Dollar Raw
I paid off 10 acres of land in Florida, what should i do with it?
I own a small house in va and i plan on selling it in 1 year and moving back to florida. I should make 20-30 thousand.
The land in Florida is nearly paid off, zoned residential, and valued at 80-90 thousand dollars. Raw land.
Can i get more house for the money to build one or buy an existing house.
Also when i do buy another house should i sell the land and use the money towards the new house or use it as collateral.
Will a bank use land as collateral?
Thanks for the help!
well you have several options you can go.. you can use the money has a down payment and have a home built on the land.. you can get a good used trailer and put it on it for around 20,000 or you can used the land as collateral for your home to be built.. but most of the time when you move.. unless you have a field like doctor.. nurse.. maintenance.. what ever.. the field you have if you had if for a while if you get a job in the same field they will still loan you money.. at least that what i was told .. by a friend of mine that moved from one state to another.. one more thing you can do is call a mortgage broker and explain to them what you want to do and they could tell you what they think..but i live in Florida.. and the market keeps going up every year..or you could sell both and buy a home.. do a bit of research on how much they cost in that area..
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