Results 1 to 1 of 1
-
05-31-2018, 11:33 AM #1
- Join Date
- Jul 2015
- Posts
- 120
Raw Land Deal ANY TAKERS
I know most aren't fans of Raw Land. However I have a merchant who is a developer looking to do a refi Cashout about 400k of his existing mortgage and use collateral of 18 acres of Parcel Land.
He has the land completely ready for development.
He has already had a wet land delineation done.
He has a 12" main water going through the whole land
He has a 6" gas going the the whole land.
Has a full Sanitary Sewer running the the whole 18 acres
The land is currently appraised at 750k, and his currently mortgage is less than 325k.
He is looking for an interest only loan, until he sells the land, which is already being pursued for a residential development of about 13 lots, all selling for around 150k per lot, Even better this parcel of land, that he wants to refinance is located 7 miles from where they are building the New MGM Casino in Connecticut
Think you can do anything with this file and if so, what do you need me to collect in terms of Documents
Thanks
BrentBrent Goggins
Business Credit Consultants
ISO Relations Manager
Direct: 518-776-7501
Email: BrentG@bccusa.com
Similar Threads
-
Texas Commercial Land Deal
By BTI in forum All Other LendingReplies: 4Last Post: 03-27-2017, 06:26 PM -
North Dakota Land Deal
By Carminooch in forum All Other LendingReplies: 1Last Post: 03-13-2017, 03:12 PM -
Tough deal. Any takers?
By dskg1982 in forum Deal BinReplies: 6Last Post: 12-07-2016, 06:57 PM -
625k Land Deal
By rmckellar in forum Deal BinReplies: 4Last Post: 11-11-2015, 04:29 PM -
Land deal
By Crdeals in forum All Other LendingReplies: 2Last Post: 05-21-2015, 12:12 PM