Charlotte NC agricultural/ vacant land loans

[Brian Sher]

In the Waxhaw NC area I am trying to buy a piece of property that has three separate parcels with three separate owners, gifted by the grandparent who recently passed away. Two of the parcels are vacant land with no utilities ran. The third parcel has a complete tear down house on it. My plan was to renovate the single family house and sub divide the other parcels. Possibly building in the future on the subdivided or selling as builder ready.

My question is how would you go about financing this purchase?

We could possibly get a, primary residence, conventional loan or a renovation loan for the first property with the house on it but the other two is where I’m stuck. My lender said possibly an agricultural loan(85%). Have any of you had any success with this type loan or have a great lender for this type of loan in the Charlotte area? Any other creative ways of financing?