SEEKING FUNDING FOR A NEW CONSTRUCTION PROJECT
Hello Bigger Pockets Family,
The requirements for a typical new construction home loan is as such : you need a general Contractor with recent experience, you need up to 10- 20% of LTV usually a one time or a double closing loan, which I'm ok with but I'm running a thin timeline. I've purchased vacant property, rezoned the land, worked on grading plan for last 6 months with village. Now I'm to the point where I'm in need of contractor with past experience but alot of the big players in my area don't do small land development. I must break ground before the end of April per the villages requirement. I've strenuously pursued partnering with a gc but to no avail. I'm now to the point of thinking maybe a owner builder construction loan would suit my situation better. I've done all the meticulous takeoff work. I'll get my GC license and sub the work out myself. Does anyone have any advice or help me in either direction? Seeking about 375k in capital.