Comments on: Can we bring back the Land Loans now? http://buytucsonlots.com/2009/10/can-we-bring-back-the-land-loans-now/ Wed, 13 Jul 2011 17:42:46 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: rick http://buytucsonlots.com/2009/10/can-we-bring-back-the-land-loans-now/comment-page-1/#comment-7 rick Wed, 14 Oct 2009 01:55:59 +0000 http://buytucsonlots.com/?p=416#comment-7 Thats a great idea. I think the tough part is to get private money to accept a reasonable rather than an astronomical return. Typically these lenders border on predatory. But you're right, there is a great opportunity to put together investors with borrowers. As to the lack of construction loans, I'm doing business with Priority Lending, that is currently offering a 90%LTV construction loan at under 6%. Thats a great idea. I think the tough part is to get private money to accept a reasonable rather than an astronomical return. Typically these lenders border on predatory. But you’re right, there is a great opportunity to put together investors with borrowers. As to the lack of construction loans, I’m doing business with Priority Lending, that is currently offering a 90%LTV construction loan at under 6%.

]]> By: Mark Bahti http://buytucsonlots.com/2009/10/can-we-bring-back-the-land-loans-now/comment-page-1/#comment-6 Mark Bahti Tue, 13 Oct 2009 23:07:12 +0000 http://buytucsonlots.com/?p=416#comment-6 Perhaps we need to find investors with cash who would be willing to pool funds. I had a lot and an FHA commitment but could not find a construction loan. Each local bank backed away saying they were 'risk adverse'. What risk? Private capital needs to step away from banks with their 1% and 2% 'returns' and make the money available so that not only can they get a much better return on their money but so that the economy can begin to revive at the grass-roots level. Perhaps we need to find investors with cash who would be willing to pool funds.

I had a lot and an FHA commitment but could not find a construction loan. Each local bank backed away saying they were ‘risk adverse’. What risk?

Private capital needs to step away from banks with their 1% and 2% ‘returns’ and make the money available so that not only can they get a much better return on their money but so that the economy can begin to revive at the grass-roots level.

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