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i own a commercial lots (all paid off) what's the best way to get a loan to build a retail center?

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  • ZBC
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it a raw land and it half acre  the town assessment it $300,000 
i need about 700,000 to build the retail center. my credit it about 750 and i have 73,000 income a year.  how hard is it to get a loan and what's the best way to get it?
i m in RI

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July 29 2010 - US
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Answers (3)

I don't see much hope beyond $150,000 with a hard money lender. First, I suggest you go into a few smaller local banks and credit unions to discuss your plans. ..... Happy funding, Rudi
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July 29 2010
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  • ZBC
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it going to be long term. i own a restaurants in town for 5 year. i was planing to move in. it will take up 40% off the space in the retail center.  
 
the land it self the town assessment it 300,000 and i don't have to be 700,000.  what't the most i can get?
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July 29 2010
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the numbers dont really seem to work in your favor...  you cant afford the loan without the rental income. is your plan to build and sell? or hold long term?
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