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Updated 8 months ago,
Need Construction Loan - building my first 3-flat!!
I'm building a 3-flat in East Garfield Park, west side neighborhood of Chicago. I own about 80 MF units, but this is my first ground up construction. I have a partner who is the GC. I've paid for the land, architect/permit fees, excavation and foundation out of pocket. But I'm looking for a $500k loan to finish the project.
This will likely be the first of many. About to go under contact on a second lot in the same area. So looking for a lending partner that will help me grow as efficiently as possible.
Also would love to connect with anyone doing something similar or with any development wisdom to share. Thank you!