who finances bare commercial land?

2 Replies

Tried owner finance and the terms were crummy.

Tried wells fargo and they want me to take a construction loan as well.

Are there reasonable options to finance a commercial lot? I plan to use some cash I have saved to slowly build out the lot as a site for my business while renting the back half to an associates business. Im looking for a lender with reasonable terms (20 year am rate, less than 8% interest and 70% LTV).

@Jason K.

You need to go to a commercial lender. Usually I believe it’s more like min 50% down. And they usually don’t lend on small land values, I think less than $100k or more...

Originally posted by @Jason K. :

Tried owner finance and the terms were crummy.

Tried wells fargo and they want me to take a construction loan as well.

Are there reasonable options to finance a commercial lot? I plan to use some cash I have saved to slowly build out the lot as a site for my business while renting the back half to an associates business. Im looking for a lender with reasonable terms (20 year am rate, less than 8% interest and 70% LTV).

Check with several local and regional banks. They are all different and offer different types of loans, rates and terms.