It may be due to the lengthy pool permitting and construction process. 2025 will be a critical year.

I want to learn more. 4.99% for buyers is a game changer selling 6 new construction houses  You just buy down the rate for the buyer.

They build on site.One thing you mention is construction costs. 

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

This could include keeping track of the construction holdback.  

It's a 21-unit co-living new construction build in Midtown, ATL. 

Are you doing new construction in Chicago as well or just KC?

No one is going to allow that and construction-wise, it is usually not cost-feasible for the output rent on such a large property.

We have booked guests while finishing up the construction phase. 

It is widely recognized as a loss leader within the industry and those who are successful normally have a complimentary business such as a brokerage or a construction company that performs complimentary services.