Financing for raw land/ranch land
I was at a family get together over christmas and a number of aunts/uncles/cousins were floating around the idea of buying a family ranch and I am now wondering how financing for properties like this work. The situation I'm looking at would be to buy land and then lease part of it to a ranching operation and use the lease money to make the payment on the property. This is not something i've researched in depth and just a rough idea. Wondering if anyone has any experience in buying raw land/ranch land/farms and what kind of financing there is for a property like this and how it works? What do lenders typically look for/require?