Lending to flipper for construction w/o collateral

[Aaron Fine]

I’ve done a few deals with a flipper in my area and all have went well. The new project is a knockdown and new construction build. The issue with our loan would be that there is no collateral since our loan amount would be more than the land value itself if anything were to happen. He doesn’t own another property at the moment free and clear to use as collateral. Would you all feel comfortable or is it safe to have a mortgage on the property if the value is just the land at the beginning of the build? Thanks!