How to Buy Land With No Money: Leveraging Your Resources

Nowadays, not many people buy land; instead, they purchase properties that are already built. While this can be more convenient, it doesn’t leave much room for creativity and exploration.

If you’re more of a free thinker, then starting with a clean slate is best for you. However, buying land requires cash, cash that you don’t have.

Luckily for you, land purchase doesn’t always require you to have cash on hand. Read on to see how to buy land with no money.

Take Out Land Loans

Land loans (also known as lot loans) are available for people to purchase plots of land if they can’t afford it on their own. This type of loan shouldn’t be mistaken for construction loans, which are short-term loans for immediate construction.

The types of land loans available include:

• Raw
• Unimproved
• Improved

Typically, you’ll need to have an excellent credit score (720 or higher) to get approval. If you don’t, then try some other methods on this list.

Try Owner Financing

In some cases, the land sellers are willing to finance the purchase themselves. In this arrangement, they act as the lender, and over an agreed-upon period, you’ll make regular payments directly to them.

If you aren’t able to secure traditional loans, then this can be an excellent alternative.

Do Land Swapping

This is only feasible for people who already own property or have valuable assets.

You can approach a landowner and ask if they’d like to do a property swap. For example, if you’re interested in hunting land, you can exchange that plot with a lot you own. This way, you exchange your property or assets for their land, which eliminates the need for a cash exchange.

Create a Crowdfunding Campaign

There are real estate crowdfunding platforms where multiple investors pool their money to purchase land.

You’ll have to depend on people believing in you. So having a compelling story about why you want to buy land will motivate people to donate to the cause. Think carefully about how to word your campaign to get optimal results.

Look Into Government Programs

There are some government agencies that have programs to help individuals and businesses acquire land. These are mostly targeted toward agriculture and community development, so if you’re planning on being in these industries, then you’re in luck.

Research and inquire about such programs that may be available in your area. You never know if you’ll find one that’s perfect for your needs.

This Is How to Buy Land With No Money

Now that you know how to buy land with no money, you might be surprised at just how feasible it is. While you can take out traditional loans or get owner financing, there are other options too, such as land swapping, crowdfunding, and using government programs.

The point is, if you look for resources, there’s bound to be some that’ll help you own land. Then, the possibilities are endless as to what you can do with it!

If you enjoyed learning about real estate investment opportunities, then keep reading our blog page for more.