[Jstarr]

Hard money lenders or " Private Lenders " dont have any interest in financing or collateralizing land because for two reasons,

1) the valuations are inflated both by the appraiser and Borrower.
2) if the deal goes south the probability of selling the land is considerably less -VS- if it had a structure on it, and most of the time when someone borrows against land they walk away from the deal. Trust me when i tell you we have about 35 Ac that we can't give away for 50% ltv, Nobody wants it.

On a side note for the brokers that are receiving Real Estate requests, you really need to understand the deal and what the borrower has and what they are expecting.

We will lend on almost anything if it makes sense and you just need to ask some simple questions

Refinance / or cash out

1) tell me about the property and do you have a mortgage on it, if so what is the balance ? and are you current ?
( is it a SFR, Multi Family, Commercial, Industrial, Warehouse, Mixed use etc.. )
2) What is it worth and how did you come to this conclusion?
3) Do you own any other real estate other than raw land? if so we need a REO list. and balances.
4) What rates and points are you expecting, (this isn't conventional financing so 4% and 2 points won't work)
5) We are asset based not credit driven but we need to know if they have any open BK's


Purchase

It's basically the same as above but if they are just getting into real estate investing the rates and points will be higher.

and please dont bring me a "Clown Deal" that is a deal where the buyer is looking to purchase a $2M property and they have $10,000 down. or someone that brings me a SFR transaction that's a purchase for $80k and they need $300k for rehab... these types of emails or calls won't be returned.

If you want to get into asset based lending i would be happy to fund almost anything that makes sense, if you dont know what to ask call me first and i will be glad to help.