Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You can if it is a legal real estate transaction like you get a deed for the physical land or some type of legal condo or co-op real estate transaction. Don't expect homeowner rates and terms. Look at commerical real estate lenders.
You can if it is a legal real estate transaction like you get a deed for the physical land or some type of legal condo or co-op real estate transaction. Don't expect homeowner rates and terms. Look at commerical real estate lenders.
Of course it's real estate, but it's not something anyone is going to lend on. The OP would have much better luck finding a personal loan than finding a secured parking space loan.
Of course it's real estate, but it's not something anyone is going to lend on. The OP would have much better luck finding a personal loan than finding a secured parking space loan.
That is true, being able to get a loan vs. getting a loan is worlds apart. On Hawaii, land loans are common but only 1 bank and 1 credit union offerd land only loans for parking spaces in Honolulu. The rate was something like 3% above real property loans, was only for 10 years or less and an LTV of 50%. They also required it be a fee simple with its own TMK (individual taxed property) or under a condo property. I was lucky the company finally bought it for our use and not me personally.
Crazy... I suppose though, parking spots can be rare in places.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.