- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Buying property in Louisiana
Posted on 9/15/14 at 7:37 am
Posted on 9/15/14 at 7:37 am
I'm looking to buy a couple of acres in Covington to build a small house on and raise a few cows.
I have no clue who to talk to about borrowing money for undeveloped property. I'm not sure I can even do it. Do regular realtors deal in undeveloped/agricultural land? Is there some state department I should call? How do I get the ball rolling to see what's available and what my money options are?
I have no clue who to talk to about borrowing money for undeveloped property. I'm not sure I can even do it. Do regular realtors deal in undeveloped/agricultural land? Is there some state department I should call? How do I get the ball rolling to see what's available and what my money options are?
3
Posted on 9/15/14 at 8:04 am to DownshiftAndFloorIt
What you going to do with those cows bro?
Posted on 9/15/14 at 8:11 am to eng08
Write them off and eat them 
Posted on 9/15/14 at 8:40 am to TigerDeBaiter
Probably won't write them off if it's just a few
Posted on 9/15/14 at 8:41 am to DownshiftAndFloorIt
On a serious note, I am sure there are at least a few agents who specialize more in land and there are banks that lend money for that too.
Check around at the smaller banks.
Check around at the smaller banks.
Posted on 9/15/14 at 9:14 am to DownshiftAndFloorIt
credit unions and guaranty bank do raw land loans. whitney also does them. the rates are normally over 6% for 10-15 yrs on raw land. if you want to build a house on it that shouldnt be a problem unless you are looking at more that 20 acres.
Posted on 9/15/14 at 9:55 am to hawkeye007
The place I'm looking at is 7 acres.
6% seems pretty crappy though. I thought they would be better than that.
My primary account is with a credit union so I plan to call them and see what they offer. I wasn't sure if there was a specialty entity for loans on land.
6% seems pretty crappy though. I thought they would be better than that.
My primary account is with a credit union so I plan to call them and see what they offer. I wasn't sure if there was a specialty entity for loans on land.
Posted on 9/15/14 at 9:57 am to jimbeam
It wouldn't be much of a write off. Just 4 or 5 on that small of a place. More of a hobby than anything.
Posted on 9/15/14 at 10:36 am to DownshiftAndFloorIt
Louisiana Land Bank: LINK /
Specifically agribusiness and rural land lending.
Specifically agribusiness and rural land lending.
Posted on 9/15/14 at 12:12 pm to hungryone
Thanks. I'll give them a call.
Posted on 9/15/14 at 10:20 pm to hungryone
La land bank requires the property be located on a paved road
Won't lend money too you for property if located on dirt or gravel road
Won't lend money too you for property if located on dirt or gravel road
Posted on 9/15/14 at 10:20 pm to hungryone
La land bank requires the property be located on a paved road
Won't lend money too you for property if located on dirt or gravel road
Won't lend money too you for property if located on dirt or gravel road
Posted on 9/16/14 at 9:16 am to DownshiftAndFloorIt
when you start shopping you will find that land loan % are higher than house rates. 6% i pretty good
Posted on 9/16/14 at 9:45 am to DownshiftAndFloorIt
I'm in NELA, but work with SEVERAL lenders that will do loans like that...one of which is Louisana Landbank....but several others will turn small deals like that one over MUCH quicker than landbank at very competitive rates.
Posted on 9/16/14 at 10:00 am to Huntinguy
What type of percentage down is required for land loans?
Posted on 9/16/14 at 10:15 am to DownSouthDave
Generally they like 20% or as much collateral as they can get, but there's lots of flexibility out there depending on equity (sale price less than appraisal), income, credit and size of the deal.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News