I considered a construction loan as well on some tear downs up here. But after researching what it takes and how the loans work and how you get them and all the particulars (not to mention the hassels with the construction itself), I decided it would take far too long, with too much risk. Instead, I would rather buy a fixer upper I can improve over time with cash, rather than financing.

Raw land construction loans were even more risky to me after looking into it.