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Updated almost 10 years ago on . Most recent reply

User Stats

195
Posts
100
Votes
Jimmy Klein
  • Investor
  • Houston, TX
100
Votes |
195
Posts

Any commercial bankers out there?

Jimmy Klein
  • Investor
  • Houston, TX
Posted

I wanted to know about a future land development. I purchased cheap acreage located on a major road, very good location. About daily traffic count of 45,000 car. Purchased cost for each acre is 100k. It's only 5 months now and each acre is worth around 250k. I bought the acreage all cash. If I went to a bank and wanted to use land equity as my downpayment, will they value the new amount or just my purchase price?

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