buying land with others?
10-06-2010, 10:53 AM
#13
Typical Buck
Join Date: Nov 2006
Location: MO
Posts: 643
My dad and I went 50/50 on some land. The original deal was I would pay off my half and then buy the other half off him. A couple years later, another small piece of land that joined us came up for sale with a trailer on it. My dad bought that himself. That's cool. I thought I would just buy that from him when I paid my original half off. It took me 5 years to pay my half off. Then dad decided he would just sign his half over to me and my brother and sister and it would be a place where the whole family could hunt and ride four wheelers and horses. No thanks. Luckily, some one made us an offer for the land that we couldn't refuse and we sold it.
I won't partner land with anyone ever again because, eventually, some one will have a different idea of what's best.
I won't partner land with anyone ever again because, eventually, some one will have a different idea of what's best.
10-06-2010, 01:03 PM
#14
Typical Buck
Join Date: Dec 2008
Location: N/W WI.
Posts: 814
If you do it, make sure it is an equal ownership. Do NOT have one owner own more shares or value. Too many friendships have been ruined because of the majority owner. I myself would never own a partnership cause a certain few always end up doing all the work. As others have said, if you do this , have an attny. draw it up legal and right the first time.
Good Luck!!!!
Good Luck!!!!
10-06-2010, 01:57 PM
#15
Banned
Join Date: Sep 2010
Posts: 220
If you do it, even if it's family members, incorporate it. This will protect you from liability. If someone gets hurt on your land, they can sue you which will not only cost you that hunting land, but you could lose your personal property as well (e.g. savings, house, etc). Also, incorporation protects you in the event that someone gets a divorce and their ex-wife tries to get a piece of the property as part of the settlement.
10-06-2010, 05:55 PM
#16
Spike
Thread Starter
Join Date: Aug 2010
Location: nw pa
Posts: 45
One reason i would like to buy land with others is because i am already a landowner in another state (ny). I want the guys that have helped out over the last ten years on my property to be able to own some land as well and return the favor. Then they will have a reason to help out (other than just being a nice guy)and protect their investment. I would also like to own some property in pa and not have to sell the ny property located 20 min from home. Most land in pa would be about 1 hour from home. Which would mean no evening hunts on a whim. The main factor is the price. Pa land is about 1000-1500$ acre (more if not recently logged). There is no way just one of us could buy 100-200 acres alone. The cost of leasing is rapidly increasing was 6-9$ acre now 16-19$ per acre. If you don't lease or hunt game lands you won't have a place to hunt. Just some rough figures with 5 guys we would invest 7000$each . Then pay 1400 per year each for 15 years for mortage/ins.,taxes ect. Until the mortage is paid off then 300$.
Last edited by skillet01; 10-06-2010 at 07:33 PM.
10-07-2010, 04:24 AM
#17
Fork Horn
Join Date: Dec 2008
Location: Wisconsin
Posts: 320
Every situation is different, and I'm sorry that it didn't work out for you. I have a couple of family members that did this years ago and it's worked out just fine.
10-07-2010, 09:02 AM
#18
Typical Buck
Join Date: Nov 2006
Location: MO
Posts: 643
One reason i would like to buy land with others is because i am already a landowner in another state (ny). I want the guys that have helped out over the last ten years on my property to be able to own some land as well and return the favor. Then they will have a reason to help out (other than just being a nice guy)and protect their investment. I would also like to own some property in pa and not have to sell the ny property located 20 min from home. Most land in pa would be about 1 hour from home. Which would mean no evening hunts on a whim. The main factor is the price. Pa land is about 1000-1500$ acre (more if not recently logged). There is no way just one of us could buy 100-200 acres alone. The cost of leasing is rapidly increasing was 6-9$ acre now 16-19$ per acre. If you don't lease or hunt game lands you won't have a place to hunt. Just some rough figures with 5 guys we would invest 7000$each . Then pay 1400 per year each for 15 years for mortage/ins.,taxes ect. Until the mortage is paid off then 300$.
10-07-2010, 09:13 AM
#19
Fork Horn
Join Date: Nov 2007
Location: Upstate New York
Posts: 411
Who has that kind of time to read that post ????????? Do you work in a library with an internet connection?? Close to 200 post in a month...most of which are, well........
Sorry I digressed:
As soon as someone gets in trouble financially, the agreements go out the window and so do the friendships.
Sorry I digressed:
As soon as someone gets in trouble financially, the agreements go out the window and so do the friendships.
Last edited by *twodogs*; 10-07-2010 at 09:25 AM.
