Hard Money Lenders/Vacant Land - Posted by JoeSoCal

import · August 7, 2003, 10:51pm

Posted by Brent_IL on August 08, 2003 at 21:47:34:

I’ve never met a private lender who actually lent money on raw land in anticipation of sub-dividing or appreciation. Too many variables. How about a commercial bank? I know that some lenders will make new construction loans paid out in draws if the land is subordinated to the construction loan. I guess it depends on what you intend to do with the land.

import · August 7, 2003, 10:51pm

Posted by JoeSoCal on August 07, 2003 at 22:51:34:

I am sure this has been discussed, but Ill post anyway. I am currently searching the archives, so I may find my answer…but I wanted to post before the West Coasters went to bed.

Anyway, how difficult is it to use a hard money lender to acquire vacant land?

I assume the LTV has to be really low. Would a hard money lender be open to lending money on some land if the LTV was in the 30-40% LTV range? Also, what sort of time could I expect or wait to get the funding?

Thanks for any help.

import · August 8, 2003, 10:11pm

land lending - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on August 08, 2003 at 22:11:15:

Joe–(CA)-----------

Institutional lenders will typically lend up to 50% on vacant land. I don’t know what private party lenders might do.

Good InvestingRon Starr****