If the seller is insisting on a high price with not-so-hot financing terms, though, this may be a riskier project than it's worth.

Hi @Ashley C.I am local investor and have built several new construction projects here in Atlanta.

This is where I would start if I were you—perhaps leveraging one of your existing properties.As a last resort, you could look for a partner willing to fund the project in exchange for a share of the equity.

They are major BRRRR projects with the main exit strategy being to hold as medium term rentals.

your comment around "approvals will be easy to get" gives me pays if you've not done this type of project before, I understand your logic, and I don't know your local municipality but it always seems to me that no matter how easy we think a project or approval is going to be, something always comes up.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000

Cash invested: $80,000

Checkout my Airbnb here: airbnb.com/h/madeirabeachoasis

Salt Water Pool & Hot ...

They are major BRRRR projects with the main exit strategy being to hold as medium term rentals.

This bodes well for long-term equity growth.Rising Rents: The uptick in rental prices shows a strong demand for rental properties and could lead to better cash flow for investors.Economic Strength: Reading has a diverse economy, with key sectors like manufacturing, healthcare, and education providing stability.Rental Demand: Low vacancy rates signal that people are actively renting in the area, which is essential for scalability.Future Development: Any upcoming infrastructure projects or new businesses could further boost the market.With these positive trends, it seems like Reading could be a scalable rental market.

In this scenario, you might even walk into equity when your project is completed. 

I use partnerships to help me fund my projects when it is hard to get financing.