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Posted: 2/15/2006 1:04:32 PM EDT
What is the best way to finance a land purchase? Its an 80 acre plot that I want to build a cottage on so its not a primary home. I would only have to finance about half the cost. The owners are in a family feud and want the money up front so no land contracts. Thanks!
Link Posted: 2/15/2006 1:06:24 PM EDT
[Last Edit: 2/15/2006 1:07:35 PM EDT by ZitiForBreakfast]
Can you cash out re-fi your current home?

Or, just ask a mortgage company and have them write up a mortgage.

You have several options here.

IM and I will hook you up with a fellow lover of the 2nd Amendment who sells mortgage's to many of my clients. I can help with title work as well along with contracts. If it is just writing them up..or getting them to you...Pro-Bono, baby!

LMK!

Link Posted: 2/15/2006 1:06:55 PM EDT
If you have enough equity in your primary residence, an equity loan would be ideal because the interest on an equity second TD on your home is fully deductible.

Tagged for interest.
Link Posted: 2/15/2006 1:10:38 PM EDT
So a mortgage on the property would not be tax deductible?
Link Posted: 2/15/2006 1:11:33 PM EDT
[Last Edit: 2/15/2006 1:12:26 PM EDT by arfreak74]

Originally Posted By ARDOC:
So a mortgage on the property would not be tax deductible?



If it isn't your primary residence, then no.


then again, I'm not H&R Block, and I DIDN'T stay at a holiday inn last night.
Link Posted: 2/15/2006 1:11:58 PM EDT

Originally Posted By ZitiForBreakfast:
Can you cash out re-fi your current home?

Or, just ask a mortgage company and have them write up a mortgage.

You have several options here.

IM and I will hook you up with a fellow lover of the 2nd Amendment who sells mortgage's to many of my clients. I can help with title work as well along with contracts. If it is just writing them up..or getting them to you...Pro-Bono, baby!

LMK!




Wow thanks for the offer, I will take you up on that. Let me look into the finances in more detail in the next few days and I will see what I need to do.
Link Posted: 2/15/2006 1:13:29 PM EDT

Originally Posted By ARDOC:

Originally Posted By ZitiForBreakfast:
Can you cash out re-fi your current home?

Or, just ask a mortgage company and have them write up a mortgage.

You have several options here.

IM and I will hook you up with a fellow lover of the 2nd Amendment who sells mortgage's to many of my clients. I can help with title work as well along with contracts. If it is just writing them up..or getting them to you...Pro-Bono, baby!

LMK!




email me and I will give you a guy's name..His name is Bob, my email addy reoagent at kw.com



Wow thanks for the offer, I will take you up on that. Let me look into the finances in more detail in the next few days and I will see what I need to do.



ARDOC,

email me and I will give you a guy's name..His name is Bob, my email addy reoagent at kw.com
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