You would probably have better luck getting a construction loan to build something on the land, and creating some equity that way.

I've been in the construction industry since i was a teenager and thats a long time ago.

It's a new construction.

Good afternoon everyone, I currently have new construction coming up where I am sourcing construction loan quotes from multiple lenders.

The first house is a 3/2 and the newly constructed house is a 2/1.  

Things that require security like this add financial risk because construction is like herding cats, And can be filled with time delays that mount up .This is something a more experienced operator might have known to look for, but still read and notate every contract before signing.Good Luck!

IThe detailed engineering approach from actual cost records, also called the “detailed cost approach” or “direct cost method”, uses cost information from contemporaneous construction and accounting records.

I have formed opinions on questions like:Do new construction homes or older/existing homes appreciate more?

Do you have potential land development/construction teams in place?

Currently, I'm focused on selling new construction duplexes in downtown Indianapolis, which offer great potential for long-term investment.While I'm still relatively new to the industry, I've found that consistency and reliability often trump the allure of high-risk, high-reward strategies.