Need input for financing - built-to-rent multifamily (highest leverage possible)
Maybe someone can share a finance stack they used for high-leverage (a lot of debt, as little down payment as possible) real estate development project?
I am planning to build 6-20 unit studio apartment block for medium to long term rentals. (unit count depending on the debt ammount I can get)
My current plan is to take 2 loans:
1) Short term loan that covers land and soft costs (I put down 10%)
2) Construction + holding costs loan that I refi after stabilization to amortization period that makes sense. (To get construction loan I need the land and business plan including budgets, engineering done ect)
My question is if this stack makes sense and what other ways of high-leverage financing do you reccomend?