One Way Poor People Can Buy Land With No Money

today I'm going to show you one way poor people can buy land with no money let's go welcome to Becky's homestead [Music] you have the strong desire to buy land you really want to homestead for you and your family but you have no money you have bad credit or no credit and you just feel hopeless well I'm here to tell you there is a way you can do it and I know because I did and now I'm mortgage free this is the perfect time of year to get started because you're going to be using your tax return so don't touch it okay step one is you're going to scour the papers I found when I was doing this the little local papers just had the best deals and what I did is if you live in this county obviously you're going to get the papers in your county but cross the line into the other counties around you if this is the area general area you want to live and get all the papers from all the counties and then go home and just sit there with a sharpie and just scour the papers and obviously what you're looking for is owner finance you're trying to look for land for sale by owner because there's no way you can go through a bank a bank is never going to give you a loan because you have no money for a down payment you have bad credit or no credit so forget it they will not even consider you but there's still hope in doing it this way because that's what I did this is my personal model that I live by small small small go small you don't need as much as you think and just in your mind you picture this huge big thing let me assure you that is a lot of money a lot of work and a lot of maintenance go small you can squeeze things in your land and make things wonderful and save money and you won't have to spend the rest of your life working working working to pay taxes and to cover all your expenses so don't forget go small two to three acres is plenty of land for a homestead so what you want is two to three acres and once you find a good prospect call the number call up the owner and scam how much they want for the down payment just be friendly and honest I find that's the best way to be just be direct and if he says the down payment is too big that he's asking for just say I can't afford that and you know sometimes you can work out a deal and they'll lower that down payment especially if you're they feel like you're nice and honest and they can work with you and the second question you want to ask him is how much of an interest rate do they want on the deal the you know the sell and you want between eight and ten percent that's what I personally go for you're not going to get a fabulous interest rate like a bank would give you because you're just not going to do that when your owner financing you know that's where they're going to make a little money as well that's what's in it for them is making a little money off the interest that you know they're holding the loan for you so between eight and twelve percent to me is fair okay so if everything sounding good you're getting a good feel for it and you know what he says or she is agreeable to you get the full legal address of the property including the county it's in and what you're going to do with that is you are going to go on the county website and you're going to go to the property appraiser's office you want this zoning department and you have to look and see if that property is zoned residential agricultural that's a combination residential / agricultural that is what you want or strictly um agricultural you know usually strictly agricultural is on a bigger piece of property and most likely if it's two to three acres it's going to be residential / agricultural which is fine while you're looking up the zoning it has to have the word agricultural in there or you're not going to be able to have a homestead you're not going to be able to have the animals you want to raise your own food on a homestead so that is so so so important that is number one if your zoning so make sure you check that out for yourself don't take anybody's word for it because people will just tell you what you want to hear to make the sale or they just don't know and they'll just say whatever but you want to see that with your own eyes from the county website the second thing you want to look up while you're on that website is see if the property is in the Hundred Years flood zone you really don't want a property that's in a hundred year flood zone because this is the reason it's going to be a damp kind of wet piece of property and if you plan on having animals that's never a good thing if you want your animals to be healthy and problem-free you need dry land high and dry it can't be muddy damp swampy buggy property it's just going to be miserable so if the zoning and the flood zone check out it's all good to go you're going to drive to the piece of property always call the owner and make arrangements because you want to be able to get on the property walk around have a good look around and you want to see if the property has a well that's what I look for that would totally be a plus if there's a well there's water on the property that is awesome if not you can always add one it is going to cost more money but if it's a really really good deal like my property was a fabulous deal and it had nothing on it but it was such a good deal you know I got it but my other piece of property that I owner financed when I first got started when I had nothing and two little kids and not a penny that piece of property did have a well on it so that was a big plus for me a lot more properties than you think will already have a well and septic and Power on them it might be a lousy old trailer on there that's just run down and not livable anymore it might be a property that had a trailer and they moved it an old house that's been torn down or burned down I mean there's just so many different you know situations that the property has the well on it already so you know look for those because those are a little extra plus once you get there and you get out and you get onto the property what you want to see since it's a small piece of property is a flat piece of property you want every inch of that property to be usable because you know it is a small piece of property on purpose very intentional at the same time you gonna be able to use every inch of it while you're laying out your homestead and you will just be so happy so that's what you're looking for you know it doesn't have to be fly as a pancake but you know you want it flat generally the whole piece that is a really good plus and remember this this is a very very important tidbit not every good deal is a good deal I know people that buy property that seems like a good deal it's a very low price and they're just like wow it's such a good deal but in the end it ends up being on a very steep piece of property it's not usable you can only use part of it um you know it just has issues it's not big enough in the end like it might say it's 2 acres but then you know it's like a little tiny spot is only usable and you're paying taxes on the whole piece so what you want to do is make sure it's a nice flat usable piece of property that's high and dry so you found your perfect piece of property the terms are really good the down payments agreeable you went and had a look at it and it just you know it's zoned right it does or doesn't have a well everything looks great nice flat piece it's not in the flood zone the next step is you have to find a title company what the title company does is it does all the research for a fee they do charge it does all the research to make sure the person you're dealing with is the actual owner of that property it also checks out and make sure that there's no liens on that property from the past you know somebody owed money and there's a lien on that they make sure it's a clean title don't do it the old-fashioned handshake way you might build your homestead up and have every all the improvements and then the person's like thanks a lot and then you'd have to go to court and Sue and all that it would just be the biggest nightmare of your life so just make sure you find a title company and you go through a title company when you purchase your land ok so the last step is you have your title insurance you sign the contract and just seal the deal with your signature and congratulations you are now a landowner it is so exciting and most importantly it's very doable and I know because I did it twice and if you want to learn a little more you can buy my ebook back this guide to buying land the link is in the description below

Channel: Becky's Homestead

Views: 6,017,599

Keywords: Buy Land, Buy Property, Homesteading, Real Estate Advice

Id: snXCFoxRLCA

Length: 9min 46sec (586 seconds)

Published: Sun Jan 10 2016