A Texas Rancher Takes Advantage of AgAmerica’s Quick Lending Process to Purchase New Property
A Texas ranch owner was looking to add another property to his portfolio. With the guidance of his financial advisor, he decided to turn to AgAmerica to assist in the financing of his new endeavor.
In the land investment industry, it’s imperative to understand the resources available to achieve financial success. One such advantage is the 1031 exchange, a section in the U.S. Internal Revenue Code that enables investors to use money originally designated for capital gains tax to purchase additional properties. Such advantages typically don’t come without stipulations. The 45-day time limit set on 1031 exchanges can sometimes pressure investors into rushed purchases and create difficulty in finding adequate financing in time.
The efficiency in AgAmerica’s loan approval process made it possible for this Texas ranch owner to purchase his weekend ranch. The package also included an additional $743.4K 10-Yr RLOC for future property improvements and funding of ranch operations. The credit line carries no non-fees or annual renewals and is secured through existing real-estate collateral.
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