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Thread: Land finance

  1. #21
    Join Date
    Oct 2015
    Location
    Florence, SC
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    322

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    Quote Originally Posted by charlie horse View Post
    How do they act when the borrower is also the builder (licensed)..?
    Don’t know on that one. I’m on the commercial side but could get you in touch with someone that would have answers if you’d like.

  2. #22
    Join Date
    Aug 2011
    Posts
    542

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    Quote Originally Posted by KRT View Post
    You donít happen to know one of these said people do you? Maybe one with 800,000.00 to a mil laying around burning a hole in their pocket?
    Yeah- Had dinner with him Thursday night.
    Just sold his business and walked away with 33mil after all was said

  3. #23
    Join Date
    Nov 2006
    Location
    Lexington
    Posts
    9,064

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    Quote Originally Posted by PalmettoTrooper View Post
    Yeah- Had dinner with him Thursday night.
    Just sold his business and walked away with 33mil after all was said
    Wonder if he wants to lend me some money hmmmmmmmmmmmm


    Sent from my iPhone using Tapatalk

  4. #24
    Join Date
    Nov 2007
    Location
    Greenville
    Posts
    3,172

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    Quote Originally Posted by b35w View Post
    Negative. I have some good equity in my house. May look at a HELOC if I have to.


    Sent from my iPhone using Tapatalk
    Heloc can be a good bridge loan but youíre going to probably have a higher interest rate
    Carolina Counsel

  5. #25
    Join Date
    Dec 2010
    Posts
    17,521

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    Quote Originally Posted by PalmettoTrooper View Post
    Yeah- Had dinner with him Thursday night.
    Just sold his business and walked away with 33mil after all was said
    fact
    Meet Dick, Dick is a Climp5in fan...Ö..Don't be a Dick

  6. #26
    Join Date
    Mar 2002
    Location
    Florence
    Posts
    6,794

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    Use HELOC for downpayment 5.5%.

    Land bank for purchase.

    That should work if debt to income ratio covers the note.

    A construction perm will require plans, pricing and appraisal. That delay could cost you the property.
    Last edited by Duck Tape; 06-16-2019 at 10:12 AM.
    Either write things worth reading, or do things worth writing.

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