Construction Loan to sell or buy and hold

[Richard Miller]

Anyone have knowledge on construction loans? I think I have an idea of how they work, but not sure exactly what they would cover. I have been thinking of purchasing a lot, getting a construction loan and then selling the house or holding and renting if numbers make sense. In what order would I go in? Example: purchase lot, approved for construction loan, find a contractor.....

Thank you in advance for any advice.