Usually not for Collateral so more than likely you will need 20% down for the loan.

ping deloran he can help you find some land and can talk more into the loans and what your options are.

I have a very good relationship with a local bank. I used them to get my SBA loan which was a 4 month process and involved multiple meetings with the head loan officer, VP and president. I'm in there daily for business and use them for all my business needs.

Having 20% down is doable in the next couple three months.

Yeah but I'll need a place to do the range portion of ccw classes on well before that. I currently have a place but I'd like to not have to work around my busy schedule and his. It's happening soon enough just a question of how and where.

My grandfather always said a couple things....they stuck with me.
1. They dont make any more land!
2. Land typically only goes UP in price, so the time to buy land is when it becomes available if you can afford it.


The prices per acre you are looking at seem rediculously low to what land costs around here. If buying 20 acres at that price....JUMP ON IT!

Some things to consider tho....

1: is the land in a flood plane? you may not be allowed to build a home there without expensive work to elevate the land, and even then, yiou may have difficulty getting insurance
2: is there a certain type of home structure you are wanting to build, and would it be allowed in the county you are looking at land in? I say this because I want to buy land and build a Morton building "port home"....in Clay county I doubt I would be able to do that, but in Ray or Clinton counties I doubt I would have an issue. This changes where I am looking for land, and what that land may go for...for me the land would go for less, but I may have to haul my water in!
3: can you swing more than 20 acres? I can't even imagine land that cheap and would be strongly tempted to find a 50-100 acre tract if I could afford it.....down the road you may find that 20 acres with a range is only good for a range and home, leaving little room for any hunting.
4: what is the SHAPE of the land, and the backdrop beyond it? A long skinny strip of land would be more suited to longer rifle fire, BUT not if the land slowly slopes up in your shooting direction or if you cannot definitely control where your bullets are going when shooting further than pistol ranges. I mention this less so from a CCW trainer standpoint, and moreso from a standpoint that I want an area to shoot long range with a rifle.....which means I will pass on land that is priced low if I cannot safely get in 500 yard or further practice.


Best of luck K-Dawg.................and when you get everything done, you better have a shoot with BBQ there!





ETA:.........just a thought on waiting until you can afford to pay cash for it....if land starts going up, you are fighting a longer battle to save more money each month while the land price continues to climb. The comparison is not a direct one, but I looked at selling 8-10 ARs when I had them in college to fund a single M16 (they were gonig for around 10-12K at the time), but I didnt, figuring I would keep all those rifles and save money up until I could pay cash for one and then I would have all those rifles AND an M16! Now the value of an M16 is around the 20K range, and if I hadnt sold those rifles, the combined value that used to be equal to a registered machine gun is now HALF the value of a registered M16. Sometimes when opportunity knocks, you should go answer the damn door! I still get mad at myself for not selling all those rifles and getting a single machine gun....then rebuilding with uppers and so on.

What you're looking for sounds like it would be considered primarily recreational property. Since it's not income producing property I'm guessing you would probably be needing to deal with a local bank as opposed to SBA or FCS.

With your credit I'm almost positive you would qualify with 50% down but you may very well only need 30% down. The land will most definately be used as collateral for whatever amount you finance, meaning they will have a lien and get the land if you default. However, it's actually the amount of equity you have in the land that determines how much they will loan you.

As low as interest rates are now and provided you're 100% positive you can swing the payments come hell or high water, I wouldn't be afraid to buy any decent piece for the prices you listed. eta: As a matter of fact, I think land is probably one of the safest investments you could find anywhere right now.

Make sure you know about water sources, access, building codes, and easements before you pick out your property.

What sort of land are you finding for 1500-1800 per acre?

Correct, the only income production would be from ccw classes. Another perk is that if I need to fall trees, I can use oak and hickory in my smoker at the restaurant So in reality, this COULD save the restaurant a bit of cash.

I drove by a place for sale today that is a quarter mile from where I currently use for my ccw range. Land I looked at I could easily setup a range on this land. It would be a pistol range but that's all I NEED. Right now, I'm just looking at what would be in my price range.

In talking with the realtor to get directions, she said I'd need 20% down.

I'm about to start hitting the ccw classes hard and let them get me there faster.... yes I supply lunch