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All Forum Posts by: Jennifer Hoops

Jennifer Hoops has started 2 posts and replied 2 times.

Creative Real Estate Financing

Post: Advice on lot split funding

Jennifer HoopsPosted
  • Posts 4
  • Votes 1

Is it possible to get a loan to assist in splitting a lot off a property I already own? I have 14 acres and will be splitting to create a new 3 acre lot. If I borrow about $20,000 for the split and improvements, lot will be worth about $65,000. I already own the property. Is this possible? 

0 Votes
Cleveland, Ohio
Creative Real Estate Financing

Post: Looking for hard money loan advice

Jennifer HoopsPosted
  • Posts 4
  • Votes 1

I am looking for someone that offers hard money loans on owner occupied properties for a 2nd lien position. I am looking for a $340,000 loan on our property valued at $1,100,000. I am willing to pay a high interest rate with a balloon payment due in 24 months. There is a first lien holder position for $616,000.  Any advice is appreciated.

1 Vote
Cleveland, Ohio