[Fundyman]

I need a lender who can refinance raw land @ 60% LTV without asking the annoying questions.
There is a 1st lien balance of approx. $600,000 & the rest of the funds will be used for development (construction).

No plans yet (NO DAMN MONEY YET!)
Nothing is dug up yet. This is stage 1 of the damn project. I need a damn HARD MONEY LENDER @ 60% LTV. Where the hell are they at???

People pretend they wanna lend, but then want to lend in the perfect scenario, not going higher than 35% LTV. I need a damn hard money lender!

Need one in NY, Upstate. The construction will be for apartment complex units. Some of the funds (about $300,000) for general expenses.

Please give me the lender's name who can do this without the nonsense.

[Big Mack]

I know a lot of hard money lenders, but can't think of anyone that would take a 2nd position on raw land, especially at 60% LTV.

[Fundyman]

I know a lot of hard money lenders, but can't think of anyone that would take a 2nd position on raw land, especially at 60% LTV.

1st position, dude. The 1st is OBVIOUSLY to be paid off. I've been in the industry long enough to know ain't nobody in their right mind ready to take a 2nd position in random non-income-producing real estate. I need 1st position hard money lender on raw land.

It's suitable to build 55 units on it. The borrower knows the seller of the 200 acres he wants to purchase; plans to purchase it cash.
He is willing to put additional properties up for collateral.

[WhoisKingsley]

1st position, dude. The 1st is OBVIOUSLY to be paid off. I've been in the industry long enough to know ain't nobody in their right mind ready to take a 2nd position in random non-income-producing real estate. I need 1st position hard money lender on raw land.

It's suitable to build 55 units on it. The borrower knows the seller of the 200 acres he wants to purchase; plans to purchase it cash.
He is willing to put additional properties up for collateral.

WBL can do 100% on raw land free and clear only. Just found that out yesterday. shrugs*

PM me

[Big Mack]

My point was that they would only work with land that is currently free & clear and won’t touch anything with an existing mortgage or lien.

[Big Mack]

WBL can do 100% on raw land free and clear only. Just found that out yesterday. shrugs*

PM me

Wouldn’t the owner need to have business revenue to pay for the loan?

[WhoisKingsley]

Wouldn’t the owner need to have business revenue to pay for the loan?

HE doesnt want all the "annoying questions" let him figure it out on his own

[omegafund]

LOL wants over $1M on raw land but does not want annoying questions. If has has over $2M of equity in other properties that is might be doable but he will still have lots of questions.

[Big Mack]

I'm still amazed that 15 people didn't post that they "do this all day long"