Buying land

>>1577317
get a cosigner.

you might qualify for a no-doc mortgage, but probably not.

talk to a banker and see what they say.

hit up your rich uncle.

it's actually easier in the US to get a mortgage if you have firm plans to build on your land- better collateral and possibly an FHA loan.

other than that you could just wait and buy when the money's rolling in. You may wind up paying a lot more, but you'll be in a lot better condition to pay it.

Buy apartments and rent them out. Dont buy land. Buy first apartment and let it make its loss back. When you have enough money for a second apartment then buy it. Continue working and doing the apartment process until you own a complex. Retire and continue to make money off it and you can sell any of it when you want.

>>1577320
Dad is rich but i indirectly talked about it and naturally his concern is that i have a means to support myself.

Haven't talked to a banker yet though I'm aware land loans are generally subject to higher rates and not on the 30 year mortgage.

I have firm plans for putting a tiny (300sq ft) cabin on the property as a place holder home until we can save up again for a full size but I'm not sure if a tiny house satisfies legal shit to be considered a livable home.

I don't know what a FHA loan is but I'll look into it before taking to a bank or credit union.

The issue i have with waiting is the property may not still be available and the guy is old so his shitstain inheritors may raise the price tag.

Thanks for the info

>>1577322
I'm not Indian so that has no appeal for me. But seriously, this is about buying a piece of paradise in a place I've loved for 20 years. The only return i might see down the road is renting out the cabin after our full sized home is complete.

>The ol natty bumparoo

>>1577317
>So any financially savvy people have ideas how i can make this happen?

I have no idea about your background, so take this with a grain of salt. And I'm talking about more generalities than the specific questions about you trying to get a loan for it.

Don't just jump on the first offer that comes by. Research the area you're looking at, and find an average of price/acre. Is it close to anything "valuable" (usually stores or locations close to a town/city). Where I live (fuck-nowhere Kentucky), land usually goes from 500 per acre (usually hilly land) to 1,000 per acre (flat land, possibly good farming land). Get an idea of the price before you buy. Things like "close to a city" are harder to quantify, so look for price trends.

40 acres is a lot. Is it woodland? or is it flat, farm-able land? Are you buying land just to "buy land", or do you have a purpose in mind? (i.e. farming, tree farming/lumber, building property). Keep in mind, the more you buy the more in taxes you will have to pay on it as well.

As for your question (getting a loan): how good is your credit, and can you possibly pitch it to a bank as buying more "residential" property, instead of just "land to own for the fuck of it"? If you approach a bank as wanting to get a mortgage on a house you intend to build (which just so happens to be on that 40 acre property), that might be more of a possibility. If you're buying land just for the fuck of it, a bank probably won't bite.

Again, don't just jump on the first thing. Something else good might come by when you're in better financial straights.

Zero house buying experience, but I've researched buying land where I live.

Let us know what you decide.

>>1578915
Well these are general things that im already aware of. It's coastal California and most parcels I've seen go for twice as much or at least are marked tWice as high. The land is mostly wooded and entirely on a slope with a dirt road passing through. It's about 30 minUtes to the nearest city which i like.

I can't emphasize this enough. This is the land for me i just need to know how to make it mine.

>>1577317
Incorporate a business around land transformation using your microbio background. Don't orry if you didn't learn how to build soil, you just have to know more than the guys with the money.

get a government grant or low-interest loan for your small business.

Alternatively, just talk to the guy, explain your situation, and pay him now to take it off the market. Be sure to write an actual contract.

>>1577333
The cabin will work as a home. Did something similar to fight off a shot processing plant

>>1579312
That's a really great idea. I has never considered that. I've got my hw for the weekend now, thanks. And yes a contract is a must.

>>1579312
I've heard of people doing deals like this with the government will pay you to lock up your land in some kind of wildlife preservation trust which comes with strings attached that you are not allowed to do any building or even any development at all(even putting in a fence or a driveway) on the property. Is this what you're talking about?