Large Lot Hard Money/Private Lending Options

[Daniel Millner]

Hey I have a few properties I have had my eyes on that are 10 acres and up around Michigan. Each property has a house that needs to be fixed up before its usable as a rental. Issue is the hard money lender I used in the past (Lima One) does not allow lending on properties with more than 2 acres unless thats the norm for the area. 

The end goal is to make multiple small structures for STR and do some land improvement like adding a large pond/ small lake to the property.

I COULD put 25% down and go conventional but that takes out of the reserve funds I would rather have. 

Since I have only done VA/FHA/cash out loans is there a world where I could do 5-10% down conventional or possibly another hard money lender that takes the full scope of the project into consideration?

[Eric Boshart]

Sounds like you'll be needing to talk to a local hard money lender who understands the area really well. Most nationwide lending shops have pretty similar criteria because they use the secondary markets for financing, so looking for a balance sheet lender who can be flexible on criteria is key. I'm confident they're out there!