Using home equity to purchase Land

[Nicholas Garcia]

Hello all, Nick here.

Question is how do I successfully purchase Land in my state (MAINE) using equity from my first property - maybe using HELOC?

With housing in our market selling above asking price most times ending up in a bidding war with limited capital to invest, I am thinking about buying land and maybe sub dividing that land and building a Modular home on the plot. Does anyone have experience doing any of these things? What would be the best approach..

Would love any help/input! Thanks in advance - I appreciate your time.