Private Lending & Conventional Mortgage Advice

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David Torreggiani
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Loan for lots? What is the best option?

David Torreggiani
Posted May 23 2022, 10:53

Hello,

I have a potential deal coming up soon. 3 lots (half acre) with a house that will need to be demolished.

Was thinking of clearing the lot and flip. I am not sure what/if this type of deal can qualify for a loan.

I was considering hard money, but wanted to get some input from you pros on what would you do.

We're talking less than 200k.

David

Houston, Texas

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Ned Carey
  • Investor
  • Baltimore, MD
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied May 23 2022, 18:59

@David Torreggiani this is not my field of expertise but I have heard it said regularly that loan to value of land is about 50%