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Updated over 7 years ago,

User Stats

122
Posts
33
Votes
Yiftach Ilyov
  • Specialist
  • Tampa, FL
33
Votes |
122
Posts

New construction and financing

Yiftach Ilyov
  • Specialist
  • Tampa, FL
Posted
So I started to learn the new construction field and, of course , starting with the finance side of things(all start and finish in money!). I spoke to a few lenders(private and banks) to check my option for funding new construction. All of the lender told me they won't lend money if I don't have most of the equity on the land I'm building on. My question is if there's lenders that fund both land and construction or is there an angle or a creative solution for this situation? My strain of thought is - when the big players buy lands in the millions and the construction go in the tens of millions I'm sure someone lend them money for both land and construction, is there any solution for a he little guy ? Thank you :)

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