Is project financing possible in this way?
From what I know, the common process of financing in the real estate development is like this:
https://cdn.corporatefinanceinstitute.com/assets/p...
But what if a junior developer who has less job experience in this field than any others and is trying to develop a huge scale of townhouses?
In South Korea, for example, if a person(not a certified developer) has a valuable raw land and desires to build apartments without enough money for from building to maintenance, he or she has to meet with designer and architect. They design a blueprint of that property and make some documents to contract with a construction company. If the company complete the process of review in a positive way and is being announced that the landowner doesn't have enough money to pay for construction, then they look for lenders who can agree with the profitability of the project. At this point, the subject of borrowing money is the construction company, not the landowner.
Is this possible in the US? If yes, please show me the case.
Thanks for reading.