Financing Terms On Package Of Lots?

[Paul Ritkouski]

Hi,

I am interested in buying a package of residential lots (between 5 and 10 lots) in an existing subdivision near a ski area.

Could someone provide some general guidelines for what I could expect for financing terms? I am guessing it would have to be private investor funding. What terms are possible/reasonable? (interest rate, term, baloon, LTV, lender participation in upside, etc.).

Some details:
- 1 acre lots
- lots selling around $30,000
- lots in neighboring subdivision sell for much more than $30,000
- sales history shows brisk sales over past two years and steady appreciation

Given the current situation with real estate lending, I don't know if securing financing for such a situation is even possible, but if you have done something like this in the past, I would really appreciate your thoughts and wisdom!