Tuesday, February 27, 2018

How can I Buy a Farm I can't Afford?


Through a relative, I have the oppt to buy a farm with a renewable energy system running through it (solar/wind). Asking price is $3.5M and anticipated wind revenue is between $250K-$500K/yr. Good for 30 years.My idea is to get 3-5 parties together to co-sign a loan. But where would I obtain the best terms for such a loan and what should I seek out? What types of organizations write loans like this? Regular banks or some specialist? Could I make any money simply brokering the deal (finders fee?)The farm as a farm in its current state is of negligible value but could be improved with a little creativity. The variability of income is partially a function of finalizing how many turbines/solar panels to allow on the land which is still open for discussion.Note: I originally posted this in personal finance but one of the mods kicked me over here. If you think there's a better sub for this question, I'm all ears. via /r/business http://ift.tt/2otMSq2

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