Making Offers Before Private Money for Land Development

[Rocksford Green]

I was told that usually Private Money is not available for land acquisition for subsequent development. One exception is that some private money lenders will cross collateralize several properties. Then that money can be used to purchase land. My question is, how do I go about making multiple offers and incur these obligations before I secure the private money?

I feel like I am missing a step somewhere here. Any feedback is appreciated as I am a newbie.

Thanks All

[Don Konipol]

What you're proposing MAY have worked 2 years ago. Lending is very strict now. On property acquisition you will need a large amount of your own capital, fully finished development plans, all permits in place and experience in doing the exact type of deal you are proposing. Further, the serial propery equity loans are a fantasy, non existent. If you own 3 or 4 properties free and clear, we might take a first lien on them to finance the purchase of a new property. I would tell you to get some experience working with an established developer first but most are shutting down and going out of busienss.