Updated almost 6 years ago on . Most recent reply
New Construction Current Lot
I currently have a 1 acre lot with 2 properties on it. One is being rented, the other I plan on demolishing and adding new construction (Possibly 4 lot Townhome build with parking.) Property is in the suburban Philadelphia area. I know the lot is currently zoned for multi property & multi family use. Should my 1st step be to reach out to GC's / builders, get estimates, and let them deal with local township ? Also, Looking to bank loan the construction.
What are the typical requirements for banks to loan on new construction?
What is your experience with the resell of new construction (especially vs. Flipping)?
Looking for all input as I have experience with a few rental properties but this will be my 1st new construction venture.