looking for a creative loan

[Ben Gradert]

I have identified a property with significant value, but its purchase is complicated. I am seeking a private loan to facilitate the process. The property is being sold as raw land below its tax-assessed value. The sale price is $375,000, while the tax-assessed value is $535,000. Another appealing aspect of this property is that it includes a house currently occupied by an older couple.

One major issue is that the house and the neighboring property share a well. However, the seller have agreed to disconnect the well upon sale. This situation makes most traditional loans not viable. The plan is to make a quick purchase and refinance, installing a new well. The anticipated value after these improvements is estimated to be between $550,000 and $650,000.

I only have enough cash to put down 10% if you know of a lender or private money investor who would be a good fit please reach out to me directly or comment below.

This will be my 4th BRRR property.

[Erik Estrada]

Hey Ben, 

My initial question is how is the property being sold as raw land, if there is an existing structure on it? Is the house un permitted?