I’m just a regular person with a regular job, but I have a lot of experience in the equestrian industry, which technically qualified as “farming”. I want to purchase a particular commercial property for $ 650k. Median homes in the area are $ 200k (of which I have one, although I have a mortgage.)
I realize this may not be feasible but it’s my lifelong dream so I’ll be damned if I don’t try.
The property has a residence plus commercial farming facilities, so it is income-producing. How do I go about trying to find financing? (I realize I need a lot of market research, business plan, etc.)
Do I simply approach regular banks with a business plan? The USDA? Nontraditional lenders?