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Updated about 8 years ago, 09/21/2016

User Stats

8
Posts
1
Votes
Anna Hammerle
  • Camp Verde, AZ
1
Votes |
8
Posts

Financing for New Construction?

Anna Hammerle
  • Camp Verde, AZ
Posted

Hello BiggerPocketeers,

I am still a new investor with three SFHs.  I recently came up with an idea to buy a small piece of land, 1/4-1/3 acre and build a small house (300-400 sq.ft), as a rental.  The total investment I had in mind was between $50,000-70,000.  However, my lender tells me they will not extend a construction loan on an investment property.. Does anyone know if there are lenders out there that do this?  I would love to get any feedback as well as suggestions on how and if I would be able to do this.

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