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Updated about 6 years ago,
Loan for large acreage land
I am in negotiations for a large, 264 acres, of timber land that I plan to divide up and sell 20 ac lots. Located in Washington state, near Wenatchee / Leavenworth area. I have called a total of 5 local banks/credit unions and none of them lend on large acres. Regardless of what it is used for. I'm still waiting to hear back from 3 others but I'm not holding my breath. Do any BP members know of anyone that would be even willing to consider loaning on this kind of property? I've got a basic pro forma that shows the numbers work great but so far no one is even willing to talk term and rates let a lone hard numbers.