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Updated over 6 years ago, 06/08/2018
Can construction loan be used to buy land to build apartments on?
I have experience working in rental property management. Now I want to start my own company.
My question is: Can a Construction loan be used to purchase land to build multi-family units on such as apartments or town-homes? I know a construction loan can be used to purchase land to build a house on, I'm wanting to know if it can be done to build multi-family on. Also, I know the zoning would have to be for multi-family/have to get rezoned for it.
Thanks!