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buck19delta
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Posted: 11/18/2012 11:15:26 PM
[Last Edit: 11/18/2012 11:38:26 PM by buck19delta]
There is a company in tennessee, that has tons of owner financing land. 1-1000 acres of land. Simple as hell. $400 for paperwork, no money down, start making payments. Not even a credit check. I am looking at buying a home locally, but i can almost guarentee in a few years, i will be looking into this. Buy 5-10 acres in the tennessee mountains, take a camper up there, and build a bol cabin, to use as a family vacation/ hunting cabin. not a perfect solution, but for guys on tight budgets, it looks great.

http://www.countryplacesinc.com/

lots of nice properties. im definately going to be checking this out later in depth.
there is a place in this world for all of gods creatures....... right next to the mashed potatoes.

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RedBones
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Posted: 11/19/2012 1:16:34 AM
Tag.

Thanks
Firefighter503
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Posted: 11/19/2012 8:56:22 PM
Nice. I love the area down there. Will have to check this out later.
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ColtRifle
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Posted: 11/19/2012 11:45:01 PM
As soon as you said "no money down" and "no credit check" I got paranoid.

I'm not saying that it's not legit but I'm suspicous.

TNhick
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Posted: 11/20/2012 1:07:55 AM
I've looked into some no or low money down property years back. There was always a glitch. Bordering a working rock quarry, near vertical, right of way, ect.

By the way, I hear KY, GA, and ARK are MUCH nicer than TN.
tayous1
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Posted: 11/20/2012 4:44:28 AM
Originally Posted By TNhick:
I've looked into some no or low money down property years back. There was always a glitch. Bordering a working rock quarry, near vertical, right of way, ect.

By the way, I hear KY, GA, and ARK are MUCH nicer than TN.


Forget Texas! Yes,Yes I know I'm in ND but I miss Texas a lot!!
buck19delta
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Posted: 11/20/2012 4:50:14 AM
i might not be correct on this, but ill take a stab at it. I think a lot of tennessee, ( and kentucky), is very poor, with few jobs. They have a lot of land thats not very good for farming, mostly up and down, with little sideways. I think they are trying to make it as easy as possible for people to buy some land there. taxes on 20 acres were like $100 bucks a year.

They rent to own the land, you pay for the paperwork, pay your payments, and default a year later, they get their land back, and relist it again. I am not saying there is no scam, and fnancing it for 30 years would be a bad idea, due to interest, but it could be a easy, low cost way to buy some bol land. I have already decided to contact them, and look into it. Buy 5-10 acres, and take a summer, take a travel trailer and go build a family cabin for vacations, and hunting. you CAN put money down, for lower interest, but for a lot of people, with issues, divorces etc, this might be a good option.
there is a place in this world for all of gods creatures....... right next to the mashed potatoes.

"If there must be trouble, let it be in my day, that my child may have peace."
Thomas Paine, 1776

tayous1
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Posted: 11/20/2012 4:57:54 AM
Originally Posted By buck19delta:
i might not be correct on this, but ill take a stab at it. I think a lot of tennessee, ( and kentucky), is very poor, with few jobs. They have a lot of land thats not very good for farming, mostly up and down, with little sideways. I think they are trying to make it as easy as possible for people to buy some land there. taxes on 20 acres were like $100 bucks a year.

They rent to own the land, you pay for the paperwork, pay your payments, and default a year later, they get their land back, and relist it again. I am not saying there is no scam, and fnancing it for 30 years would be a bad idea, due to interest, but it could be a easy, low cost way to buy some bol land. I have already decided to contact them, and look into it. Buy 5-10 acres, and take a summer, take a travel trailer and go build a family cabin for vacations, and hunting. you CAN put money down, for lower interest, but for a lot of people, with issues, divorces etc, this might be a good option.


Good on you! I thought at the age of 30 I was going to do this now I'm 33 and have nothing to show for it! Drive and drive hard!!!

pdm
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Posted: 11/20/2012 6:48:54 AM
Thanks for posting this link. Interesting site and nice insights to property in that part of the country. There's something about the Smokies that just seems right.
" I come in peace. I didn't bring artillery. But I'm pleading with you with tears in my eyes. If you fuck with me I will kill you all" Major General James Mattis, USMC speaking to Iraqi tribal leaders during the march to Baghdad, 2003
Merlin
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Posted: 11/20/2012 8:06:14 AM
Excellent timing! My wife and are in the process of looking for 20-100 acres in the south mid-TN hill country.

Thanks!
Zoldaman
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Posted: 11/20/2012 11:24:54 AM
Tennessee, like most Southern states, varies from flat to mountains, depending on where you are. I've only spent a little time there, but have seen some beautiful places that I'd certainly be happy to call home. If you get away from the big cities and vacation areas, there are some very poor sections of the state where the factories, mills, etc have moved over seas at some point and taken most of the jobs in town with them. In many of the small towns, if you could move in and open a small manufacturing business of some kind, you'd have your pick from a pool of folks who don't mind a little hard work.
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Posted: 11/20/2012 12:08:21 PM
Great job, Buck. (Keep steering people away from Indiana and Kentucky!) Great deals in Oklahoma, too.

Meet you at Whittaker's this weekend for the anti-tourist and anti-homesteaders campaign meeting over an RC and a Moon Pie?
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HomeSlice
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Posted: 11/20/2012 12:24:29 PM

Originally Posted By ColtRifle:
As soon as you said "no money down" and "no credit check" I got paranoid.

I'm not saying that it's not legit but I'm suspicous.


If it sounds too good to be true...

Be cautious, guys. If nothing else, have a lawyer review any papers you sign and the overall deal.
Lord, keep me from being the one the wolves pull out.. -GB
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EXPY37
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Posted: 11/20/2012 12:44:22 PM
Listen to Slice...
UFGatorAR
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Posted: 11/20/2012 1:28:55 PM
Originally Posted By HomeSlice:

Originally Posted By ColtRifle:
As soon as you said "no money down" and "no credit check" I got paranoid.

I'm not saying that it's not legit but I'm suspicous.


If it sounds too good to be true...

Be cautious, guys. If nothing else, have a lawyer review any papers you sign and the overall deal.


This. Even when purchasing a house we do not deal with a (buyer's) RE agent, but I do have a RE attorney who reviews all docs before they get signed. I pay a lot less than paying an agent commission and know I am totally covered.

RCK1999
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Posted: 11/20/2012 1:33:13 PM
Originally Posted By buck19delta:
There is a company in tennessee, that has tons of owner financing land. 1-1000 acres of land. Simple as hell. $400 for paperwork, no money down, start making payments. Not even a credit check. I am looking at buying a home locally, but i can almost guarentee in a few years, i will be looking into this. Buy 5-10 acres in the tennessee mountains, take a camper up there, and build a bol cabin, to use as a family vacation/ hunting cabin. not a perfect solution, but for guys on tight budgets, it looks great.

http://www.countryplacesinc.com/

lots of nice properties. im definately going to be checking this out later in depth.



Did you look at the interests these "loansharks" are giving????

No money down at ONLY 9.875% interest.

Wonder how they would respond to an all-cash offer?????

seek2
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Posted: 11/20/2012 3:24:22 PM
Originally Posted By RCK1999:
Originally Posted By buck19delta:
There is a company in tennessee, that has tons of owner financing land. 1-1000 acres of land. Simple as hell. $400 for paperwork, no money down, start making payments. Not even a credit check. I am looking at buying a home locally, but i can almost guarentee in a few years, i will be looking into this. Buy 5-10 acres in the tennessee mountains, take a camper up there, and build a bol cabin, to use as a family vacation/ hunting cabin. not a perfect solution, but for guys on tight budgets, it looks great.

http://www.countryplacesinc.com/

lots of nice properties. im definately going to be checking this out later in depth.



Did you look at the interests these "loansharks" are giving????

No money down at ONLY 9.875% interest.

Wonder how they would respond to an all-cash offer?????



They'll take the cash.

We have similar outfits in AZ. They're actually not overtly corrupt, but they do make
money on misfortune. The basic model is they buy a state land parcel
(usually a square mile, 640 acres or so) and slice it up into 40 acre blocks
and put them up for sale at a fixed price per acre (usually between $400-$1000.)

They make money from the interest (they're self-financed, so no banks, it all goes to them.)

If you get behind on property payments, they repo (and since they're the finance company
and the seller, repo'ing is pretty easy for them) and then resell the property. In my area
there's a few lots that have been sold multiple times, and since there's virtually no equity
in the first few years, the buyer is out everything. So they make money on the repo/resales
and I'm pretty sure can even write off the missed payments prior to repo.

They also make some money on fees. No money down, but usually at least $500-$1000 in
various fees.

My BOL is actually a pretty primo chunk of high desert land with a year-round stream
through the property (in AZ, this is super rare) and they were more than happy to sell it
to me for cash, no issues. They're also happy to sell it to someone who will default in
six months, it's all just money to them.
nickmimi
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Posted: 11/20/2012 3:38:25 PM
Did something similar here in Nevada. I also got a discount for using cash instead of financing. We bought 20 acres.
Paul
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Posted: 11/20/2012 3:55:19 PM
I like that search engine.

There's an option for "No single wides allowed"
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TomJefferson
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Posted: 11/20/2012 5:17:36 PM
Best I can tell from the few links I clicked on, most of them are in strip mine country. Land up that way does indeed go very inexpensive. There's a reason. There's nothing there, extremely rural and Bubba country, which is outlaws and saints.

Its extremely close to Coal Creek and basically right off the Sinking Creek exit of I75. Some of the lots are close enough to the old Brushy Mount prison to throw a rock at it. Prices seem high to me for the area and though land contracts are common as dirt here in TN, the interest rate is quite high too. That's the area us guys in the forum do our offroading trips often posted here on the forum. (Actually for the guys who have done that the back side we road pavement to get back to camp after dark otherside of the mountain north.)

Beautiful country really and if extremely rural is your thing, that that is.

Tj
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booger-hooker
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Posted: 11/20/2012 9:53:20 PM
I bought my first property from the developer (who has become a very good friend) back in 1992...80 acres for $24,000 in SE Idaho (wooded mountains, remote, runs parallel to the Bear River and surrounded on 3-sides by BLM land) on terms for 10 years @ 10%. This was pretty much the going rate as you couldn't get any lending institution to loan any money on bare land and as it has turned out to be a very good investment as I could never afford to buy anything like it at todays prices.

Now my friend has told me about a 4.5 acre piece of property, wooded with Pinon & Ponderosa Pines, that he took back in Colorado and would sell to me for what is owed...$10,000. I know he'd take payments but I would like to pay this off and be done with it so I need to start looking at thinning the firearms herd to free up the cash to purchase if I choose to go through with it. He has a couple other 2.5 acre parcels that are wooded similarly for the same price that another ARFcom member is interested in purchasing as well.
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Posted: 11/20/2012 10:06:08 PM
Too bad that place has no land for sale in Lincoln county, TN where I'm looking to buy some land.