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Post by span870 on Aug 17, 2020 17:20:20 GMT -5
Scenerio.
Zero debt. House, cars, everything payed off. Owe nothing to anyone.
Land adjoining my property comes up for sale. 62 acres that will put me up to 70+. With neighbors property I can run on I'll have close to 100 acres out the back door. Price isn't part of the discussion. It's a good price all needs to be said. It'll push back investments as heavy as I am. Still there but not the level. I'm 45 years old. Go back into debt for land. Discuss. To add, I live in the heart of Lawrence county. More public land than I know what to do with and very little pressure the properties I hunt. Wouldn't put me in a financial bind and already discussed with realtor friend that we'll more than make up for it if we sell. Nice not owing anyone but be nice to own more land. What would you do in my situation???
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Post by whitetaildave24 on Aug 17, 2020 17:30:42 GMT -5
If that’s the only debt you’ll have I’d go for it. Drop your investments down some, but that land purchase is an investment itself.
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Post by greghopper on Aug 17, 2020 17:35:30 GMT -5
Scenerio. Zero debt. House, cars, everything payed off. Owe nothing to anyone. Land adjoining my property comes up for sale. 62 acres that will put me up to 70+. With neighbors property I can run on I'll have close to 100 acres out the back door. Price isn't part of the discussion. It's a good price all needs to be said. It'll push back investments as heavy as I am. Still there but not the level. I'm 45 years old. Go back into debt for land. Discuss. To add, I live in the heart of Lawrence county. More public land than I know what to do with and very little pressure the properties I hunt. Wouldn't put me in a financial bind and already discussed with realtor friend that we'll more than make up for it if we sell. Nice not owing anyone but be nice to own more land. What would you do in my situation??? Buy it then lease it out to “US” trustworthy Deer hunters.... living that close you can watch is easily. Your be surprised to who maybe interested! Seriously....I differently not let it slip out from under you... and not let everyone on the internet know it’s for sale also. Just my thoughts
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Post by Deleted on Aug 17, 2020 17:36:08 GMT -5
2nd whitetaildave. Your age no question. Never know if available in your lifetime.
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Post by jjas on Aug 17, 2020 17:53:11 GMT -5
The fact that it abuts your existing property would be a big reason to buy. How often does that come up?
Good luck with your decision, but if it were me, I'd buy it and enjoy it while I was young enough to do so.
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Post by lawrencecountyhunter on Aug 17, 2020 17:55:55 GMT -5
Look at mortgage interest rates. Might consider borrowing against the house and scooping the land up with that cash.
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Post by Russ Koon on Aug 17, 2020 18:01:52 GMT -5
Definitely go for it!
Been saying for about forty years now that I sure wish I'd bought this or that piece of ground as I watched the prices consistently rise faster than the investments I was making.
They ain't makin' any more ground. It's only gonna go up.
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Post by span870 on Aug 17, 2020 18:06:00 GMT -5
Scenerio. Zero debt. House, cars, everything payed off. Owe nothing to anyone. Land adjoining my property comes up for sale. 62 acres that will put me up to 70+. With neighbors property I can run on I'll have close to 100 acres out the back door. Price isn't part of the discussion. It's a good price all needs to be said. It'll push back investments as heavy as I am. Still there but not the level. I'm 45 years old. Go back into debt for land. Discuss. To add, I live in the heart of Lawrence county. More public land than I know what to do with and very little pressure the properties I hunt. Wouldn't put me in a financial bind and already discussed with realtor friend that we'll more than make up for it if we sell. Nice not owing anyone but be nice to own more land. What would you do in my situation??? Buy it then lease it out to “US” trustworthy Deer hunters.... living that close you can watch is easily. Your be surprised to who maybe interested! Seriously....I differently not let it slip out from under you... and not let everyone on the internet know it’s for sale also. Just my thoughts I thought about the whole lease thing but I'd end up letting just about anyone that asked to deer hunt it. Don't shoot my rabbits though. It is an interesting deer property. Only crops within a mile.
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Post by freedomhunter on Aug 17, 2020 18:50:13 GMT -5
I've asked two adjoiners to my parke ground I own to sell or lease so I could have more to hunt where I am going to build. They wont even talk to me. Wild west. Luckily a have a big lease close. So, you know my opinion and I am in the same situation financially and 48 years old. Buy
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Post by treetop on Aug 17, 2020 18:55:55 GMT -5
Couple things to think about Does it have any income producing ways of helping offset the cost Logging farming sounds more like a woods a lease would be my last resort but that’s me You say your friend says it will offset when you sell and he maybe right but is your area in demand if not do you see that in 10 years 20 years How much has like ground gone up in your area In the last 10 15 years would that be enough to offset the interest your going to pay Plus Side I don’t think your ever going to see rates this low again There is also the fun factor in owning it and that’s a big plus I don’t know that I’ve seen dirt go down and stay down as far as value
One down side about it and investments you need to sell it to get your money back That may take some time could you survive the wait stocks bonds CD money markets most can be liquid in a day or two In the end you know your situation and obviously paid attention if you have everything paid off BTW congrats on that
I know that if any dirt around me came up I’d do my best to buy it so if you can I’d vote yes to buying it
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Post by genesis273 on Aug 17, 2020 19:01:02 GMT -5
Buy! They'll never make anymore land. And don't think of it as lowering your current investments but, rather, diversifying your portfolio. Land is a good investment. For you, your children and your children's children.
When our nation's debt finally bites us in the rear and grocery stores become a thing of the past, you'll have your own store in your backyard.
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Post by ukwil on Aug 17, 2020 19:38:47 GMT -5
Buy it. Im in a similar situation and for the life of me can't get my wife on board.
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Post by Deleted on Aug 17, 2020 20:19:31 GMT -5
Scenerio. Zero debt. House, cars, everything payed off. Owe nothing to anyone. Land adjoining my property comes up for sale. 62 acres that will put me up to 70+. With neighbors property I can run on I'll have close to 100 acres out the back door. Price isn't part of the discussion. It's a good price all needs to be said. It'll push back investments as heavy as I am. Still there but not the level. I'm 45 years old. Go back into debt for land. Discuss. To add, I live in the heart of Lawrence county. More public land than I know what to do with and very little pressure the properties I hunt. Wouldn't put me in a financial bind and already discussed with realtor friend that we'll more than make up for it if we sell. Nice not owing anyone but be nice to own more land. What would you do in my situation??? I just bought some land on a 15 year note with 15% down, the interest rate was 3.2%, can't get much better than that. Land never gets more plentiful only more scarce.
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Post by span870 on Aug 17, 2020 20:41:49 GMT -5
Couple things to think about Does it have any income producing ways of helping offset the cost Logging farming sounds more like a woods a lease would be my last resort but that’s me You say your friend says it will offset when you sell and he maybe right but is your area in demand if not do you see that in 10 years 20 years How much has like ground gone up in your area In the last 10 15 years would that be enough to offset the interest your going to pay Plus Side I don’t think your ever going to see rates this low again There is also the fun factor in owning it and that’s a big plus I don’t know that I’ve seen dirt go down and stay down as far as value One down side about it and investments you need to sell it to get your money back That may take some time could you survive the wait stocks bonds CD money markets most can be liquid in a day or two In the end you know your situation and obviously paid attention if you have everything paid off BTW congrats on that I know that if any dirt around me came up I’d do my best to buy it so if you can I’d vote yes to buying it It has about 20 acres that are being lease farmed now but I'm not sure that I'd want to keep it in that. I'd much rather have those 20 acres turned into crp type land for the what I'd be more interested in. Land around me has skyrocket over the last ten years. We have quite a few Amish farms around and they tend to drive the price up. From what I seen they will throw money at a chunk of land of they want it and most around here know that
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Post by esshup on Aug 17, 2020 21:00:49 GMT -5
What would you do in my situation??? What would I do? Buy it without a 2nd thought as fast as I could.
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Post by deadeer on Aug 17, 2020 22:29:48 GMT -5
What would you do in my situation??? What would I do? Buy it without a 2nd thought as fast as I could. No sh!t... If I was in that situation, I wouldnt even waste my time asking here. BUY!!! Who cares if you sell it in 5 or 50 years, you ain't gonna lose money! Enjoy it for as long as you want.
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Post by duff on Aug 18, 2020 4:28:33 GMT -5
Duh...buy it, set some stands, it will be easy to quit early on opening day when it is a 5 min walk
Lease the farming out for 5 yrs to help pay it off and then get available grant for crp or pollinator habitat or quail.
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Post by schall53 on Aug 18, 2020 6:54:53 GMT -5
Buy it, I guarantee that if you don’t, you will regret it the rest of your days.
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Post by featherduster on Aug 18, 2020 8:30:55 GMT -5
Buy it, I guarantee that if you don’t, you will regret it the rest of your days.
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Post by dbd870 on Aug 18, 2020 9:49:50 GMT -5
+2
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