20 Miles West of Indianapolis Indiana | If u have big equity in another farm talk to RABO about their real estate equity line of credit. (RELOC)
10 year interest only requirements then after 10 years rolls into a traditional 20 year loan.
Many will laugh and say its a terrible deal. IMO allows a guy some cush the first 10 years. U can still make principal payments during it, but on $8,000 an acre ground @3% that's $240 an acre for a max payment. If u had bought a farm in 2011 or 2012 and this 2015 came up, would be a nice time to take advantage of this and pay interest only for a year or two while things were right.
Another thought is if u buy a farm that needs tiled, or needs the fertilizer hmered to it it'll leave funds available for u to do a little bit of that each year, then make larger payments once those things are paying u better... |
How do you structure your land deals?
