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Post by whitetaildave24 on Dec 27, 2021 23:18:13 GMT -5
We bought 7 acres here in brown county and built our house on it. A 40x40 barn was already here when we bought it. All living space is to the south and our property has a creek bottom that borders the north. We hunt that creek bottom and have killed or at least had a chance to kill deer each year we have owned it. We have also killed three turkeys on our property. My son killed his first deer and first turkey here, so that makes it even more special. Never thought we could have that with just 7 acres, but it has worked out great for us. Nothing like walking out your door and heading to hunt your own property.
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Post by boonechaser on Dec 28, 2021 7:48:41 GMT -5
Nothing like owning and managing own property. 1st step is finding right property, then doing homework on it. Unless buying a large tract your neighbors are going to play a huge roll in successful management. I would recommend trying to meet several before pulling trigger. Worst case would be spending a bunch money on a property and having a A Hole neighbor to deal with all the time.
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Post by deadeer on Dec 28, 2021 10:39:11 GMT -5
Nothing like owning and managing own property. 1st step is finding right property, then doing homework on it. Unless buying a large tract your neighbors are going to play a huge roll in successful management. I would recommend trying to meet several before pulling trigger. Worst case would be spending a bunch money on a property and having a A Hole neighbor to deal with all the time. You own property or not, if you dont have at least one A hole neighbor you are living in a dream world. Lol
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Post by duff on Dec 28, 2021 11:31:17 GMT -5
Nothing like owning and managing own property. 1st step is finding right property, then doing homework on it. Unless buying a large tract your neighbors are going to play a huge roll in successful management. I would recommend trying to meet several before pulling trigger. Worst case would be spending a bunch money on a property and having a A Hole neighbor to deal with all the time. You own property or not, if you dont have at least one A hole neighbor you are living in a dream world. Lol All my neighbors agree with you!
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Post by greghopper on Dec 28, 2021 11:36:18 GMT -5
You own property or not, if you dont have at least one A hole neighbor you are living in a dream world. Lol All my neighbors agree with you! Yeah… your property is worth more then theirs you don’t have any A-holes living next to you 😊
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Post by duff on Dec 28, 2021 11:37:14 GMT -5
All my neighbors agree with you! Yeah… your property is worth more then theirs you don’t have any A-holes living next to you 😊 I keep looking for the guy but have not figured out who they are talking about.
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Post by harmonist34 on Dec 28, 2021 11:52:10 GMT -5
If you’re not paying cash, know that borrowing money for unimproved land tends to be more expensive since it’s not a traditional mortgage. You also need to factor in the opportunity cost of taking money that you have out of the market, where it might be consistently compounding at 7-10% a year (even more in our crazy recent market) and you’re putting it into land that likely won’t increase in value at anywhere near that speed.
I would love to own land but leasing just makes so much more sense financially.
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Post by duff on Dec 28, 2021 12:06:07 GMT -5
If worried about loss of investment $, Real estate is a way to protect against inflation.
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Post by Woody Williams on Dec 28, 2021 12:17:33 GMT -5
If worried about loss of investment $, Real estate is a way to protect against inflation. Yep, God is not making any more dirt..
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Post by steiny on Dec 28, 2021 13:13:06 GMT -5
We've bought several farms and pieces of ground over the years, so here's my two cents worth on your questions.
**How much property does someone need? If you want to deer hunt, I'd want a minimum of 20 acres or there is a real good chance many of the deer shot will run off and die on the neighbors, which can be problematic.
**How much is too much to pay? Have seen marshy ground go for as little as $1500 per acre in recent years, but typical "rough ground" for hunting generally tends to run in the $3-4000 per acre range. If it's got marketable timber, that will jack the price up some. Tillable farm ground can go anywhere from $4-10,000 per acre depending upon quality of soils, desirability, size, etc.
**How are taxes figured on a recreational property? Bare ground taxes are pretty reasonable, when you start adding homes and structures it goes up accordingly. We pay around $20 per acre on average for most of our farm ground and wooded ground. There are some great government programs (classified Forest and Permanent Wildlife Habitat) that will reduce your taxes on the ground considerably, but some terms and conditions come along with the deals
**Maybe some guys could share their experience with buying deer hunting land. Thanks for your time! We've owned ground since 1990 and it's been a great experience and a good investment. Personally, I would look for something that has some income potential as well as hunting habitat. Farm cash rent and CRP income is pretty nice and it will be there pretty much forever.
If you're just looking for a piece of hunting ground and aren't going to live there, then you should probably treat it like a "toy" and pay cash for it. Don't get yourself strapped to a a bunch of debt just for fun and recreation. As someone mentioned above, you can lease much cheaper.
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Post by parkerbow on Dec 28, 2021 16:30:54 GMT -5
All my neighbors agree with you! Yeah… your property is worth more then theirs you don’t have any A-holes living next to you 😊 Yep, That is the worse part of owning land is dealing with neighboring A-holes. They either ride 4 wheelers daily around or have dogs they let run wild all over place or they will put a stand 5 ft from the property line. There is always an A-hole around for sure no matter where you live.
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Post by buckbuster13 on Dec 28, 2021 20:03:25 GMT -5
Nothing like owning and managing own property. 1st step is finding right property, then doing homework on it. Unless buying a large tract your neighbors are going to play a huge roll in successful management. I would recommend trying to meet several before pulling trigger. Worst case would be spending a bunch money on a property and having a A Hole neighbor to deal with all the time. Doesn’t depend on the neighbors, you put your time in your going to be rewarded!
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Post by tynimiller on Dec 28, 2021 20:15:46 GMT -5
Nothing like owning and managing own property. 1st step is finding right property, then doing homework on it. Unless buying a large tract your neighbors are going to play a huge roll in successful management. I would recommend trying to meet several before pulling trigger. Worst case would be spending a bunch money on a property and having a A Hole neighbor to deal with all the time. Doesn’t depend on the neighbors, you put your time in your going to be rewarded! As someone who has had some incredible crappy neighbors this is true, makes it tougher but not impossible at all.
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Post by boonechaser on Dec 28, 2021 20:46:28 GMT -5
Doesn’t depend on the neighbors, you put your time in your going to be rewarded! As someone who has had some incredible crappy neighbors this is true, makes it tougher but not impossible at all. Ha,ha. I've read your posts in regards to trespassing problems.
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Post by elmucho277 on Dec 28, 2021 20:50:07 GMT -5
The way I see owning land is that it's almost like a forced investment in that your monthly payments build equity in the land. However, I think it's still a good idea to put as much down as you can afford to and pay it off as quickly as your budget allows to save on overall interest expenses. The current rate from Farm Credit on a 15-year loan for land is 4.2% as of a few weeks ago, which is pretty good considering..(I just refinanced with them from 5.6% to 4.2%). Sure you will probably make more investing in the stock market, but land values are not nearly as volatile as the stock market, plus you get to enjoy your investment. Land is a way to diversify your investments is my way of thinking. The difficult part will be finding a property at a reasonable price in this economy. Everything I have seen has nearly doubled in price over the past 18 months or so. Taxes on my Indiana land averages around $8.50/acre and that includes a mix of crop ground and woods. As said before, if you find something that has a decent amount of crop ground on it, leasing it sure makes it nice to cover taxes, insurance and other annual expenses. After looking at the conditions to have your property enrolled in the conservation easement or whatever it's called, I couldn't stand the fact that if you or any future purchaser of the property wanted to cancel the enrollment all the past tax savings would have to be paid back to the state/county. I purchased my first farm in 2000 and have grown to the point in my life where I enjoy making habitat improvements and trying new ideas as much as hunting deer. You usually do not have that freedom when you lease property for hunting. Best of luck to you with whichever you decide!!
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Post by span870 on Dec 28, 2021 21:19:33 GMT -5
Yeah… your property is worth more then theirs you don’t have any A-holes living next to you 😊 Yep, That is the worse part of owning land is dealing with neighboring A-holes. They either ride 4 wheelers daily around or have dogs they let run wild all over place or they will put a stand 5 ft from the property line. There is always an A-hole around for sure no matter where you live. Already told you, 5 foot or not it's on my side. My beagles can't read no trespassing signs, and I'm working with the 4 wheeler. Jeez
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Post by span870 on Dec 28, 2021 21:20:26 GMT -5
Yeah… your property is worth more then theirs you don’t have any A-holes living next to you 😊 I keep looking for the guy but have not figured out who they are talking about. I'm in the same boat. Feel its the guy across the street but haven't confirmed
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Post by duff on Dec 28, 2021 21:23:10 GMT -5
I keep looking for the guy but have not figured out who they are talking about. I'm in the same boat. Feel its the guy across the street but haven't confirmed I figure it's the wife. Still testing my theory
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Post by greghopper on Dec 28, 2021 22:05:20 GMT -5
I'm in the same boat. Feel its the guy across the street but haven't confirmed I figure it's the wife. Still testing my theory That will happen sometimes when they become Head of House! Beware… ha!
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Post by span870 on Dec 29, 2021 6:20:28 GMT -5
I'm in the same boat. Feel its the guy across the street but haven't confirmed I figure it's the wife. Still testing my theory Too much time on her hands is the issue. That firewood isn't going to cut itself. Next thing you know she's going to want you to do it. She wanted that degree in forest management, use it then. Edit: don't tell her I said that.
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