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  #1  
Old 06-19-2019, 04:11 PM
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Default financing land

looking at buying a small piece of land {20 to 50 acres} in the peidmont area of Ga in near future to hunt, shoot and hang out on. What's the best option for financing such a place, ? I own my own home and its paid for and I have excellent credit. Im thinking the best rate will be a home equity 15 year loan, Any recommendations?
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Old 06-19-2019, 05:22 PM
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Not sure that I would risk my paid off home on dirt. From what I've read and talked with a buddy of mine (he is president of a bank), most all lenders require a minimum of 20% down payment.

If you are going to make payments, I would make the down payment and borrow against the land itself so if something happened, you would not lose your home.

I wish you the best, I've looked at the possibility of buying some for the last couple of years, but it is a big decision.
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Old 06-19-2019, 08:00 PM
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Yea I thought of that, would hate to loose the house if something did happen, Ive got a decent down payment and if I can get a decent rate will use the land as collateral , I Think Ive found the land I want, nice little 23 acre tract with mixed hardwood/pines, a creek and a 5 acre swamp/beaver pond, if its got ducks n deer it would be perfect, waiting on the real estate agent to call me back.
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Old 06-19-2019, 09:05 PM
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Cool deal Rat! What area?

Oh yeah, I agree with Tim.

Good luck!
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Old 06-19-2019, 09:09 PM
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Hillsboro area./ Jasper co.
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Old 06-20-2019, 07:14 AM
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Quote:
Originally Posted by Bilgerat View Post
Hillsboro area./ Jasper co.
Nice! Big deer in that area
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Old 06-22-2019, 02:43 PM
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Get the loan and put 20% down. Stay away from home equity line!
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Old 06-22-2019, 03:26 PM
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thats the plan, going down tomorrow to look at a few tracts, all 3 are wooded and around 22 acres
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Old 06-23-2019, 09:19 PM
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Real close to cedar creek too.
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Old 06-24-2019, 07:36 AM
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went and looked at 3 tracts yesterday, the one with the beaver pond is 22 acres but about half of it is a big beaver pond/ open swamp. It had a beautiful area of huge white oaks and a few swamp chestnut oaks with deer trails cutting all thru it. ,. I think ts way over priced due to your only buying 12 +/- acres of usable land. The other two were about the same size and price and were planted pines around 12 years old with thick as hell under growth. If I can get the price down a little I will prob go with one of them or keep looking
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Old 06-24-2019, 09:59 AM
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If I were serious about buying, I would drop on a little further south and try to find a piece surrounded by plantation land. Worth, Lee, Dooly, Crisp up to about Taylor. I say that because the deer are bigger and the pressure is less.

I missed a deal about 5 years ago for select cut land that was surrounded on 3 sides by the plantation we hunt. 200 acres went for 160,000. The plantation owner bought it, so I still get to hunt it, but it would have been the perfect piece of land
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Old 07-12-2019, 05:50 PM
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I found a smaller tract thats 14.35 acres with mostly beautiful hardwoods and some huge pines on a dirt road near Hillsboro. Its surrounded by large tracts of timber land with mostly planted pines. i walked around last Saturday and saw tons of deer and turkey sign, It has a old house with a well and power pole, I spoke with the relator and he said the owner is willing to deal , they want 4300 per acre but Im thinking of offering him 3800 an acre for it. I could move My 37' camper from My hunting camp and have power n water hooked up in no time. then I could fix up the old house when Im not hunting and working to pay for THE PLACE. its only 10 minutes to My hunting club too!
I spoke with a Ag South agent today about financing today, should be no problem getting the loan
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  #13  
Old 07-12-2019, 10:21 PM
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Good deal man. Hope it goes through for you!
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Old 07-14-2019, 11:20 PM
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Good news.
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Old 07-15-2019, 06:33 AM
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Sounds good . Where is it at from the old store? I grew up hunting just down the road on Fullerton-Phillips & Goolsby.
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