Completed Value of  Modular Home $350,000

Cost for Home and Improvements $212,000 or less

Cost for Land $60,000 (6 Lots) (Expected Appraised Value $120,000)

$222,000 is 63% (Loan to Value)

Potential Equity on Each Home is $128,000 if no realtor is needed or it goes down to $107,000

There is a contract in place for the land purchase. Also with the modular home provider/builder.