Hard/Private Money for New Construction - Winston Salem, NC

[Mel F.]

Hey BP folks. I'm looking at buying a lot or two in a new development in Winston Salem, NC. The lots are ready to build and the agent says I can use my own builder or use the developers preferred builder. I can also hold the lot as long as I'd like. I have enough cash on hand to buy the lot but not to build the house. I don't want to use a bank loan if I can avoid it (although I do have an excellent credit score). My guess is that construction + holding for sale will be be 8-12 months. With an average construction cost of $65-80/sqft and recent comps, I'm looking at possibly a $25-30K profit.

Question 1: Do either Hard Money Lenders or "Private Lenders" lend for new construction?

Question 2: Do HML or PL loan for 12 months?

Question 3: What are other funding options for new construction?