Purchasing Land and Equity Loan

[Stephanie D.]

Thanks in advance to the wealth of knowledge from everyone.  I have an idea that I would like to get some thoughts on.

I am interested in purchasing a piece of land from a repository list. Most likely I will be taking out a loan towards this purchase.  After the purchase is complete, I plan to take out an equity loan on the property.  The equity loan will be used to fund another business idea.

Any thoughts on this?  Can someone give me some ideas of what I need to consider?

Regards,