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How to buy ground?
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nar
Posted 7/10/2012 01:11 (#2476807)
Subject: How to buy ground?


Wyoming
I saw all those posts about how easy it is to buy ground... I guess that would be if you had a great year last year and had a ton of cash on hand? I can't see how in my situation. Got hailed and froze the last couple years but prices made things still half decent. No big reserves going into this year though. I have the chance to buy a neighboring chunk of ground maybe, and I am currently renting it. Would be around 300k. I'm 32, own no ground right now, some decent equipment but with trading into the 8320 last year not a ton of equity in it right now. I don't farm a ton of ground either, I do custom work to pay for equipment. So if this place ended up selling to someone else I will lose over 1/3 of my ground and have to look out the window of my house the rest of my life and see it... So how do I get that ground financed? Not a situation where the seller would carry part of it, they want to refinance the rest after selling the part I farm. FSA is out of money as usual, they only got I think 200k this year and there were 19 people in line ahead of my application. FCS wants 30% down, I don't know where I could possibly get 90-100 for the down payment. State is similar down but might appraise it better then FCS will so possibly get less down there. Local banks will loan you the money if you have that much money in their bank... Not much help there. I just can't see how it is as easy as guys were saying, at least for younger guys without a lot of acres. Give me some ideas here before I have a heart attack please?

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