Seeking Advice/Connection - Real Estate Development in Austin

[Amy Bailey]

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! :)

[Jordan Moorhead]

@Amy Bailey I would look into hard money debt and local bank debt

[Dan Burstain]

I just PM'd you.  Not every lender does this and they can vary on requirements, down payments, and especially when it comes to reserves.  There are some great opportunities though in building homes on infill lots or even scrape and builds.