You would only be able to do a rate/term refi, which is 85% max if this is a 2-unit, and 75% max if this is a 3 or 4-unit.This is the part where I tell you to align yourself with a rockstar loan officer who can help you see the future and not put you into a position to get stuck.  

This will help people connect with you after determining how their goals, services and resources align with yours.All the best to you on your journey!

When it comes to any 3rd party GC relationship the biggest challenge is alignment of interests.

That may be a better person to get aligned with due to my eventual investment goals.

If you are trying to get into new construction without prior experience I would align yourself with a trustworthy GC, Civil Engineer, Architect, and Permitting Atty; ideally with experience in the areas you are considering.

This of course is only if you have done your due diligence and you know there is demand to justify your numbers and it aligns with your long term goals.

Your interests have to align.

also could it be that returns on new origination is such that the smaller investors are just defaulting to those investment options and only those that really want to low ball are trying for the NPL route and all the work and intricacies involved with it. for example Peer st.. platform you can pop on and get a 7 to 10% return in one click basically. or aligned with other HML ers out there .. were returns are north of 10% I had the opposite experience when i thought I wanted to enter NPL back in 08 we cobbled 5 mil together to buy a tape in south WA N Oregon had the money in escrow and all the joker brokers and mandate this and mandate that etc etc it was just such BS the assets were real I went to them they had lock box codes got into them .. but then I would see them listed and sold while we were in escrow for the tape.. so granted I was not experienced at all in this arena and after 45 days of our cash sitting there we pulled the plug . 

but for sure most people looking for cash flow notes need just skip over the non performing and bad debt and or trying to find owner occ and just align with a good HML this business has been going on for decades I started in it in Oakland in the mid 80s and Jack Langer who owned it started in the late 40s.. tried and true business model return could be a tad lower but FAR safer than defaulted paper and much easier to manage and actaully scale.. then you can do your own loans in states that do no require licenses.. 

From there, you can establish a budget and use this budget to align your finances with your strategy.