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land ownership

Old 06-17-2006, 07:41 AM
Giant Nontypical
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Join Date: Feb 2003
Location: Gambrills Md US
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Default RE: land ownership

kevin, It is $25,000 for 100 acres, or $250 per acre. I'd go for it, but make sure you have right of way and as someone above mentioned, all the rules are agreed upon with you and your partner before you buy. Worst case scenario, you have to sell. Seems to me at that price, it will only go up in value.

When I bought my property that is almost 4 hours away, I was trying to figure out how much I could afford. I had the option of buying as much of an adjoining property as I could manage. Anyway, I went for a chunk of the adjoinging property, but wish in hindsight I had bought even more of it. Generally, wages increase over time, so you will be able to grow into it pretty easily. This is especially true withonly $25,000! If I were you, I'd borrow $27,000, get the laser surgery and buy the lot.
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Old 06-17-2006, 10:45 AM
Join Date: Jun 2006
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Default RE: land ownership

First I would say you should think about your job. I don't know what type of job you have but if you hate it, then you can't truly enjoy the rest of your life. I have a friend that I go to church with and he got fed up with his regular job. He started a weekend business, where he travels to various weekend craft shows and sells food from underneath a tent. Now he travels about 20 weekends a year and makes more money than he did at his regular job. I know have tried this when I need extra money and have made as much as $2000.00 profit in one wekend before and I only sold just a small variety of food items. One reason I don't do it more is I know this is something I would not want to do as a regular job. Anyway my point is if you are not happy with your job and you think you may move at some point then I would say don't buy the land, but if you think you are going to be living where you would use it then buy it, the price is great. But make sure you have a perment way to access your land. Just my 2 cents.
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Old 06-17-2006, 12:29 PM
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Location: Rhode Island
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Default RE: land ownership

I'd buy it but not as a partnership. For me in business that has always turned around and bit me
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Old 06-18-2006, 06:16 AM
Join Date: Nov 2005
Posts: 4
Default RE: land ownership

I purchased my first 15 acres for $42,000 when i was 25 now I am 26. I had a CD mature and didnt know what to do with it. I didnt want to blow it on a new car or something stupid. I sold it last year for $62,000.We then turned around purchased 22 more acres of great hunting land lots of deer,mountain lion,bobcat,Rabbit, and Ducketc.. Of course we paid way more than $62,000..

DOnt get me wrong owning a home is he best thing I could of done.Ive figured owning a home their is no real savings vs. renting in ashort 3-5 term once you consider the interest on the loan, taxes, upkeep..I wished we kept renting till we found a place we really wanted.

Dont go buy a new truck go get ya some land.That way later in life you will have a reason for owning a truck!
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Old 06-21-2006, 10:05 AM
Join Date: Dec 2004
Location: SC PA
Posts: 27
Default RE: land ownership

The price of land will not go down. They are not making any more.
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Old 06-21-2006, 10:13 AM
Giant Nontypical
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Location: Northeast Tennessee
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Default RE: land ownership

buy and then sell it for profit
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Old 06-21-2006, 11:09 AM
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Join Date: May 2003
Location: Ramsey , Indiana
Posts: 22,545
Default RE: land ownership


kevin, It is $25,000 for 100 acres, or $250 per acre.
[] Never said I was a math geek , and a dozen wobble pops didn't help curb my enthusiasm either .
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Old 06-21-2006, 11:20 AM
Join Date: Jun 2006
Posts: 56
Default RE: land ownership

I agree with what everyone is saying about the legal aspects of everything get EVERYTHING in writing,thats the most important thing in my opinion.around here people are givin away trailers left and right,we gave ours away after our house was done.cant be any worse than the basement.gettin our land was the best thing ever to happen in our lifes,its alot of work and we're broke but we love it.
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Old 06-22-2006, 03:12 PM
Fork Horn
Join Date: Feb 2003
Posts: 294
Default RE: land ownership

"Now I'm faced with a very big decision, take a loan for $25,000 to buy 1/2 (100acres) of bush that I've been hunting for 15yrs (with no road or water access), or basically get pushed out and use what we have for waterfowl only."

Don't want to be the naysayer but consider,

no road or water access. Basically your saying this land will always be worthless. YOu need road access so that at some time in the future it may actually be worth something. Without road access forget the deal. You ain't rich enough to be buying land strictly for recreational purposes. The option that it may be developed must exist for the land to increase in value even if you have no intention of developing it. DEMAND a road easement and utility easement or no deal. As it is you can't even put a house on the place.

Seems like your talking about getting this landstrictly for hunting and not even as an investment(as stated above). IF so consider a lease as you aren't getting any more rightsthan a standard hunting lease would provide.

Forget the partner stuff,you buy 100 acres and your friend buys a 100 acres.Get the survey if needed or use an older one. Taxes etc will all come in the future and risk a possible falling out. Also you areprobably being pushed into this deal in order to carry your fair share by your friendas you been freeloading off his investment for a number of years. He may start expecting you to pay a little bit more of the taxes and costs etc since you also hunt his other land and it will create friction when he sees you paying half the tax bill that he is and getting all of the same benefits,(just human nature). Keep it separate so that you maintain your friendship.

Finally, Look around and see what 25k buys in other areas in the same vicinity or distance from your home that aren't landlocked. If your going into debt for land you owe it to yourself toget the best value for your dollar and this may or may not be it. Maybe your land should be in a different area so that you guys have more places to hunt, no friction with your friend,and the investment potential of the landis greater even if you don't get as much land. Maybe its better to get 50 good acres instead of 100 lousy ones.

Good luck and hope it works out for you whatever you choose. get a lawyer.
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