Results 1 to 8 of 8
-
10-17-2023, 11:43 AM #1Senior Member
Reputation points: 3942
- Join Date
- Sep 2021
- Posts
- 190
Raw Land
I have a client that has raw land that he owns free and clear, paid $150K for it, anyone can handle this? He's looking for 100K.
-
10-17-2023, 11:47 AM #2Senior Member
Reputation points: 16709
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 726
Location would be helpful
-
10-17-2023, 11:52 AM #3Senior Member
Reputation points: 72398
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,244
50% LTV max land and doubtful that many lenders would be interested. I have a few but that would suggest $75,000 loan amount. And is it cleared or is it bushes and trees?
Lender will look at it for liquidity....if owner defaults, how quickly can the lender sell the land and recover their loan balance?
And Zoning...Ag, Rural, or ?Last edited by Olderguy; 10-17-2023 at 11:59 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
-
10-17-2023, 12:07 PM #4Senior Member
Reputation points: 72398
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,244
Get me this:
Borrower:
Property Address:
Property Type:
Loan Type: PURCHASE / REHAB / REFINANCE
Loan amount Requested:
If Refinance - Purchase Price / Purchase Date / Mortgage Balance
Purchase Price / Market Value:
Rehab Costs:
LTV Requested:
ARV Requested:
Credit:
Experience:
Property Details:Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
-
10-17-2023, 01:58 PM #5Senior Member
Reputation points: 3942
- Join Date
- Sep 2021
- Posts
- 190
Ft Myers Florida
Originally Posted by omegafund
-
10-17-2023, 03:36 PM #6Senior Member
Reputation points: 16709
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 726
I have investors the fund land in FL but missed that it was only 100k. our min would be 350k. Try a local bank or credit union should be easy deal for local lender Originally Posted by FunderFunding
-
10-17-2023, 03:42 PM #7Senior Member
Reputation points: 122949
- Join Date
- Nov 2018
- Location
- South Florida
- Posts
- 741
Local banks are your best bet, helps boost CRA rating.
The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
-
10-19-2023, 03:58 PM #8Senior Member
Reputation points: 39493
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 472
Oh... this is my area! Call me. 239-234-2727. Steven O. Ruiz Originally Posted by FunderFunding
Reply With Quote
Similar Threads
-
bridge loan needed 3.5 for land and development of land.
By makessensethendoit in forum Business LoansReplies: 3Last Post: 01-14-2022, 01:18 PM -
Looking for funder for raw land Not WBL
By Amiran5 in forum Deal BinReplies: 5Last Post: 08-10-2019, 05:40 AM -
Land Loan
By JVD6905 in forum Deal BinReplies: 2Last Post: 04-24-2019, 02:44 PM -
raw land
By Sachip24 in forum Deal BinReplies: 2Last Post: 07-19-2018, 12:10 PM -
raw land/
By biggr in forum Deal BinReplies: 4Last Post: 11-08-2017, 01:05 PM
