Loan Options For Subdividing Riverfront Land
Hello friends! We found 78 acres of beautiful land in north GA on the Chattahoochee River. It has .6 miles of riverfront, shoals, springs, creeks, waterfalls, multiple access roads, cabins, barns, docks,etc. We have it under contract to purchase cash for $1,300,000 and only want to put $600,000 of our capital down and find a lender to loan us the $700,000. Our plan is to subdivide and sell off lots to pay off the loan and keep the rest for to develop as short term rentals or an event venue. What kind of loan options are available to do this?