I see ads from local banks and credit unions that they finance land and recreational property.
For example, the Northstar Credit Union in Cook...
Minnesota is a recourse state, so you can't just walk away from a mortgage anyway, so it probably doesn't matter too much whether you put up the land or a house as collateral, except possibly in the rate, depending on how you do it.
This trip went OK ,,, Lost a lot of tackle ,,, Had kicker issues ,,, Repaired my kicker and went back 10 days later ,,, Got more silver fish on the 2nd trip and a few lakers in the lo 40 inch range and a few hi 30s too ,,,, Covid may have kept the other boaters at bay but the landing at GP had a lot of empty trailers but we didnt see another boat on either trip ,,, Had a bull moose walk up on shore by the shelter at maybe 25ft ,,, Another cure for constipation at IR ,,, Looking forward to next years trip ,,, Auto pilot worked great just need to be quick watching the graph and raising the riggers
We've been hunting the same area around Mt. Iron, MN for the past 50 years. In all that time I could probably count on one hand the number of timberwolves I've seen while deer hunting, grouse hunting, camping, berry picking, 8 years of logging, etc. Wolves are elusive and not easily seen. That is until 2019.
Last year our group of seven hunters counted six wolves. I watched two walk past my deer stand, two guys saw two wolves while walking out in the evening from their stands together, and two other times single wolves were spotted. Could we have been seeing the same pair multiple times or six different wolves? Either way it was a lot of sightings.
This past Friday evening around 4:00 I watched four wolves walk past my deer stand. The next morning, my nephew saw one near his stand, one of our other hunters saw two wolves near his stand, and his brother counted seven at one time near his stand.
My nephew was talking with a guy he knows that works for USX steel and he indicated that he knew of at least three different packs in that area.
We definitely see fewer deer these days compared to what we've seen in past hunts.
In my experience banks want collateral that can be liquidated quicker than the actual land itself, but sometimes the local bank in the area might be more forgiving than your own local bank. Not much but some, in the interest of investing in their own area.
The other reason for more collateral is to make you have skin in the game making it harder to walk away from the debt if you change your mind on your want.
Either way, raw land can be tough on credit alone. I’d start calling your bank, the local bank up north and a credit union to start
One thing i'm super glad I did was take detailed notes on where the wiring is all located. Pictures with a tape measure and drawings outlining wire placement. Has save a-lot of headaches with updates (rattle reels, couches, beds, bottle openers, antlers, etc).