Updated about 2 years ago on . Most recent reply
New construction investment financing
Own a lot free and clear, looking to finance a new construction build to be used as an investment property.
We’ve spoken with lenders regarding one-time construction loans, but trying to do the most cost effective route. We will likely be using the value of the land as the down payment.
The goal is to potentially get cash out at closing based on the new appraised value, as there will likely be plenty of equity, if at all possible while still using financing for the construction.
Does anyone have experience with anything similar or recommendations on routes to take?