Results 1 to 9 of 9
-
05-27-2015, 09:45 AM #1
- Join Date
- Feb 2015
- Location
- Norwood, Massachusetts, United States
- Posts
- 13
Commercial Land Loan Needed 60-70% LTV based on appraisal $10M
Looking for a commercial land loan on a property worth approx $10M client would like 60-70% LTV based on appraisal and value of land only. The income does not support the loan and would need interest escrow most likely. Appraisal should be complete by Monday June 1st. we need to move quickly because of bank payment issues and tax liens. PM or reply
-
05-27-2015, 09:54 AM #2
- Join Date
- Feb 2015
- Location
- Norwood, Massachusetts, United States
- Posts
- 13
also, I've seen some posts for asset based lending on land. Would this be a possible avenue or commercial loan? how would an asset loan work in this situation? if at all?
-
05-27-2015, 11:21 AM #3
- Join Date
- Aug 2014
- Posts
- 72
We are primarily a commercial mortgage brokerage and I'm just going to give you some friendly advice here. Take it however you want it.
Most lenders, be it conventional or alternative, are going to heavily discount a land appraisal. Particularly if its a cash-out refinance. You can take the appraised value and lop off half of the value for lending purposes. Lenders don't want land as collateral.
Secondly, If the land is clear of any mortgage, I don't know any lender who is going to give someone 6-7 million dollars in cash for a non-income producing piece of land. That type of lending just doesn't exist
If the land has some sort of current use, it might warrant a further conversation but if it's raw just walk away.
-
05-27-2015, 12:46 PM #4
- Join Date
- Apr 2015
- Posts
- 188
Shoot me an email and talk nathaniel@instafundllc.com
-
06-25-2015, 02:46 PM #5
- Join Date
- Jun 2015
- Location
- San Diego, California
- Posts
- 40
Would be very surprised to hear if anyone funded a land loan with an LTV this much above 50%.
It seems that land loan investors are few and far between these days.
Jeff
North Coast Financial
northcoastfinancialinc.com
-
06-26-2015, 09:55 PM #6
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
We have funded millions of hard money land deals most are placed at 40% up to 60% smaller lots and under 1Million. For the dollar amount and most likely size of the land you would get 40%.
What is the state and land size acreage?
If he would entertain 40% fast closing contact me.
info@omegafund.com
Last edited by omegafund; 10-13-2015 at 02:51 PM.
-
10-01-2015, 11:57 PM #7
- Join Date
- Oct 2015
- Location
- Hartford, CT
- Posts
- 25
-
10-13-2015, 01:02 PM #8
- Join Date
- Oct 2015
- Posts
- 2
The guys at World Business Lenders could help out with this. They will go 70% LTV PM me ill send you a contact
-
10-13-2015, 01:08 PM #9
- Join Date
- Jun 2013
- Posts
- 195
Commercial Land Loan Needed 60-70% LTV based on appraisal $10M
What is the cash flow of the business like?
Chris Pepe
Vice President
World Business Lenders
Tel+ 1 212 293 8210
Similar Threads
-
2 deals: Title loans for Class 8 trucks Needed & yellow iron asset based loan needed
By love2fish in forum Deal BinReplies: 1Last Post: 03-03-2015, 09:37 AM -
Asset Based Loans on Land Parcels
By mca123 in forum Deal BinReplies: 3Last Post: 09-11-2014, 09:00 AM -
Asset Based Loans on Land Parcels
By mca123 in forum Deal BinReplies: 3Last Post: 09-10-2014, 03:58 PM -
Anyone Doing Asset Based Lending on Land?
By vmccapital.com in forum Merchant Cash AdvanceReplies: 6Last Post: 11-30-2013, 01:19 PM