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Updated 10 months ago, 02/04/2024
Financing for land leased properties
Hey everyone, I have several properties owned free and clear that I'm looking to pull cash out of and was all lined up with a lender who then backed out because the properties are land leased from the local water district. 60 yr leases with incremental increases that I can renew at the end of the 60 yr term. The lender was spooked by this, so trying to line up a new lender...any recommendations on how to navigate with existing lender or lenders in the area who know how to deal with this?
Thanks in advance!