@Gary Charlton   as others have stated a HML is about equity... and it sounds like you have an equity problem. the property is in Texas.. so your best bet is a lender closest to the asset.doubtful a Texas lender will use Florida Raw land as cross collateral . finding an equity partner is all you need to do.. and if your only off by 5% and your putting in 20% yourself this should be relativily easy as long as the property is a good one.

Cons are that it's not waterproof (so must stay indoors) and because you don't have the raw data, you can't control as many variables when creating time-lapse. 

We have done really well in the Eastern part of Southern California buying and selling raw land.You are not alone in your real estate ambition.

@Monica McLaurin  Other than the raw numbers, when I see 3 bedroom and 4 bedroom units some things come to mind.That is a lot of people living in one house. 

Here in the Mid-Atlantic Trenton-Philly area, and looking to close financing on a (1st time) raw land purchase w/ commercial development deal. 

So unless you are buying raw land TX is probably the place since you have to register here anyway. 

Construction costs for materials and labor is higher right now so repurposing older buildings at less per sq ft to build new makes sense in many cases.Find a land broker in your area to potentially give you a highest and best use opinion. 280k is steep right now for raw land of that size.

I can tell that this is a great opportunity but I've educated myself primarily in multifamily assets in rural areas so I know very little about single family homes and raw land.

Western CO has some challenges with developing raw land, but it is definitely high up on my bucket list.

Howdy,
I'm working on a video project that shows how a very ugly house has been turned into a beautiful house after a flip job.  Kinda like a Flip This House show type of video.  If you have such documentation of suc...