How to get started buying a piece of land

hey YouTube how's everybody doing everybody hello hello hello welcome to the farm vlog welcome to the live feed today Wow I've already got a ten dollar super chat in there thanks man that's awesome well I don't want to waste a whole lot of time but I want to waste a whole lot of people's time we're gonna get into the meat and potatoes of this I recognize the problem the problem is that a whole lot of people don't know how to go about buying property they don't know exactly what to do they don't know the steps they don't know where to start so on today's live feed I want to talk a little bit about that so my red beaver if you guys watch the channel red beaver keeps texting me so what I want to do is talk to you a little bit about buying land and about the process and try to unravel some of the mysteries for you this is a live feed so it's going to be moderately interactive for those of you who are joining us after we've done this video so if you see me talking to people this is a live feed a live stream so it's gonna be somewhat interactive so first of all I want to talk a little bit about buying land buying raw land and the different options and I've got a board up here because I'm not smart enough to remember all this stuff so I've got a little white board over here to remind me of the things I want to talk to you a little bit about so the first piece of advice I have for you if you're thinking about buying land is to be ready start saving your money start planning ahead okay make sure you've got a decent savings account and you can buy land with no money down in certain circumstances with owner financing and different creative financing but start saving start planning for this make sure that you're not out there trying to buy land you don't have a job that can support it you don't have a job that you can make those payments because let me tell you buying the land is just a tiny tiny portion of what it takes to maintain and grow a piece of property here well let's get you down a little bit there we go so the next thing I need to tell you you know you you need to be financially ready you need to be on board if it's you and your spouse and your children if their older children or younger children you guys all need to be on board and you need to establish a plan that's moderately flexible meaning your say you're out and you're looking for 10 acres well be flexible with that 10 acres you'll take 8 acres you'll take 25 acres when we set out to buy our farm we were looking for a 20 acre place 20 acres is plenty it is plenty let me tell you we started out looking for 20 we ended up with 60 and the rest goes on we bought 90 more we bought 40 more so we're at about 190 to 200 acres that is it's absolutely overwhelming and absolutely expensive it is a wallet sucking beast I will tell you right now so think about that you don't need that much land if you want a homestead you don't need that much land if you want privacy and I think a lot of the goals of buying land are to try and live off the land a little bit to try and do some hunting to try and have some privacy so you need to know with those goals established what your idea what land is so if your idea is to buy a piece of land and put a double-wide mobile home on it and grow a beautiful garden and have some pigs and cows and chickens then look for that size piece of land but I'm telling you start small it is absolutely overwhelming to have a piece of property this size we moved from the city I grew up in the country but I bought a house in town and well mostly bought a house in town because there were no single girls so that's where I met mr. mrs. steady ridges in the city so we moved off of a third of an acre to 60 acres and it was absolutely overwhelming to move to 60 acres and then we more and more and more so what I'm telling you is start small it's okay you can live off of a smaller piece of land now we're not talking about what to look for on your land we're talking about the steps to take it might give you a little piece of advice on what to look for on your land and some of the mistakes that I've made but there there are a few things you need to know so the next thing I want to talk about is being patient please just be patient don't get in a rush we've got to have a farm but it's got to have Lane we've got to have it now you're a 20 year old guy that graduated high school that's working in a machine shop and he's got to have 50 acres so he can start his homestead and start his farm you don't need 50 acres dude you don't need to bury yourself it will cause undue stress on your life and undue stress on your marriage and undue stress on your wallet I will tell you right now it is very stressful especially if you're the kind of person that wants to manage things and wants things to get prettier as time goes on you're gonna have to spend lots of time lots of money lots of work and lots of sleepless nights so take your time it may take you five years to find the perfect piece of property go look at 20 to 50 different properties look in the newspaper look in the Thrifty Nickel look online look at all sorts of places before you decide where you want to go we went out and we looked at probably 15 pieces of property and we almost settled on a piece of property that was about 40 acres and it was about 55 minutes away from my family which is not the goal the goal to live in the country is to have a family and be close to the family so think about it think about what your goals are okay think about what your goals are don't settle don't settle for a piece of property that you have second thoughts about don't settle for that piece of property but so be able to accept a dream look at a piece of property not for what it is but for what it can be in which you can make out of it all this this this entire conversation stemmed from us selling a piece of property to my sister so SuperDuper awesome my sister hopefully this will all work out and she'll be having a piece of land right across from our pond her kids will be able to fish in the pond it'll be just wonderful so I'm not sure if they'll move there I'm not quite sure of all the details but when she told me where do I start I thought to myself folks need to know where to start so that's why we're having this conversation get out and do your research look at the Thrifty Nickel look in the newspaper get creative go to the banks and talk to them if they have foreclosures go to your local Farm Credit office and ask them if they have any foreclosures that that might be suitable for you it's it's easy to find that stuff look for auctions look for different options for yourself you don't have to specifically go to the bank to get money to buy and land it is difficult to go to the bank and buy land say you're buying 20 acres say you're 20 acres is costing you $3,000 an acre you're gonna have to come up with 20 percent down to buy that land then you're gonna have to pay a higher interest rate you're gonna have to pay an interest rate about two to three points above what a standard home interest rate is so I've just I just want to be clear about this you've got to set your goals and you've got to really think about these things so some websites that that you can watch for land and this is what we watched was realtor.com Zillow land watch land and farm and be patient go to a little town that you like and talk to people and ask if they know froze up we've got some country internet out here so anyhow go to a local restaurant go to a local mom-and-pop shop go to a local place and ask around if you found a place that you think you'd like to live go to that place go to a restaurant and stop at a table full of elderly gentlemen and say hey y'all from around here you know anybody selling any land and I guarantee you they'll know somebody selling some land so think about that think of word-of-mouth get creative okay just you have to be creative fourth piece of advice save your money you're gonna need it if you're buying a twenty acre piece of property or let's say you buying it for fifty thousand dollars a twenty acre piece of property you're gonna have to buy a tractor you're gonna have to buy implements you're gonna have to buy gravel to build a road if you're gonna build a house there you're gonna have to put a septic system in you're gonna have to build your home you're gonna have to think about all these expenses so you need to get creative with financing and you need to save your money it is expensive to own a piece of property that's it the saying it cost money to buy land is very true now some places that you might search to get a loan so I'm a veteran of the Air Force and I thought I could just get a VA loan and buy land so when we went to look for land I thought I could get a VA loan I went to the bank and went to the credit union no we don't loan for land no we don't loan for land though we don't loan no no no no even for a veteran no government programs for veterans to buy land yeah if you want to spend five years trying to sign up for some kind of program it's nearly impossible to sort your way through the paperwork so there are government loans out there through the Department of Agriculture for buying land but the best luck I had was going through Farm Credit and Farm Credit did a great job for us Carolina Farm Credit here in North Carolina very very good job for us go to family if you're if you have this dream and you know say your credits not very good go to family talk to the person that's selling the land and see if they'll owner finance it for you sometimes you're just gonna have to get creative with your financing and with your finances in order to buy land don't get in a hurry and don't get in over your head do your research negotiate and you can also negotiate your interest rate with Farm Credit if you've got some good credit you can negotiate that interest rate down so these are a few things that I've learned along the way that I think are valuable lessons for purchasing land the first piece of land we purchased was 60 acres the next piece was 90 acres and the next piece was 40 acres first piece we had to put 20% down the next piece we used the equity from this piece for our down payment for this piece then the next piece we bought we ended up not having to put any money down and right here we only have to put money down on the first 60 acres and we started making heavy payments and we used our equity thank you flick family farm for the super chat that's a very very generous of you thank you so much so anyway that's it if you guys are here and you're watching this video after the fact and you're here to learn some good ideas about how to buy land and the approach to take those are a few pieces as those are a few pieces of advice that I can give you I realize that people don't know that people don't know exactly what to do and I think it's a very good thing to to share with folks so now we're gonna open it up for a little bit of discussion if you have lands tell me if you bought land where did you get it financed if you have a farm where'd you get it financed if you didn't inherit a family farmer you don't live on the family farm what did you do did you save your money did you buy it in cash did you do owner finance so I imagine a lot of you folks probably are going through the same thing that my sister's going through who did you get your land financed with it's Election Day by the way hopefully everybody got out there and voted I hope so North Country off-grid Chad's in here Chad and Shelby we're trying to get Chad to come out to the farm for North Country off-grid if you guys haven't checked those guys out check them out it's good stuff you guys voted today you left the compound to go voting right what's family homestead said you paid cash farmers bought in 1801 five-bedroom house on 11 acres so it's different when you're buying land with a house on it depending on how many acres Farm Credit says Delta for Farm Credit is a very good outfit I'm very happy with Farm Credit well the way Farm Credit works is that you're kind of a member like a credit union and you get paid dividends in other words you get money back from your investment so you get money back from your interest rate so you might pay five point five percent interest from Farm Credit but at the end of the year you might get fourteen hundred dollars dividend back so it subsequently lowers your interest rate sold your house got a hefty downpayment David C have I started working on the Jeep nobody but I did order the brushes for the starter we're going we're going to get in the garage and get on that thing soon a lot of stuff going on right now about 15 acres on the courthouse desk honest opinion I like that honest opinion you've been leaving some good comments here lately deed book one so if any you guys have land that's what I'm asking if you have any land how'd you buy it what did you do north country off-grid Chad and Shelby how did you guys buy your land tell tell me real quick want land with FSA office that's good work for somebody owner finance all right good deal so you guys know about that so everything in pay cash so michael krong krong vald a lot of people don't have anything to sell for cash a lot of people are buried up I mean before I got married before I made the decision to start saving my money and making making good decisions I was buried up in debt I didn't I owed for my car I would for my credit card I owed for my house I owed the insurance company and I owed the power company out everybody eventually all that stuff starts piling up on you you just never get anywhere so guys I thought I'd do a quick live feed tonight talk to you a little bit about what what is going on on the farm and give you a little bit of advice if you're thinking about buying your own homestead if you're thinking about getting started and you're in you're stuck and you don't know what to do really so it takes a lot of money plan ahead start small remember you get about tractors you gotta buy fuel you got to buy gravel you got to have a bulldozer come in and clean it up if you need that so there's a lot of money involved and a lot of expense involved in buying a piece of land above and beyond buying the land and paying the taxes it's good stuff how can I get out of a landlord property well sell it man guys thanks a whole lot for coming tonight I just wanted to have a quick chat with you I appreciate you be sure you pound that like button we've got 250 people in here those like pounds really really help a whole lot helps you to recognize it you like it and you're here for a reason we'll be talking to you soon I've got a whole bunch of stuff going on with chainsaws and this company right here log ox we're gonna be working with log ox it's got a really cool timber jack system that makes things a whole lot easier for cutting up wood and hauling wood and stacking wood and stuff like that so lots of fun stuff going on here on the farm so we'll see you next time thanks a lot found that like button subscribe the channel if you're new here I look forward to seeing you again take care guys woo