Posted by Don Dion on June 16, 2005 at 17:24:51:
This is an easy one. First contact a local builder to discuss your plans and specs with him. Then go to this site: http://hcl.indymacbank.com/Consumers/B2C/default.asp?item=home
They will guide you from there. Good luck with your project.
how to take money out of land - Posted by Joe C.
Posted by Joe C. on June 15, 2005 at 22:35:53:
I own a canel front piece of land in florida, free and clear, it is worth 1 hundred thousand. What is the best way to get a house built on that property using it’s equity and no other money down.
Re: how to take money out of land - Posted by John Corey
Posted by John Corey on June 19, 2005 at 18:09:13:
You are asking about construction financing.
The lender needs to know the plans will work, the builder is
experienced, etc. The land’s value will provide some equity for the
construction loan. How much you need vs. what the lender will loan
against land is something to be discovered once you have some plans
to work with.
John Corey
Chelsea Private Equity LLC