How to Buy Land with No Money Down

What % rate would bank charge if i get a loan to buy the property rather than owner-finance it? 7-10% seems quite high

Absolutely amazing

100% doable.
This is how I did it on 5 acres of land.
I asked a bank if they would finance the sellers asking price. They said only 80% of the asking price. I asked the bank, if the seller and I make an agreement that I would pay that 20% down payment as an owner financing agreement. They said yes. The seller agreed to accept the 20% divided into 24 payments and they received 80% from the bank after I received the loan.
I paid ZERO down and had two small payments over time. The owner financing loan got paid off in 24mo. then later the bank got paid off.
From the first month of ownership until today (almost 20yrs) I've paid surveys, added electricity, water, septic, build structures and made land improvements.
The first month I cleared a spot large enough to pitch a one man bivy tent. From summer thru winter I stated there on the land in that tent as my only shelter and worked after I finished my day job in an insurance office. It was awesome. After getting electricity and internet, I was a baller.

hey Wayne, what do you mean by survey ?

Great videos. Glad I found your channel.

Thanks sir. I have some good lands in Ghana

FEMA..Federal Emergency Management AGENCY, not Association, sir.

We need a Turkish version of you. (Not the language but the businessflow.) 😆

Great no nonsense advice!! Thanks!

Could you do this if its already listed with a real estate broker?

I bet that land youre walking on is gone?

Appreciate the video. After the deal is agreed, how would the new owner avoid a lien (for the previous owner) going against the property in the future? Is that possible?

Ty for helping us less informed

I finally found it this was the video of yours I was looking for

Excellent advice! I'm also a LA broker, and typically owner finance my investment property. My buyers are usually other investors - I require a down payment, interest 1% over prime, monthly payments w/balloon, no prepayment penalty @ no longer than 3 years. I prefer Bond for Deed transaction for owner finance, but have also used local attorney for Leases with Option.

Or look for off the market properties?

How to buy land with: No! Money down!

great news and information

FEMA federal emergency management agency not association.

Back in 94ish i did owner finance. In n. Fla. SO CLOSE TO GULF.. Came up on hard times. Had to let go. But i find it hard to fathom people doing nowadays. SIR YOU HAVE GREAT VIDEO'S. GIVES ME HOPE AGAIN..

Wow, Thank you for your time of your day. I do appreciate your rapid response.😊

That looks like nice land your standing on, where abouts is that land? Can you grow fruits and vegetables on it or put some farm animals on it as well? What kind of wild is there? Just wondering...

Imagine someone who has no credit hmmmm this isn't true

I’ve spoken to a lot of dumb real estate agents in my life. This guy takes the cake.

this reminds me of this old simpsons lawyer joke, "works on contingency"? NO, money down!" lionel hutz, classic, rip

Thank you for the info!

Where is you located at services?

Click bait

Why would you want to offer the seller an extra $10k on the purchase price as an incentive? If you start paying actual mortgage (amortized) payments then the seller will be getting more or less double what the purchase price was by the time you are finished making payments.

Banks and credit unions near me won’t finance a land purchase. Needs to be a pre 🎉existing home or construction loan for. A new home.

Federal Emergency Management Agency*

why do I see so many properties in Colorado that can't be financed, its so weird

Thanks for the clarifications.

What is the country that gives this opportunity?

Wayne, FEMA stands for Federal Emergency Management AGENCY, as it is a federal agency and not an association. Heard you say “agency” in 2 videos and thought you could use the correction 😊

... that's not getting land for no money.. what you're saying is 'no money down'.. you should make the title a little more realistic and accurate...

I want to buy land Texas Fort Worth

Sir thank you so much for your knowledge I am looking for a home and this is very helpful

Good Day Wayne. I'm a disabled vet looking to purchase some private land to build on and recently came across your vids and subsequently Subscribed for your straight talk candor on these Vids so thank you. Wondering if you have any tips that could help me learn more about how to do this possibly with VA loans? Great videos, thank you for what you are sharing on here; I've got hopes this can possibly happen!

Wow ! you explain everything so nicely .

Great info Wayne, very helpful for those interested in purchasing land...thanks for the wisdom. For future videos, FEMA is the Federal Emergency Management AGENCY vs. Association.

Thanks for the information there's two 1\2 acre properties I've been wanting for about 4 years

Why just one mortgage for the property? Couldn't you parcel out the land and set it up for multiple structures with multiple mortgages?

I can't imagine a person wanting to wait 30 years to get paid for land they sold. I certainly wouldn't.

I know a senior who wanted to finance instead of selling because he would have to pay taxes from that sale.

How do I contact your real estate agents? These videos give so much information. Thank you! Allean Doss