Heres the deal.
1) Know your Zoning.
2) Know that comps are going for in the area. KNOW THIS!!!!!!
3) once you have the above, you know what your goals are and what is realistic. BE CONSERVATIVE in your values, everything is overvalued right now.
4) you can probably get private money up to 65% LTV for the land which should help with the plans. Once you have approved plans, then you get a construction loan for the future value of the property.
Heres the deal.
1) Know your Zoning.
2) Know that comps are going for in the area. KNOW THIS!!!!!!
3) once you have the above, you know what your goals are and what is realistic. BE CONSERVATIVE in your values, everything is overvalued right now.
4) you can probably get private money up to 65% LTV for the land which should help with the plans. Once you have approved plans, then you get a construction loan for the future value of the property.