Land for Sale

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From: Mr S


Hi again,

Have gone IP mad lately with action plans in place and strategies in the pipeline. Am currently at my borrowing limit however due to a dirty chunk of dirt I own. Not suitable for development, re zoning or cheap building because it's a ski slope in a upper market estate built around a golf course.

Basically bought it 7 years ago and watched it go up in theoretical value... and yes CCT will be due but coping with this hiccup.

My problem is that I'm itching to sell it with approved house plans so I can get another 3 IP's under my belt... but the market is slow.

Any strategies apart from fire sale that anyone can swing my way would be greatly appreciated...

Dont want to hang onto it past xmas... and already willing to drop price considerably... but not if I dont have to.

Cheers

 

[Rolf Latham]

Reply: 1
From: Rolf Latham


Hi Martin

Rather than take an offer you dont really want why not use the piece of dirt for security for a loan to obtain the deposit for the 3 IPs ?

Unlikely that you would be at the limit all round with all lenders )

Then lurk for the right offer and .........

Ta

Rolf