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Updated over 5 years ago,
Searching for hard money
I am trying to put together a raw land deal. I am not completely new to real estate and have a fairly large portfolio. Have only done buy and hold up until this point. I am planning on moving into land development. I currently do excavation/forestry mulching/etc. I stumbled across a deal that I believe will be a very good “mini” development, to purchase, clean up, and subdivide a small parcel in the county. I paid cash to build my most recent house and am somewhat cash poor. I have good income and credit but at not wanting to go through a bank, partially because of time and partially because I want to make a cash offer on the place I’m looking at. The property is not a large property but it is very raw. This will basically be a flip on a raw property. Purchase, clear, clean up, improve, subdivide, sell.
My question is, how do I go about finding the right hard money lender for this kind of project?
Also, what are reasonable terms for something like this?