Loan with Lake Lot as Collateral

[Brent Causey]

I own a lake lot outright that will appraise for around $50k. This lot is on a high demand lake and lots/houses are scarce, as most lots and homes never make it to market - they are sold through word of mouth. 

I am wanting to get my first rental and I want to use that $50k asset as collateral. What %of that $50k asset can I get in cash, as a general rule of thumb.