Financing for New Construction?
Hello BiggerPocketeers,
I am still a new investor with three SFHs. I recently came up with an idea to buy a small piece of land, 1/4-1/3 acre and build a small house (300-400 sq.ft), as a rental. The total investment I had in mind was between $50,000-70,000. However, my lender tells me they will not extend a construction loan on an investment property.. Does anyone know if there are lenders out there that do this? I would love to get any feedback as well as suggestions on how and if I would be able to do this.