Builders/construction loan, advice?

[Joseph Shevy]

Hi BP,

My wife and I are 24 years old and we just bought a beautiful piece of land in cash, using our income and rental cashflow. My question is this:

Does anyone have any personal experience using a builders loan to build your house/dream home? Im looking at a couple banks that seems willing, the interest rates aren't terrible and the timeline is only 8 months. Im having my GC grt together some estimates at all, but was hoping someone had some experience with these loans!

Thank you,

Joe