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Has anyone here financed raw land with low interest?

Posted on 7/24/22 at 7:38 pm
Posted by BillWilliamson
Pensacola, Fl.
Member since Nov 2020
75 posts
Posted on 7/24/22 at 7:38 pm
Current rates on raw land are 6% or higher from what I've been told by my bank. I have 400 acres I want to buy but will get killed in interest payments at that rate.

Aside from paying cash for the property, are there cheaper ways to buy a property this size outside of a conventional land loan?

I realize rates have gone up across the board and we are headed into a downturn which could help me negotiate a lower price per acre, but I'd lose any gains paying back the bank on a purchase this size.

Does anyone on the board know of any creative ways to borrow for raw land without losing your shirt?
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