Vacant Lot Creative Lending Inquiry

[Hugo Cam]

Hello BP,

I'm looking for creative ways to fund a project my parents and I are looking to purchase. This lot contains a couple acres middle of town for 500K. We have 20% down and a current home with equity that can be used as collateral selling about 320K. I'm an engineer with good income and fair credit.

Where it gets intricate...the vacant lot happens to have a small residential home (1000sqft, 2-1) and horse boarding stalls, however this is not found on title report. Property is generating income, but regular conventional loans do not recognize the home nor the income being generated. Currently there exist 50 stalls with 25 horses boarding for $300/month. This lot has plenty of history as this has been like this for more than 10years! County recognizes this lot as agriculture/ vacant lot.

I would like to avoid hardmoney due to the high interest and upfront cost unless a sound exit strategy can be provided...

nonetheless, we have reached out to local lenders and it gets rough to provide the 40% the typical land lot loans request which is why I'm looking for alternatives, if you know someone who can help me get creative, feel free to send me their line, thank you in advance.