How do builders finance 20-40 unit buildings in North Jersey?

[Andres Ospina]

I’ve recently came across several properties with approvals to build a 10-40 units. I was just curious what are some of the options on how people fund these projects.

It just seems as a hard money loan wouldn’t be the most cost effective way to do this project. I have yet to speak to the smaller local banks to see if they will fund something like this.

[Michael Le]

It will likely be a community or regional relationship bank. They will look at your balance sheet financials and also your experience at developing these type of projects. If you don't have it then you will need partners who do.