Hard money loan to finance a new construction?

[Damian Baynes]

Greetings everyone,

I've been thinking about a situation I'm in and wanted to run it by the other real estate minds to get your feedback and opinions/ideas. I have a vacant lot that I own free and clear and I would like to develop it into a 3-4 unit building but I'm low on cash and I believe the bank will want me to put down at least 25% if I'm not mistaken. So I'm playing with ideas of how to come up with the funds for construction and I'm thinking about using a hard money lender and then after completion refinancing into a conventional loan. Do you all think this is a good idea or have some other suggestions on how I can come up with financing?

Thanks,

Damian