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Land Lenders. I want to possibly borrow against the land to flip
Hey BP,
I have a quick question. I've posted about the vacant land we own outright a few times already.
My question is, what is the possibility of getting a loan against the land we own to fund a flip?
I wanted to present our goal for borrowing against the land. Which would be to borrow the money to fund 1-3 residential flips, in order to pay back the loan and then have more capital to then actually build on the land starting early spring of next year.
Would this be a good idea or even possible? I've read about "Land Lenders", I don't know how they operate or what they look for. Our land isn't in the middle of nowhere there are multiple residences surrounding and new construction projects happening right now. So I know there's value there, I'm just thinking of creative financing ideas.