Thanks @Paolo Nascimbeni and @Russell Brazil. I bought it exactly for where it is. Not as expensive and the development spill is inevitable, it may take a while though.

I dont know anyone who loans against land unfortunately. If the land was further west I may have known a potential buyer, but I think on the east side it may be a harder sell.

PS If you search for "raw land loan" you should be able to find some info.

As far as I know they do not give home equity lines even on fully build homes unless it is your primary residence. I did manage to buy in cash however ( using my home equity line ) and then was able to refinance after the property was fixed up to lender standards. When I asked maybe 10 years ago they would give a mortgage on a land as long as we had a plan to build a house within a year with an approved contractor but I am not sure the guideline are still the same.

What area of Rockville is it in?

Check with the banks local to the property. They'll have the best solution for you. Yes, there are cash-out land loans available through institutional money.

Followed Discussions Followed Categories Followed People Followed Locations

Private Lending & Conventional Mortgage Advice

Market News & Data

Market Trends & Data

Buying & Selling Real Estate

Out of State Investing

Real Estate News & Current Events

Real Estate Technology

Investor Mindset

General Info

General Real Estate Investing

BiggerPockets Exclusive PRO Area

PRO

BPCON

New Member Introductions

Questions About BiggerPockets & Official Site Announcements

Off Topic

Starting Out

Real Estate Success Stories

Real Estate Horror Stories

Real Estate Strategies

House Hacking

BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Commercial Real Estate Investing

Mobile Home Park Investing

Innovative Strategies

Multi-Family and Apartment Investing

Land & New Construction

Wholesaling

Rehabbing & House Flipping

Short-Term & Vacation Rental Discussions presented by

Tax Liens & Mortgage Notes

Medium-Term Rentals

Buying & Selling Small Businesses

Outdoor Hospitality

Landlording & Rental Properties

General Landlording & Rental Properties

Managing Your Property

Marketing Your Property

Tenant Screening

First-Time Home Buyer

Real Estate Professionals

Mortgage Brokers & Lenders

Contractors

Real Estate Agent

Financial, Tax, & Legal

Personal Finance

Creative Real Estate Financing presented by

Insurance

Private Lending & Conventional Mortgage Advice

Tax, SDIRAs & Cost Segregation presented by

Foreclosures

1031 Exchanges presented by

Goals, Business Plans & Entities

Legal & Legislation

Real Estate Classifieds

Classifieds

Real Estate Events & Meetups

Reviews & Feedback

Ask About A Real Estate Company

Real Estate Deal Analysis & Advice

Guru, Book, & Course Reviews

Syndications & Passive Real Estate Investing

Updated about 9 years ago on 02/10/2016. Most recent reply

18
Posts: 15
Votes

Ty MarPoster

Investor
Bethesda, MD

Private Lending & Conventional Mortgage Advice

Land equity?

Ty MarPoster

Investor
Bethesda, MD

Posted February 09, 2016 17:40

I have lot in Rockville, MD that's paid off. I don't think there's such thing as land equity loan is there? Can i get credit using the lot as the collateral?

0 Votes

7 Replies

Jump to Last Reply

Land equity?

Most Popular Reply