Loan amount
$0
Loan type
As-Is Property Value
$300,000
LTV
0%
{LTV}
Property type
Land for future 2nd home
Borrower Details
Credit score
650
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Alaska
Loan Details
Additional Loan Information
I have an opportunity to buy 5 acres for 200k (the seller will sell me an adjoining 20 acres for 50k). So the ask is to borrow 250k for 25 acres.... it’s worth $300k plus. We were up there a few weeks ago and walked the property - It’s outside of Wasilla. We are UC with the sellers and close Dec 4.
Please advise - as I’m trying to find private money to get the property, sit on it for a few years and then refinance it, then pay you back when we go to build on it. Could parcel some land off too. I’m an insurance exec and entrepreneur from AZ, I’m a low risk borrower and the loan would be highly secured by the amazing land.
Thx,
Nate
Please advise - as I’m trying to find private money to get the property, sit on it for a few years and then refinance it, then pay you back when we go to build on it. Could parcel some land off too. I’m an insurance exec and entrepreneur from AZ, I’m a low risk borrower and the loan would be highly secured by the amazing land.
Thx,
Nate
Status
Closed
Created
November 8, 2020 - 4:31pm
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