cash out - Posted by AJ

Posted by John Corey on September 25, 2006 at 19:39:20:


This is likely going to be tough and 65% LTV might be too high.

What sort of land is this? Farmland that is actively farmed or a bunch of trees, etc?

Have you asked local lenders as they sometimes are better with raw land or farms, etc. They tend to know the local market and have a sense of what is reasonable.

You might do better by selling than trying to get a loan. Least dead equity even after the transaction costs. I am not saying that you should sell. Just that raw land is not a lenders dream.

John Corey

cash out - Posted by AJ

Posted by AJ on September 24, 2006 at 20:36:05:

I have 20 residential acres in central ohio appraised @ 270k, Where can I find a lender for a quick cashout for short-term? I am willing to accept 65% LTV

Re: cash out - Posted by Chris

Posted by Chris on September 26, 2006 at 07:50:13:

If it’s wooded you could sell the lumber for some serious cash. You could probably net $200k if it’s dense.