Profile picture for ColinDMaloney

What are the expenses involved in mortgaging a land in LA?

For eventual development...
  • July 09 2013 - Highland Park
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Answers (2)

Profile picture for ColinDMaloney
email me at calleponiente@yahoo.com

I am now very interested in "Elephant Hill." It resides on the Southern border of South Pasadena, with I guess Hermon to the left. Why has no one developed/ built on it? Are the parcels for sale? Who owns them? How much are they? What are the costs of connecting to power, water and sewer at a distance of hundereds of yards? My drea would be to buy some of this land and lease it for development, or build one of the 1st houses there, start a trend and sell it in a few years as a primary dwelling. Tell me if you have these answers and what you think. 

One more thing. I have no capital and would need to borrow all of the money. 
  • July 11 2013
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ColinDMaloney great question. Mostly it is the down payment and there are very few lenders who lend on Land Now Days! Some sellers will consider financing. Reach out to me directly and I will be able to guide you since I do a lot of land transactions in the greater Los Angeles area.
  • July 10 2013
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