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Updated almost 2 years ago on . Most recent reply

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Need a lender willing to leverage my property

Posted

I'm looking for a commercial loan. I own bare land worth about 300K. I would like to leverage that to buy some commercial real estate. 

Any suggestions on lenders that might be willing to do that type of loan?

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Erik Estrada
#1 Mortgage Brokers & Lenders Contributor
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Erik Estrada
#1 Mortgage Brokers & Lenders Contributor
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Replied
Quote from @Geoffrey Robinson:

I'm looking for a commercial loan. I own bare land worth about 300K. I would like to leverage that to buy some commercial real estate. 

Any suggestions on lenders that might be willing to do that type of loan?

 Hey Geoffrey, 

You are better off selling the land, most lenders won't refinance just the land itself. And if they did, expect a very low LTV.

You could put better use of that $300,000 and splitting it into other investments. 

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