Some Texas Land Loan highlights:
Consider a blended debt and equity loan- Are you short on equity ? consider a loan of 65% of completed value (regardless of your equity contribution) can be used for construction as well.
Loan for development & entitlements
cross with other properties (does not have to be land)
Non recourse available
Small loans (lot loans from 75k )
Nationwide lending available
The property should have upside and our loan is used to bridge the time (6 months to 5 years) until the property can be sold as developed or refinanced with some construction loan or longer term loan. These are Bridge loans for debt and equity.
Sponsors should have short summary of transaction and a defined exit strategy. Loans for purchase, refinance, infrastrucuture development, more..
recent land loan closings in Texas
1.1 million bridge loan in N Texas
500k land loan for development in DFW
700k Cash for development in Houston
2 million purchase money - cross collateral of several properties in Texas - DFW
Several lots for residential builders in Texas - Lot acquisition loans (Ask about our Hard Money New Construction Loan)
1 million for resort lots
We like Central Texas and Hill Country (San Antonio area,Austin , Boerne to Fredericksburg,
North Texas (DFW area - Dallas ,Fort Worth, Frisco, and surrounding suburbs)
South Texas , Corpus to Harlingen- Brownsville
Other states considered if in growth and rebound area
close in 7 days for hard money is possible
Hard money is expensive ,but a lot less than a partner
loans for subdivisions (Texas and growing 1st and 2nd tier markets