All Forum Posts by: Lynn Samatulski

By the way, forgive me for thinking you live in central Florida. 

What I'm thinking is the Hard money lender who by passes the regular things like credit scores. Dan Routh with All State Mortgage in Ocala, FL always gets hard money lenders. I refinanced my home through him with a hard money loan. Interest only. At the time I paid $1250ish on a $125k loan. Look him up. 

Hello, its been a year since this post of yours, but I would be happy to help if you haven't received any help since then. 

@CLAY LEHMAN my friend bought a lot and has it listed for sale with a builder. They agreed to list one of the models the builder can place in that lot, so the house is whats listed on the market. Only thing is that for construction to happen a buyer has to come with either cash or a construction loan. What are your thoughts on this, sir?

Hello, looking for different points of view on this. So a friend,realtor, purchased a vacant lot, USDA eligible for financing a construction loan. Realtor teamed up with builder to list one of their models on the lot. Therefore, the listing on the MLS is a specific model that is not under construction but rather listed as the house that can be constructed for the buyer.

What's limiting the seller and agent is that a construction loan or cash will be required for the buyer to begin construction. 

So, the lot is not being sold as land but as a house with no construction started. 

WHAT ARE YOUR THOUGHTS ?

I currently purchased a lot and fixing to work a deal on a spec home. 

Also, I have a contract on a home for long term rental income. 

If all goes well, I shall continue with the lot purchase and building plus trying to gain more properties for rental income. Shooting for 10 years and 10 properties. Good luck to you all.