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Cattle Boards
Beginners Board
Found a place, now how to afford it.
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<blockquote data-quote="RD-Sam" data-source="post: 762049" data-attributes="member: 7927"><p>If I was going to cash in my retirement I would put the money down on the land. See if the owner will finance, owners want to sell and can't because banks won't loan money right now. Make sure you know what the current market value is, land prices have dropped along with housing. I bought a small piece a few months back, the guy was asking $25k for it about a year ago, ended up selling at $18k and owner financed at a better rate than the banks. Go as short of a term on the financing as you can stand and get it paid off. Land values most likely will only go up from here, but it will take quite a few years for them to get back where they were before the market crashed.</p></blockquote><p></p>
[QUOTE="RD-Sam, post: 762049, member: 7927"] If I was going to cash in my retirement I would put the money down on the land. See if the owner will finance, owners want to sell and can't because banks won't loan money right now. Make sure you know what the current market value is, land prices have dropped along with housing. I bought a small piece a few months back, the guy was asking $25k for it about a year ago, ended up selling at $18k and owner financed at a better rate than the banks. Go as short of a term on the financing as you can stand and get it paid off. Land values most likely will only go up from here, but it will take quite a few years for them to get back where they were before the market crashed. [/QUOTE]
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Found a place, now how to afford it.
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