How I’m buying farmland with a USDA loan

I'm back on my farmland. That is not yet my farmland. I still have a few more weeks before the deal closes, but I was going to talk to you guys today about how I'm able to afford this land so that you could do the same if you were possibly considering purchasing farmland. I did not know until last month that you could even get a loan for land in this country. I thought if you were buying land it had to be all cash. I thought that was the only way to buy land in this country. Then I discovered the U.S. Department of Agriculture. I looked on their website, I called a local branch of theirs near here, and I spoke to someone on the phone. They told me they have different loans depending on what you are going to do with the land. It has to obviously be something agriculturally related. Since I'm not putting a normal residential structure on this land, I couldn't qualify for a construction loan from them. I do plan to put some type of tiny house on it. I'm doing a lot of researching right now, so if you guys have any advice or anything, if you're experts in any of this, please drop your knowledge below because I am a novice at this. That is what I think is going to make this special for people because if I can do it, you can do it type of thing. Also, me learning all of this is going to allow me to essentially write a book on it, which is what I want to do next for you guys is write a book. Anyway, I got a USDA loan for 25% down based on what I plan to do with this land. I'm not going to share everything yet, but that was the loan I qualified for with them. I have enough cash to put the 25% down on this land, so that is how I am able to afford it using a loan from the USDA. Now, that being said, there are so many programs, grants, and sponsorships that you could be using or looking into for buying land. I am just impatient. I didn't want to wait six months because that is typically how long it takes if you want to qualify for a grant and have it applied to the land. I didn't want to accidentally lose this land or have somebody else come in and bid against me or something like that. I didn't opt to go for a grant or free money in this case, but I would highly, highly, highly recommend that you look into it if that's something that you have the time to wait for, if you aren't on the same type of timeline that I'm on, if you're doing something else, working somewhere else, you don't need the money right now. I would look into those programs because there are so many. This country definitely wants to incentivize people developing agricultural land. I will say that. The tax system wants to incentivize people developing agricultural land. The amount of tax breaks and credits that are available to me doing something with this land is unbelievable. I'm going to do so many videos. I might even write a whole book on this because me and my best friend and her boyfriend, who are both CPAs, are going to learn together and we're going to find every last tax thing that can be applied to this land. I don't really believe there's a lot of accessible knowledge on this out there. The government 100% will incentivize you to get land and grow crops on it, have animals on it, have a sanctuary of some kind on it, anything like that. The government is a fan of you doing that. Just like they're a fan of you buying real estate and developing housing, the tax system is essentially written in a way to incentivize you to do things so that the government doesn't have to do those things. The government's kind of lazy. If you make their life easier for them, they throw you a bone. But anyway, using the government, U.S. Department of Agriculture loan for this. It's in the process of... I have a loan commitment letter already from them. I had to supply all the usual stuff to qualify for it. Tax returns, tax transcripts, bank statements. I had to do an asset liability form, what my net worth is, credit check, all the usual stuff that has to go on. I had to tell them about my apartment I have in Miami. Very normal loan process. I'm in a loan portal with them. Since it's money coming from the government, it usually takes four to eight weeks for them to be able to provide that money to the person who is selling the land. With that in mind, if you're buying land and it's very competitive, there's a lot of bids on it, typically the seller will go with someone who has an all cash offer first since they don't want to have to wait for their money. In this case, the seller liked what I planned to do with the land, which is cool. There was another offer on the table, and I think that person was kind of trying to bargain with him. So he does have to technically wait a little bit for this money to be fulfilled using the loan, but he likes what I'm doing with it. So yeah, that worked in my favor. You never know. That's why, like I always say, you just have to try things in this life. You never know if something's meant to be, if it's meant for you. I definitely believe there are no coincidences in this life. I definitely believe there's a much bigger picture at play that none of us can necessarily know, and trying stuff is the only way to find out. I believe you got to meet your destiny halfway. So a lot of people are calling me absolutely nuts and crazy for doing this. Lots of criticism as per usual, but you know what? I feel like if I don't do this, who will? Because I really do believe we need people, entrepreneurs, to start stepping up and putting the environment first and proving that you can protect this environment, put zero chemicals on it, love it, cherish it, and also make money with it at the same time. I believe it can be like a symbiotic, cohesive relationship where one nor the other is harming each other, and I just don't really believe people are doing that yet. So here's my second update from the land. I'm hoping to have more information for you guys soon. Once it closes, I'm going to have so many videos I'm going to be posting about working with the town, bringing utilities to the land. What kind of greenhouse am I going for? What kind of modular home do I put on this? Am I going to use solar? I don't know yet, but it's going to happen quickly, and while all that's happening, I'm going to take you guys through that process with me. Promise you this is not going to be dull. Also, I have a newsletter I launched on this brand here. I'm going to link to it below. If you guys haven't subscribed, it's free, and in the newsletter, I'm going to every week break down every single little thing that I'm learning, doing, brand I'm working with. It's going to be incredibly transparent. That's the usual with me. So if you haven't subscribed, definitely subscribe. Sent out the first one today, so I guess that means I'll be sending them out on Fridays. If this ramps up to the point where I have so much information to share with you guys that I can't keep up with it, I may end up sending out two a week. Who knows? I'm very excited about this, if you can't tell. Come on. Such a nice day Apologies if the wind is hitting the mic on there. I do feel like at some point, I need to work with a videographer in the area and have someone come just film me and do all the editing and everything, because I'm just definitely not a long-form video editor, so bear with me. If any of you live in the Saratoga, New York region, and you know a videographer who is looking for a client and wants to film me doing weird crap and edit it, let me know. I'd love to hit them up, so feel free to comment that below. But with that, here we are. I'm back. Hope you guys had a great week. Any questions you have, any comments, suggestions, drop them below, and I'll see you guys in a couple days. Bye!