Mortgage lead for Land loan in Houston, TX, 77078

Loan Request for Land loan in Houston, TX, 77078

Request #3710857 by Lender

Date Posted

1/10/2025 3:48:14 PM

Property at

Houston, TX, 77078, USA Show Map

Borrower at

Property Type

Land

Property Value

$6,250,000

Loan Request

$700,000

LTV

11.2 %

Credit Rating

750-759

Net Worth

$1,000,000 - $4,000,000

Loan Purpose

Property Purchase

Purpose

Hi,

I'm assisting Mr. Haynes as his loan broker. Mr. Michael Haynes has the 19.2+/- acres consisting of 95 approved platted lots under contract and in escrow for $1.2M plus $200k in fees. Kindly note, the property is known as the Park North Sec II & Cal Run Estates, and is located at 10000 N. Wayside Drive, Houston, TX 77078.

The Borrower's requesting a $700k purchase, bridge or hard money loan which is 50% of his PSA and fees... His exit strategy is to either sell the 19.2 acres or build BTR townhomes. Mr. Haynes will refinance your loan.

Kindly note that I've setup a Dropbox with an executive summary, the phase-1, plat, and survey. Each lot is presently worth on or about $65,000 x 95 lots which would bring the value of the dirt to about $6,175,000.

Last but not least, he'll need to close ASAP on or before Jan 30, 2025 unless his Lender requests a 30 day extension. Thanks a million in advance!

Lee Bellenger
214.306.1006

Hard Money Guides

TYPES OF LOANS WE HANDLE:

PRE-APPLICATION OPTIONS:

CALCULATE FIX N' FLIP MAX LOAN AMOUNT IN STATE

BLOG SUBJECTS

Loan Request for Land loan in Houston, TX, 77078