Posted by Bill H on March 06, 2009 at 20:48:03:
TD, your biggest problem is going to be finding a lender for farmland. If it were me I would check lenders first and try and line up the $$$ and then try and do the deal.
Good Luck,
Bill H
Leverage farmland and purchase 3-flat - Posted by TDChicago
Posted by TDChicago on March 06, 2009 at 11:00:54:
I have a 60 acre piece of farmland in illinois valued at $250k and it is fully paid off. The property is rented and provides some income. Well, I was hoping to leverage this land, not sell it, and purchase a muti-unit in Chicago in this devalued market. Im not sure the right way to leverage it. I am curious how much of a property I can afford once leveraged. And if anyone has some leads on a property in the lincoln square area of Chicago let me know!