Advice on Buying Adjacent Property

[Khalid Suliman]

I own a fully paid off mixed-use property which is leased out at market rate. Recently, the vacant property next door went up for sale.

It’s in an opportunity zone with favorable zoning. And I’d expect owning two adjacent lots would grant advantages or flexibility in development.

So I’m interested in buying with a plan to stabilize it in the short-term and build up in the long-term.

For financing - I’m exploring if I can use the equity in my property (next door) to help finance the purchase with favorable terms.

Anyone have experience with this? 
General thoughts?