John, it is possible to borrow against your land but I think a better strategy may be to pledge it as additional collateral when borrowing against the property you're acquiring. Since the land doesn't produce cash flow it would be a lot harder to borrower against it on its own, especially if there is not business plan for it.
Figure you'd probably get 50% LTV max credit on that land which may be even less since a lot of banks lost money on land deals. In the Midwest ag land can go for upwards of $15K/acre (has gone down somewhat as corn prices have gone down) but I figure $8K is probably more typical out west, assuming your land is out in Colorado. Either way, I figure 2,400 acres could get you a sizable amount of equity to bring to the table.
