Looking for ideas on financing a prime lot…to hold for several years…price only around 100K
What kind of institution offers these types of loans…I am assuming these are collateral loans?
If anyone can help please let me know.
Thank you…
What area are you in and what are parameters?
Most land loans are balloons for 3 or 5 years and you must either build on the lot or pay them off in full after that period and cannot refi. Also, you will probably have to put at least 20% down no matter what.
The land is in Southern California
Purchase land to build commercial building/ (possible mixed use depending on variances)
Not under contract currently