I am currently looking at property in eastern Washington. I found a property I think has a lot of potential. I may go and see it in person if I can get the financials figured out. The property is listed for 135,000. I only have about 65,000 in the bank. I have other assets that would put my total worth around 105,000. The only problem is I don't currently have a job. I am a full time student taking a sustainable agriculture course while doing an internship on a Permaculture farm. I don't really have time for a job right now. I am making an income off of the GI bills housing allowance which is around 1100 a month but I know that a bank will not accept that as income. I tried in the past and was denied. To sum things up, I could use your help finding a financial institution willing to give a loan to a vet that wants to purchase a house and start farming the land. Thanks!
Andrew, I hope you can find some way to make that dream come true. I don't have any leads for you in terms of a lender for your need, but there may be some contacts and links through these websites that may be of use. Hope you can find a path to success on your land.
Edited to add: Andrew, I would encourage you if you are inclined and if the opportunity presents itself to go visit that land but really try to see if you can arrange that visit with the owner as opposed to just the real estate agent. I've heard more and more of a surprising number of land/property sales where the owner, upon meeting a prospective buyer, substantially reduced the price of the property in order to "match" their property with a good future owner. It may even turn out that by meeting with the owner, they would agree to divide the property, creating a sub-parcel that may be acceptable to you and at a more affordable price. Worth looking into.....
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posted 2 years ago
John, Thanks for the advice! I will look into the links you provided and get back to you with what I find out. I may be looking at this property on the 15th and have requested that the owners be present. I may also try to talk them into owner financing. I really appreciate your input!
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