Preamble:
About 2 years ago I decided to get into Agriculture/ Permaculture/ Aquaponics with the hope of having some form of a business. I have gone through a few iterations of how this would play out. The most sensable is that I would purchase a home outside of the city and then start my system.
Challenge:
I have had quite a roller coaster ride as far as looking for property. I have been outbid on about 7 and a few others have fallen through for various reasons. I am not giving up, however I am not sure if there may be a solution I have not seen yet. I was looking for homes (manufactured mostly) that have >1 acre but <10 acres west of Phoenix. The major problem is financing. I feel I can overcome distance, lack of water (given a well on site), heat, soil conditions, etc. Financing this endeavor has become the real issue, my price range is about >120k. Right now this endeavour only involves myself :-/ I am dependent on my day job, which is actually somewhat enjoyable.
Question:
Is there another way to achieve what I want?
What I've tried so far:
Conventional loan Manufactured home has a 60/40 rule applied to apprasial; house can only be loaned on for 60% of apprasial
. Looked at bare land.. up side its cheap, however without at least an intrem source of water, I think it will be very difficult to work with. Still looking at homes closer into the city with about 1 acre, as that would be all I could possibly afford at the price point.
End:
I'm sure a great may folks have dealt with some of these situations so I really wanted to see if I could get some input on this stuff that has been playing around in my head for the greater part of 2 years.
