Hello. I am interested in purchasing a vacant lot and holding it for appreciation. Currently my financial situation does not allow me to purchase the lot for cash. Is anyone familiar with lenders that make loans on vacant lots?
@Calvin Wellington Check with local banks or credit unions that may be familiar with the property. I did a land purchase some years back and the national banks wouldn't touch it. I was able to work with a local bank and it was 50% down, FYI.
Also check with the seller to see if they'll offer seller financing. In my area, that's pretty common for land.
@Tom S. Thanks for the ideas!