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Post by jackryan on Apr 5, 2017 13:39:13 GMT -5
There are lots of factors that need to be considered before you purchase land such as. 1.price 2.taxes 3.can I build on it. 4.how close are utilities if not how much would it cost to bring them to a proposed building site. 5. neighbors how do they use their property. If your neighbors are a determining factor, you aren't buying NEAR enough ground and you are going to get screwed eventually. If they are a big part of your decision, YOU HAVE TO BUY THEM OUT TO. Then rent it so you can throw them out when you get fed up.
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Post by jackryan on Apr 5, 2017 13:44:51 GMT -5
No matter what size of property you purchase a big factor to me is what are adjoining neighbor's like?? Do they hunt, farm, lease property, have pet's or livestock??? You can have a great property but with a lousy neighbor making your hunting horrible and land ownership more of a headache than a blessing. Before deciding to purchase my wife's family farm I moved us there for a couple year's, became friends with neighbor's and had numerous conversation's with all the adjoining landowner's before deciding to pull the trigger and buy property. Our farm is 140 acres but I have access to 2 of the adjoining farms which receive very little hunting pressure. Off course there is always one bad apple so to speak. The neighbor whom owns 75 acres doesn't hunt but use to let anyone hunt. I believe at one time there were 18 different people hunting his property. I have since became pretty good friends, bale some hay for him and through conversation's have got him to only allow 6 people to hunt this past year. I even offered to lease his 75 acres for $1,000 year this past winter and he said he is going to offer the property to 1 family for same price $1,000 (4 people) if they won't lease then I can have the hunting rights. To be honest I doubt I would hardly hunt the property but it is a war zone during firearm's season. It's worth it to me to just have less hunters in the area. Land ownership is great if you can afford it. Neighbors change. They die, divorce, get new friends, start using drugs, or have kids and grand kids who do all that. They put a stinking turkey farm, they start fires and burn their place down, they move in trailers and junk yard or they rent the place out to people who do all that. Never pay extra or buy just because of the neighbors. You aren't buying the neighbors.
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Post by Jamie Brooks 1John5:13 on Apr 5, 2017 13:47:07 GMT -5
I like fried baloney.
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Post by jackryan on Apr 5, 2017 13:51:43 GMT -5
Borrowing against ones' 401K or IRA, for purchasing hunting property, is a VERY BAD IDEA!! Â Â Explain how this is a BAD Idea....Do tell BTW....your basically paying your self back! IF you don't have the cash to pay for it, you can't afford recreational items. Period. Gun collections, target practice,fancy cars, motorcycles, hunting lands, those are all RECREATIONAL ITEMS. Calling them "investments" is just what fools tell their self who are waiting on their fat inheritance.
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Post by Woody Williams on Apr 5, 2017 13:55:55 GMT -5
Me too... nice and thick..maybe even German baloney...
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Post by swilk on Apr 5, 2017 13:56:15 GMT -5
IF you don't have the cash to pay for it, you can't afford recreational items. Period. Gun collections, target practice,fancy cars, motorcycles, hunting lands, those are all RECREATIONAL ITEMS. Calling them "investments" is just what fools tell their self who are waiting on their fat inheritance. I disagree with that.... Nothing wrong with paying for something over time.
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Post by throbak on Apr 5, 2017 13:56:47 GMT -5
My first farm Neighbor died and his 80 now has 21 doublewides and 5 different owners on other Rd due to a death I was lucky to be able to sell out to someone that that didn't matter Where I live now property came up for sale I now controll who does what and now pick my neighbors So what jack is talking about is very true I've lived it Wade can vouch about my first farm To and for me it was ruined I moved on Bought the end of a ridge not the best hunting but not much of a neighbor problem
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Post by jackryan on Apr 5, 2017 14:00:52 GMT -5
IF you don't have the cash to pay for it, you can't afford recreational items. Period. Gun collections, target practice,fancy cars, motorcycles, hunting lands, those are all RECREATIONAL ITEMS. Calling them "investments" is just what fools tell their self who are waiting on their fat inheritance. I disagree with that.... Nothing wrong with paying for something over time. Not at all. How else are bankers going to get their recreational items if YOU won't pay for them? They sure as heck aren't getting real jobs.
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Post by swilk on Apr 5, 2017 14:05:57 GMT -5
One might even argue that it's more foolish to pay cash for something ... depending on the variables of course.
For instance, if I have $40,000 sitting in the bank, and I want to buy a car, if the bank will give me an interest rate of 2% and I can put my money somewhere and earn 3% I'm better off borrowing.
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Post by welder on Apr 5, 2017 15:04:07 GMT -5
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Post by steiny on Apr 5, 2017 15:05:23 GMT -5
I've bought four pieces of farm ground in the last decade, and pretty closely follow the market. Here's my experience.
The junkiest, crummy swampy, brushy ground around still fetches $1500-3000 per acre. The very cheapest tillable farm ground starts out at around $3000 per acre with the best stuff topping out around $12,000. Good tillable ground probably averages around $7,000 per acre around the state. $200 Cash rent is only paid for real good ground, average is more like $125-150. Ground has historically risen over the long term, but land price follows commodity prices and it's gone down in value in the last five years since $7.00 corn went away.
It's still a good long term investment, but don't expect high returns. Let's play with a 100 acre piece 50/50 wooded & tillable. Say you buy it right $5000 per acre for the tillable, then $3000 for the wooded, total cost = $400,000 If you put 20% down and borrowed the rest ($320,000) at 3% for 20 years you have $21,300 annual mortgage expense plus taxes & misc., plan on $25,000 annually.
If you do happen to get $200 cash rent you bring in $10,000. You might log the woods every 20 years too and net $20,000 one time, or $1000 per year. $25,000 Expenses minus $11,000 income per year = $14,000 out of pocket per year ($1167 per month)to own this ground.
If you pay cash for this ground $11,000 income from a $400,000 investment is only a 2.75% return. Better than CD's are currently doing, pretty safe, and fairly easy to sell relatively quick, but certainly not a barn burner investment.
Note that none of this factored in a home on the property. That will only increase the price / expense.
I would still encourage buying ground for the enjoyment of using it and as a long term investment, but you better have a hefty down payment to minimize your debt or pay cash, because this stuff doesn't pay for itself.
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Post by Woody Williams on Apr 5, 2017 15:16:51 GMT -5
Hmmmm .. something to ponder... Going out on a limb here, but I'll go with an unqualified yes..
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Post by Woody Williams on Apr 5, 2017 15:22:02 GMT -5
What kind of bread and fixins?
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Post by featherduster on Apr 5, 2017 15:45:59 GMT -5
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Post by Woody Williams on Apr 5, 2017 16:13:09 GMT -5
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Post by Jamie Brooks 1John5:13 on Apr 5, 2017 16:40:58 GMT -5
What kind of bread and fixins? LOL
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Post by Jamie Brooks 1John5:13 on Apr 5, 2017 17:29:27 GMT -5
What kind of bread and fixins? I really like it on an egg sandwich, baloney fired with brown crispy edges, and throw on a piece of cheese ...yum yum
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Post by featherduster on Apr 5, 2017 17:37:12 GMT -5
I like fried spam with mayo on a burger bun, was always fun to cook in the duck blind.
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Post by nfalls116 on Apr 5, 2017 17:59:42 GMT -5
Me too... nice and thick..maybe even German baloney... youtu.be/g0mjcMgRmyEAlan Jackson likes it too Me too with cheese prefer fried also
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Post by Woody Williams on Apr 5, 2017 18:17:35 GMT -5
Anybody tried a grilled baloney and cheese sammich?
That would be good!
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