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Updated over 2 years ago,
Vacant lot financing - future new development
Hey BP! So i am in a little bit of a pickle now and welcome any insight/solution to this.
I currently have land loans on the vacant lots which are coming due. I would like to refinance these lots to hold for another year. During the year I will pull lots out one at a time to stagger the start of construction. I over estimated myself and thought I would be able to handle all 3 at once but I figured that would not be a smart move. So I am in search for a lender who can refinance these lots currently and potential fund the ground up as well when the time comes. All the lots have permits ready to go from the city. I am finishing up a few other projects so I am wanting to wait to start these but time is what I do not have which is why - refinance comes to mind.
TIA