Posted 1/7/2021 09:14 (#8730379 - in reply to #8729882) Subject: RE: Buy ground or no?
Kettle Moraine, WI
Little papa - 1/7/2021 06:25
I would go to fsa and see if they where willing to work with on a piece of land to buy. If you could by some land and prove you are credit worthy over the next 15 years then it will be easier for you to get a loan for your dads land at that time. Get your feet wet with a creditor and do your best to make payments and always be honest with them.
If it makes sense to stay at the location and to buy land:
Consider buying some land from your dad. At FSA interest rates, you may be able to cash flow. Buying from your dad may improve his balance sheet and financial standing to make more money for you to inherit.
Consider getting your dad to protect your inheritance from 4 D's- death, divorce, disability and dementia
Have a plan and use instruments to secure it
Remember a will only matters when the person dies and anyone can spend their money as they want.
Just because mean you can doesn't mean you should