Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

17
Posts
5
Votes
Mike Cox
  • Investor
  • Knoxville, TN
5
Votes |
17
Posts

Short Term Rental but No Access Deal

Mike Cox
  • Investor
  • Knoxville, TN
Posted

All,

I am looking at a FSBO property it has 2 honeymoon cabins that are short term rentals and almost 4 acres. It is in the mountains in a great location. I would rent it mostly but also use it to hike and fish out of. The owners live on the tract next to it and access it through this tract. It has road frontage on the other side of property. Bank said they won't loan on it with no access.

I told the sellers the bank won't loan with no access and they said they wanted a "deposit" for the full cost of building a driveway.  They previously got two quotes one 10K the other 16K for driveway.  The owners have a recent appraisal at 375K and selling price is 300K.   It sounds risky to pay for a driveway and then what if the loan doesn't close for some other reason.  Is there a good solution to this?  Any ideas?  

Mike

Loading replies...