Updated over 4 years ago on . Most recent reply
How to buy a horse farm in PA with no money?
Story time: Ok so i'm hoping this awesome BP community can help me solve a problem i have. I want to buy this farm that sets on 18 acres and has a six stall horse barn. I can get a VA loan for 550 (asking price) @ 2.5% and 0 down, the payment for this monthly is high. It would be a big stretch for us to make this work. To make this even harder we want to keep the current house we live in as a rental that we just bought a year ago.
Thoughts: This is crazy and i'm just dreaming here.... but what if i could make this work!? We could rent out our current house to cover the mortgage here and possibly rent out the barn to cover the mortgage for the farm also.
Ask: If anyone has experience with a impossible situation like this please reach out. If anyone has ideas about how to make this work please reach out.
Most Popular Reply
As far as the actual deal goes you could have offered a Price that made your payment doable and let the seller carry back an option which preserved their equity. You could buy that option back later or allow the seller to keep the upside.