Hard Money Loan on Land Dev?

Looking for hard money loan on a raw land development deal in mentone, ca.
Status of Project so far:

  1. Purchase price is 3.2M
  2. Required Amount is 2.8M
  3. In contract w/ 25K down
  4. Project is located in a very exclusive part of California (Inland Empire)
  5. Currently, 2 Public Builders are expressing extreme interest in the Tentative Tract Map
  6. Proceeds of the Loan will be used to obtain a Tentative Tract Map
  7. 37 Acre Project
  8. Tentative Tract Map will have 40 lots

Any takers?

For raw land, the most you will get in hard money is 50 - 60% of the current appraised value of the land.

Patti Porter

what are your requirements?

:stuck_out_tongue: