Farm Operating Loans Explained
Loans and lines of credit are two different financing options borrowers can leverage to help manage working capital while maintaining adequate cash on hand.
4 minute read
Access to available farm land can be a major obstacle to expanding an operation. As a limited resource, agricultural land is in high demand among those who can afford it. Not only are you competing with other farmers and ranchers, you may also be bidding against outside investors and absentee landowners.
So how do you find farmland to buy? Where can you start looking when it’s time to expand your ranch? This article highlights some of the resources at your disposal.
Online Resources to Find Land for Sale
The Internet is often a great place to start your search. There are a number of online search tools for locating land for sale.
If you are a beginning farmer or rancher, the U.S. Department of Agriculture has several resources available to help you start or grow your operation.
You can also check with your local extension office for information on land values and programs available for acquiring land.
Local Resources to Find Land for Sale
It’s worthwhile to establish relationships with local real estate agents and auctioneers. These experts have extensive knowledge of properties currently or soon-to-be on the market. They also might be able to identify sales that are a good fit for your operation.
One of the benefits of working with FarmLend and Farm Credit is our experience and insights specific to the agricultural industry. Our ag land experts can help you think through some of the additional variables that come with buying farmland and help you understand how the purchase fits within your total operation. Our articles on land affordability and cash flow considerations would also be useful as you begin to think about how a land purchase will impact your financials.
Finally, your neighbors and fellow farmers and ranchers are good resources. Knowing and talking to people in the community might point you to unlisted sales or to people who are considering selling their land. Being proactive can help give you an advantage in the increasingly competitive land market.
Feel confident in your land decisions
Use our land loan calculators to understand how a farmland purchase or refinance will impact your financials.
Categories: Education,
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