Summary: 

What if you want a homestead for you and your family, but you have bad credit or very little money? 

  • Buy some actual newspapers, made of paper, from the area where you want to live and also from the surrounding counties.

  • Look for land that is For Sale By Owner.

  • Go small (2-3 acres), you will save money on taxes & maintenance expenses.

  • Call the owner and ask how much they want for the down payment.

  • If it is too much, just admit that you can't afford it. Be nice, but negotiate. If they like you, maybe you can make a deal. 

  • Ask what the interest rate will be. You will not get a low interest rate like with a bank. You are looking for 8 - 12%. This is how the owner will make money on the deal and that is OK. You have bad credit or little money so you have no choice. 

One Way Poor People Can Buy Land With No Money

  • Get the actual address, look up the address and find out what the zoning is. You are looking for residential/agricultural or just agricultural.

  • Make sure this property is not in a "100 year flood zone". If it is, don't buy it. The land will be damp & buggy at times and unhealthy for your animals.

  • Contact the owner and arrange a walk-around of the property. Walk the whole property. 

  • Make sure the property has a well or a natural water source (pond, stream) with water rights. If you are dependent on off property water, you are not truly off-grid. 

  • The land should be relatively flat. You are paying taxes on the whole piece of property and if you cannot use some of it because of a steep slope it is not a good deal.

  • Hire a title company to make sure it is all legit and not a scam. They will find out if the people you are dealing with are the actual owners and that there are no liens against the property from the past. Make sure it is a "clean title". 

  • Get title insurance, read and sign the contract. Congratulations, you are now the land owner! Don't forget to pay the taxes.

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One Way Poor People Can Buy Land with No Money

A video by Becky's Homestead

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