Looking for short-term lender on major land purchase in KY

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Looking for short-term lender on major land purchase in KY

Foreclosure Specialist · Ridgewood, NJ · Member since 2016 · 9 posts · 1 vote

Seeking $12 million one-year loan to acquire mineral property in eastern KY. 88% LTV from land alone, not including high-value coal, timber and gas on property. All leases and permits in place. Current coal and timber contracts = 200% of loan amount. 3rd party appraisal, title insurance, environmental report and property survey have been completed. Near-equity return available to the lender.

Lender must be willing to expeditiously review dd docs and have funding available to close asap.

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  • Lender · Los Angeles, CA · Member since 2015 · 800 posts · 229 votes
    10y

    What is the zoning of the property and how many acres?

  • Foreclosure Specialist · Ridgewood, NJ · Member since 2016 · 9 posts · 1 vote
    10y

    Its roughly 20,000 acres and there are no zoning restrictions.

  • Property Manager · Orlando, FL · Member since 2015 · 257 posts · 58 votes
    10y

    @David McCarthy PM the project information!

  • Foreclosure Specialist · Ridgewood, NJ · Member since 2016 · 9 posts · 1 vote
    10y

    I sent the information to you, Isaac.  Since I am new to BiggerPockets, please let me know if you have not received it.

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