is that correct?
For anyone who has done property development before, would love any words of wisdom - bonus points if it's from Texas experience! :)
Thanks in advance! :)