lot loans

Financing, Hard Money Lenders, Private Money
1

any lenders or any one knows of a lender that do vacant lot loans for investors/short term ,i will sell some and keep most of them to build on them by next year.

i bought (14) vacant lots in the chicago area from an auction very cheap for around $216000.00 including buyer premium the lots wort app $ 420000.00-450000.00.
i’m willing to put down $80000.00-$90000.00 down payment
and need to bowrrow the rest for 126000.00-136000.00
any suggestions
i have a very good credit and a good income but the debt to ratio is high

2

We do lot loans. What state are the lots in? how long do you plan on holding the lots? and exactly how high is your dti?

All in all, it seems like a very workable loan.

3
i bought (14) vacant lots in the chicago area
We do lot loans. What state are the lots in?

I am guessing that they are in Illinois!? ::slight_smile: Sorry, hate to state the obvious.

Are you trying to get one loan or individual loans?

4

Did the “i bought (14) vacant lots in the chicago area” tip you off, Mark or are you just psychic this morning?

Keith

5

I would like to believe that I am psychic. However, I would need a litlle more than coffee in my cup to get me there today. Have been sick (physically) all weekend. It is the governments controlled release of the Asian Flu. ::slight_smile:

I just had to chuckle when I saw BLUEPRINTS1971 ask that question.