Need a lender willing to leverage my property
I'm looking for a commercial loan. I own bare land worth about 300K. I would like to leverage that to buy some commercial real estate.
Any suggestions on lenders that might be willing to do that type of loan?
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Erik Estrada
#3 Mortgage Brokers & Lenders Contributor
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Hey Geoffrey,
You are better off selling the land, most lenders won't refinance just the land itself. And if they did, expect a very low LTV.
You could put better use of that $300,000 and splitting it into other investments.
- Erik Estrada
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