We are looking at purchasing a raw acreage tract and subdividing it into small lots and then selling the lots. I am having a hard time finding lending for this, as most are stating that they do not provide lending for land. Can someone point me in the right direction for this?
I would seek out local investors in your area and ask them who they are using as their portfolio lenders or your hard money lenders, though I wouldn't recommend a hard money lender.
This sounds like a banking deal rather than a mortgage. Check out some of the small builders in your area and ask them for banking recommendations. Who knows, they may also be interested in participating or buying a lot once you have the development done.
Good luck and good hunting!
Thanks, I will continue on that path.