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Updated over 2 years ago,
First Time Private Lending....Good Idea??
Hello,
I have a 3 acre lot in a very well upcomming and popular area in Fenton Michigan. I want to build a home and then sell it when completed. I have been building homes for 20 years and have my Michigan Residential Builders License along with a Florida Commercial Builders License. I build for a living and have done so for 20 years. I want to find a private lender who can lend me the money up front for the cost to build. I will then sell the home and pay back lender the entire amount plus costs etc. Would this be the best way to go and if so, are there people/companies who would do this? I understand this is a pretty broad question, but this is the first time I would be doing this.
Thank you for any feedback.