[Fundyman]

Property is currently approved for subdivision into 55 units.
1st lien amount on property: $240,000 to be paid off (of course)
Property is 149 acres. Borrower also wants to purchase 50 acres next to his.

Who knows a lender who does raw land deals without any of the nonsense?
(Just as long as appraised values come in correct, they'll do the loan.)

I need that lender ASAP, please.

[omegafund]

Land is not easy. We have successfully arranged land loan on raw land but they were entitled and zoned for building. 149 acres unlikely unless he has other collateral.
IS the land entitled and zoned for development.? What is the value of the land and how much did he purchase it for?
Most lenders will have lots of questions for land unless you want 25% LTV..

[Big Mack]

I can't imagine anyone taking a second position on raw land.

[Fundyman]

I can't imagine anyone taking a second position on raw land.

All edits have been made. Of course, this is 1st position loan request!

[kcalderonwbl]

WBL lends on raw land. Feel free to give me a call if you want to discuss.

Kcalderon@wbl.com
212-220-3895

[Mynameisbob]

Try Patchofland.com

[Fundyman]

Try Patchofland.com

I had the worst experience with Patchofland a few years back, but who knows...? Really looking for a No-Income lender..

[rdgllc]

I had the worst experience with Patchofland a few years back, but who knows...? Really looking for a No-Income lender..

I sometimes feel that the real estate/hard money space is even more screwed up than MCA. I just had a nightmare experience with another real estate financing company similar to POL. At least with MCA, we don't have to wait 30-45 days for it all to go up in flames. lol