How YOU Can Afford To Buy LAND!! | Down Payments, Financing, Creating Income
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- čas přidán 15. 11. 2021
- Whitetail Properties Principal Partner and Louisiana and Arkansas Land Specialist, Wesley McConnell, discusses multiple ways that YOU can afford to buy LAND!! Most important is having your financing in order and knowing what you can afford. But there are many ways buyers can come up with a down payment aside from having cash on hand. Wesley also discusses how you can reduce the note on a property by creating income on that property through things like timber harvests, Conservation Reserve Programs (CRP), leasing the hunting rights and having tillable acres on the property.
Official Website:
www.whitetailproperties.com/?...|_down_payments,_financing,_creating_income&
Wesley McConnell Agent Page:
www.whitetailproperties.com/a...|_down_payments,_financing,_creating_income&
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Affording the down payment is THE biggest issue, but that was blown past in the first ten seconds. Everyone I've talked with wants 20-30% down immediately.
You are correct, in most instances the down payment is the biggest issue. There are ways to help with the down payment before purchasing the property. For example, you could have a logger come bid on timber, sell the timber, and use that money as part of your down payment. There are a few more intricacies to that, but the point being you can find ways to help with the down payment!
@@Whitetail_Properties. Can you 1031 a rental condo equity stake into a raw land purchase?
@@chadhouser973 There are more variables to consider than just a yes or no. We would contact one of our land specialist in your area and give them some more information on your specific situation.
Yeah, i contacted your agent about a property over a week ago and didn't receive so much as an email.
Great video
How are surveys and appraisals cost wise ?
We want to buy land and build a log cabin
That sounds like a great idea!
Crp programs come with a “must do your part by such date” right?
Typically they do have some sort of "mid contract management" that are part of the [program, yes.
hey guys, can I get something in Florida? I have been looking in Florida for a while.
If you buy land are should you appraise the timber right away so you know what to pay for capital gains tax when you harvest? Or how does that work?
You can have the timber appraised at anytime. You can potentially use the timber value on a property you may buy to help with a down payment. But, it never hurts to have a timber cruise done and know what the value of the timber on your property is..
We just posted a video " Valuing The Timber On Your Property | Timber Basis" Answering this question much more thoroughly!
Is credit a big factor to lenders
Typically it is taken into consideration.