Construction loan for multifamily

[Kati Dang]

New to the industry. We have land in New Jersey and are looking to build a multifamily property. What are your thoughts and/or advice?

[Jamie Hora]

Hi @Kati Dang and @Don Johnson.  Do y'all have more targeted questions?  You'll get much better help & advice from the experienced members BP if you can explain what part of the process you are in, what exact questions you have, area's you need assistance in, etc. 

Because I do not know much about your projects, my first recommendation is doing as much due-diligence on the site as you can first, then reach out to the governing City/jurisdiction where you'll need permitting.  Understand the zoning code and requirements of your land, will you need to rezone(?), what the zoning allows you to do and what it restricts.  If the sites are larger than 1/2 acre (NOT AN EXACT NUMBER), and you are needing to develop the land (i.e. roads, utilities, mass grading) I would then recommend involving a civil engineer on a site plan and to do a more in-depth due-diligence.  However that could be irrelevant depending on what your exact project needs. 

Best of luck on the projects!