I am an equity partner on 52 acres of raw land in Southern, Ca. There is a note on title that is due. I need to restructure the debt so that I can pay off the note and add value by rezoning and possibly take it to tentative mapping depending on cost. I know a bank will not finance this. Any ideas on hard money lenders? I put an ad out for investors but did not get a good response. The property is currently worth about 300k. Rezoning should easily double the value. Any feedback and/or leads would be greatly appreciated.
possibly doable at 50% ltv. depends on the other aspects on the file.
that will be difficult now, i would go back to the bank you have it financed at now and just ask to extend the loan. I have saw that a lot lately
What is the amount of note due? How much are you asking?