Help!!! need creative solution to fund new construction

[Aaron T.]

I need some creative minds to help with new construction funding.

My company is planning to infil SFRs within the Tampa area. We currently own 5 lots in the Tampa area. 4 of the 5 lots are funded through private investors. I personally hold the 5th.

Our first lot is ready for ground breaking in the next week, but we are lacking the funding to move to the next stage. After contacting Hard money lenders, they want 25% in the deal. I don't have the 25% after exhausting my capital on purchasing 3 buy and holds and 1 of these vacant lots.

Two of my rentals have equity, but not enough to pull out (75%LTV, would put me cashed out around 10k for two rentals) equity and make a difference in getting these projects started.

Does anyone have any ideas or leads for how we can move forward. I would like to build a relationship with someone to help get these moving.

[Karen Margrave]

@Aaron T. If you own all the lots free and clear, why aren't you using the lots as cross collateral to secure a construction loan for the first lot, then build and sell, pay off and the cross collateral is released, then do it again and so on? 

Also, are the lots actually ready to be built on once you have money, or do you still need to get plans drawn, engineering done, building permit, etc.? 

I know it seems like I'm asking you a lot of questions, but they are all things a construction lender is going to want to know, and anyone advising you too. The devil is in the details. Maybe @J Scott will weigh in too, because apparently I'm missing something!