Borrow money against acreage?

[Juan David Maldonado]

Hey, 

I own five acres of land valued at close to $30k according to the county tax office. My question is can I borrow money against the acreage to fund a flip for example then when the flip sells put the money back into acreage loan?? 

[Bill B.]

In MOST cases the tax office estimate means NOTHING. I wouldn’t sell any property I own for 25% more than the assed value, so MAYBE it’s worth more or less. 

On a home you can often borrow 70-80%  on vacant land it’s USUALLY 50-60%  

It’s going to be almost impossible to get a mortgage/heloc for an amount less than $50k. And if your estimate is right you’re talking about $15k to a max of $24k. 

You’d be way better off getting a Heloc against your primary or selling the land. If you have no equity and no desire to sell I’d say you probably have to save more before proceeding. After all. If you don’t want to sell.  You definitely don’t want to lose the land or your home outright if the flip goes wrong.