Posted by wes on June 30, 2005 at 08:46:10:
You have mail!
Best Regards,
Need financing for land dev in WI - Posted by Joanne
Posted by Joanne on June 23, 2005 at 09:44:51:
Are there hard money lenders who will lend on ARV for subdivision development projects? Any idea how much cash I’d need in the deal, %-wise?
Thanks!
Re: Need financing for land dev in WI - Posted by wes
Posted by wes on June 23, 2005 at 10:35:47:
Are you talking about constuction of homes also or just land development and lot sales.
For land purchase and lot sales (no construction), I know of investors that for the right project & speculator/developer, they will finance 100% of the purchase price and costs, for a 50/50 split of profit (or loss). Will even finance the monthly interest carry and closing costs in the loan amount.
Loan amount has to be $1,000,000 to $5,000,000.
New program, just got it a few days ago. Expect they will have more than they care to look at in a very short period of time.
Let me know if you think you have something that might fit.
Regards,
wesloans@earthlink.net
Re: Need financing for land dev in WI - Posted by Jack Cook
Posted by Jack Cook on June 28, 2005 at 19:45:31:
I have 175 acres, 35 mi. north of Tampa FL, located in Pasco County. The fastest growing county in Florida. The total project is $4,000,000. Currently zoned for 5 and 10 acre lots. Under current zoning, when all lots are sold, net proceeds after paybacks will be approximately 2.6 million. We are applying for rezoning for 1 acre lots. If 1 acre lots are approved, nets will increase to 10 million dollars. Total project is approximately 4.2 million. Let me know when you want to discuss the project. Thanks.