Posted by Kurt Schultz on October 23, 2006 at 10:34:57:
That’s outside of my area of operations.
I sure hope it goes well for you, sounds like a worthwhile project.
creative financing - Posted by Jeff
Posted by Jeff on October 20, 2006 at 09:54:26:
I am looking at a farmhouse with 87 acres. The farm has gas royalities which transfer. The current owner is 87 years old and has owned the property since 1951. My intentions is to purchase the property, rehab the farm house, split the 87 acres in to 3-5 acre lots giving the old farm house 3 acres. Then reselling the farm house and selling off most if not all the remaining lots.
I am pretty sure I can get the current owner to take a second mortgage on the down payment. What I am looking for is financing to cover the split and road until the lots start selling.
Asking price $350,000
Re: creative financing - Posted by Kurt Schultz
Posted by Kurt Schultz on October 20, 2006 at 15:56:09:
I would have to know what state the project is located in before I’d consider it.
Re: creative financing - Posted by Jeff
Posted by Jeff on October 23, 2006 at 07:05:18:
Northern Ohio approximatley 7 miles SE of Kent Oh (Kent ST University)