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  1. #1
    Banned Reputation points: 19
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    Who do Hard Money on Land

    We have a borrower with beautiful Pristine 91 acre parcel in Athens NY 12015 , you can see the parcel on his website( I will provide it if you are interested) He have the property for sale and have several interested buyers . Presently he is seeking a $1.000,000 loan for 2 reasons the 1st $400,000 will pay off his mortgage and give you a 1st position and the balance will be used to continue a subdivision of 9 of the 91 acres into 18 prime building lots with a value of $60,000 to $75,000 each the LTV will be between 16% and 30% . The Property is owned by one of his development companies . Let me know your thoughts when you have time .

  2. #2
    What is the current "As is" value of the land?

    Tom Harrier
    Integrity Commercial Loans, LLC
    407-928-8542
    broker@tomharrier.net

  3. #3
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
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    South Florida
    Posts
    838

    Normandy
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  4. #4
    Senior Member Reputation points: 3229
    Join Date
    Jul 2017
    Posts
    105

    Quote Originally Posted by Creative Lender View Post
    We have a borrower with beautiful Pristine 91 acre parcel in Athens NY 12015 , you can see the parcel on his website( I will provide it if you are interested) He have the property for sale and have several interested buyers . Presently he is seeking a $1.000,000 loan for 2 reasons the 1st $400,000 will pay off his mortgage and give you a 1st position and the balance will be used to continue a subdivision of 9 of the 91 acres into 18 prime building lots with a value of $60,000 to $75,000 each the LTV will be between 16% and 30% . The Property is owned by one of his development companies . Let me know your thoughts when you have time .

    Try SCA Funding Solutions
    Direct Funder | MCA | Public Companies | Convertible Notes | Hard Money
    D. 516-667-6817
    paul@coolidgecapital.com

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