Posted by Kurt Schultz on September 22, 2006 at 15:47:56:
That’s going to be kind of hard.
All of the lenders I deal with (if they do raw land deals at all) have a 50% LTV limit.
Land Purchase for Development - Posted by Jerry Sako
Posted by Jerry Sako on September 19, 2006 at 23:55:42:
Need 100% LTV hard money funds to purchase 14 acre property (appraisal $603,000)zoned "dense development (7 to >15 residencial units per acre). Loan for $600,000 purchase price for short term (1 year) and planned construction of 40-4plex buildings. Sales of units will repay 1st and 2nd liens in 1st and 2nd years. Project located in fast growing copper mining community in Arizona [new startup copper mine being built now]. Community lacks affordable housing for 800 new employees plus support services growth. Very secure land acquisition since values are increasing rapidly for anything related to the affordable housing market.