New Ground up Construction Loan Lender

[Ravi Karuturi]

Hi,

I am analyzing a deal where in i want to buy a land and build some apartments. what would the Lenders look for in this scenario. I am trying to raise money from Friends and Family for putting together the down payment needs. Say the project is worth all in 10 million how much do i need to come up with?

[Ravi Karuturi]

Thank you all for your suggestions. I was able to find a lender who was willing to lend based on credit profile and up to 80% LTV even though i dont have experience. I am thinking of giving all the work to GC so the lender asked that i got with some approved GC so he feels comfortable work will be done correctly.