I was told by a mortgage broker that he could work a deal where he could use the equity in a lot that i own in SW FL, as a downpayment to start building on that lot. Now I’ve only been on deed for about 2 weeks, and the lot is selling now for about $10-$20K more than I paid for it. Has anyone done this before? Does this sound feasible?
I don’t want to get taken for a ride. Thanks in advance for any feedback guys!