Loan amount
Loan type
As-Is Property Value
0% {LTV}
Property type
land development - 1 acre mixed use lots
Borrower Details
Credit score
Deal experience
150 deals
This loan scenario was submitted by a Broker
Property Details
Loan Details
Additional Loan Information
I have 20 acres I purchased 3 years ago and I want to subdivide the land into 18 one acre lots in Austin TX. Lots in the area are selling with less than 10 days on the market for $80,000. We need to pay off an existing hard money loan that matures and draw on funds to complete the project.
I have already installed 6" water lines in front of each of the lots.
I have already installed power poles to every lot.
I have installed a 26' wide road base driveway.

20 acres that are now 18 (1 acre) unzoned lots.
I need to pay off $330,000 and borrow another $250,000 to complete the subdivision.
Total loan $580,000

The 18 lots sell each for $80,000 = $1,440,000 in value.
County appraisal and comps are at $80k+

October 29, 2020 - 10:53am

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