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krjernigan
krjernigan
Junior Member
Last Activity: 21st September 2017, 11:32 AM
Joined: 8th September 2017
Location: Wilmington, NC
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  • krjernigan
    started a topic Another newb

    Another newb

    Hello--just signed up after watching for a while. I'm involved with a self storage venture in North Carolina that buys underperforming properties in secondary and tertiary markets with some sort of economic driver present. It would be something like a regional hospital, university or military base....
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  • Most lenders don't want to mess with raw land unless there is a solid development plan by an experienced developer. Too many were burned on land loans when the housing market cratered in 2008. Advance rates generally run 50%-65%. Some hard money lenders still do land loans but advance rates are the...
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