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Updated 5 months ago, 08/03/2024
Can I increase my loan approval odds by offering surface gravel rights?
Looking to purchase an income producing ag property, farm and pasture land, that also has a massive gravel production site, over 20 acres of it (approximately 400,000 tons).
My approval odds aren't great, I'm a first time investor without any exciting financial history. 640 credit. But 3 years ag management experience. Anyway, is this...a thing? Could I offer the bank a percentage interest in the gravel rights (yes that conveys in the sale) for a guaranteed approval? On top of the fact that I already have a business plan showing that income from the other ag operations cover the annual payments?