How I’m buying farmland with a USDA loan

I'm back on my Farmland that is not yet my Farmland I still have a few more weeks before the deal closes but I was going to talk to you guys today about how I'm able to afford this land so that you could do the same if you were possibly considering purchasing Farmland I did not know until last month that you could even get a loan for land in this country I thought if you were buying land it had to be all cash I thought that was the only way to buy land in this country and

then I discovered the U.S department of Agriculture and I looked on their website I called a local branch of theirs near here and I spoke to someone on the phone and they told me they have different loans depending on what you are going to do with the land it has to obviously be something agriculturally related since I'm not putting a like normal residential structure on this land I couldn't qualify for a construction loan from them I do plan to put like some type of tiny house on it I'm doing a lot of researching right now

so if you guys have any advice for anything if you're experts at any of this please drop your your knowledge below because I am a novice at this and that is that is what I think is going to make this special for people because if I can do it you can do it type of thing and also me learning all of this is going to allow me to essentially write a book on it which is what I want to do next for you guys is write a book but anyway I got a USDA loan for

25 Down based on what I plan to do with this land I'm not going to share everything yet but that was the loan I qualified for with them I have enough cash to put the 25 down on this land so that was eight that is how I am able to afford it using a loan from the USDA now that being said there are so many programs grants and sponsorships that you could be using or looking into for buying land I am just impatient so I didn't want to wait six months because that is typically how

long it takes if you want to qualify for a grant and have it applied to the land I didn't want to accidentally lose this land or have somebody else come in and bid against me or something like that so I didn't opt to go for a grant or free money in this case but I would highly highly highly recommend that you look into it if that's something that you have the time to wait for if you aren't on the same type of timeline that I'm on if you can you know if you're doing something else

working somewhere else you don't need the money right now I would look into those programs because there are so many this country definitely wants to incentivize people developing agricultural land I will say that uh the tax system wants to incentivize people developing agricultural land the amount of tax breaks and credits that are available to me doing something with this land is unbelievable I'm going to do so many videos I might even write a whole book on this because me and my best friend and her boyfriend who are both CPAs are going to kind of learn

together and we're going to find every last tax thing that can be applied to this land I don't really believe there's a lot of accessible knowledge on this out there and the government 100 percent will incentivize you to get land and grow crops on it have animals on it have a sanctuary of some kind on it anything like that the government is a fan of you doing that just like they're a fan of you find real estate and developing housing the tax system is essentially written in a way to incentivize you to do things so

that the government doesn't have to do those things the government's kind of lazy so if you make their life easier for them they throw you a bone but anyway using the government U.S department of Agriculture loan for this it's in the process of I have a loan commitment letter already from them I had to supply all the usual stuff to qualify for it tax returns tax transcripts bank statements I had to do an asset liability form what my net worth is um credit check all that all the usual stuff that has to go on and

I had to tell them about my apartment I have in Miami very normal loan process I'm in like a loan portal with them and um since it's money coming from the government they it usually takes four to eight weeks for them to be able to provide that money to the person who is selling the land so with that in mind if you're buying land and it's very competitive there's a lot of bids on it typically the bot the seller will go with someone who has an all-cash offer first since they don't want to have to

wait for their money in this case the seller liked what I plan to do with the land which is cool there was another offer on the table and I think that person was kind of trying to bargain with him so he does have to technically you know wait a little bit for this money to be fulfilled using the loan but he likes what I'm doing with it um so yeah that worked in my favor you never know that's why like I always say you just have to try things in this life you never know if

something's meant to be if it's meant for you I definitely believe there are no coincidences in this life I definitely believe there's a much bigger picture at play that none of us can necessarily know and trying stuff is the only way to find out I believe you got to meet your destiny halfway so a lot of people are calling me absolutely nuts and crazy for doing this lots of criticism as per usual but you know what I feel like I if I don't do this who will because I really do believe we need people entrepreneurs

to start stepping up and putting the environment first and proving that you can protect this environment put zero chemicals on it love it cherish it and also make money with it at the same time I believe it can be like a symbiotic cohesive relationship where one nor the other is harming each other and I just don't really believe people are doing that yet so um here's my second update from the land I'm hoping to have more information for you guys soon once it closes I'm gonna have like so many videos I'm going to be posting

uh about working with the town bringing utilities to the land what kind of greenhouse am I going for what kind of modular home do I put on this am I going to use solar I don't know yet um but it's going to happen quickly and while all that's happening I'm gonna take you guys like through that process with me promise you this is not going to be dull also I have a newsletter I launched on uh this brand here I'm gonna link to it below if you guys haven't seen subscribed it's free and in the

newsletter I'm gonna like every week break down every single little thing that I'm learning doing brand I'm working with is going to be incredibly transparent you know that's the usual with me so if you haven't subscribed definitely subscribe send out the first one today so um I guess that means I'll be sending them out on Fridays uh if this ramps up to the point where I have so much information to share with you guys that like I can't keep up with it I may end up sending out to a week who knows I'm very excited

about this if you can't tell look come on such a nice day out apologies if the wind is hitting the mic on there I do feel like at some point I need to work with a videographer in the area and have someone come just film me and do all the editing and everything because I'm just definitely not a long form video editor so bear with me if any of you live in the Saratoga New York Region and you know a videographer who is looking for a client who wants to film me doing weird crap and

edit it let me know I'd love to hit them up so feel free to comment that below but with that here we are I'm back hope you guys had a great week any questions you have any comments suggestions drop them below and I'll see you guys in a couple days bye