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Updated almost 8 years ago on . Most recent reply
Private lending for New Construction
I am looking for a New construction private lender. I currently have a mortgage on a Townhome and am looking to acquire a second home, I will be renting out the townhome when we move into the new home for almost double our current mortgage. I have already gotten the appraisal done and a cost break down for the build. Once complete I would have $125k of equity In the home when completed. Would a private lender be good for this type of situation? I am new to this forum and to private lending and could take as much advice as possible.