New construction loan?

[Mike C.]

My plan is to build a fourplex(townhomes).  I have received quotes for just the shell/frame and a complete move-in ready build.  The difference is close to 150k. I am comparing the complete build to the cost of the shell, plus my supplies cost.

I figure it is worth my time, even paying the mortgage out of pocket while I complete the several months of work myself.  Electrical, plumbing, insulation, drywall, flooring, kitchens, and baths will be completed by myself.  

Is it possible to acquire a loan like this without being a contractor?  ..or is this just a horrible idea?

[Mike Wood]

@Mike C. You did not mention if this was for your primary residence or just a investment property.  While it would be up to your local banks that do construction loans, I highly doubt that you will find many banks that will allow you to do that.   I some banks around me allow you to act as GC for a primary residence, but have never heard of them allowing it for multifamily or investment properties.  

You would have to see if your local city will allow you to GC the build yourself, as described, given its multifamily.

I also doubt that one person can finish four units in "several months".  That's a ton of work.