Hello everyone, I am a newbie with a little bit of experience. My wife and I like to buy and hold. We currently have two properties that we have listed on Airbnb. We had to rehab one and are cash flow positive on both.
I inherited a piece of land in Houston, TX that I would like to build 15 unit container apartments on. I would like to get a loan to build these in phases and have some drawings in mind. Do banks give these kind of loans or do I have to try and get this a different way? I am not sure if this is considered a construction loan or if this is a commercial loan? Do I have to get Architectural/Engineering drawings first to get this loan approved? Can anyone point me in the right direction or advise on some good reading material?
