Construction loans

[Jesse O.]

Hi all - Quick question, has any had any experience with a lender that will do construction loans on an investment property? Duplexes in particular is what I was wondering about, I'm in FL.

[Karen Margrave]

@Jesse O.  Well actually you DO have experience, so own it., and have confidence number one!  That helps when 'selling' your project to a lender. 

On your lots, Are they all together or in different locations? What is the present market value if you were to sell them to another builder? How much equity do you have in the lots? Are they developed lots or do you have to put in curb, gutter, sidewalk, utilities, road, etc.? 

The first thing you need to do is determine what the costs associated with building will be. Once I know a little more, I can help you determine a next step.