The 16 unit is in a developing area and the other two are right inside trendy areas.

He says there is a 'new' sub division around the lot, near the front entrance of the gold course, but zillow is showing the newest house built around this area is 2015; time is apparently relevant.It might still be worth the effort to contact one or two of the major developers in the area to gauge any interest.

Maybe even identify the state in the subject line for better results. 

You want to know the going rate of what's hitting your market and this will help you identify what's a good deal, because you have seen what homes are going for. 

One, since you brought it up, is the ability to find properties cheap enough (which requires a big skill in either negotiating or identifying deals others don't notice) that you can put the money into the rehab and your margins and the total price to the investor not be more than what it can appraise for.

It's either in a bad part of town or in a far suburb still in development. 

Getting great ideas for process management and developing ways to apply them to my integration business.

Do I have to have another property / deal identified prior to cashing out and tell the lender where the money will be going?

@Joel UbieraMost portfolio lenders do not deal with construction loan type project unless for larger development deals. 

Hello BP Members, I was looking for development property within Texas.