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Post by span870 on Oct 11, 2012 3:48:33 GMT -5
I have an opportunity to buy the property that I have been hunting for the last few years. It is around 200 acres. The property consists of mature hardwoods with deep rolling ridges. All woods and no fields. The property has been logged in the past and parts of it are very thick and nasty. Perfect bedding areas that hold alot of deer. We have killed several nice bucks off this property over the years with the average being 140s to 150s. The largest being 180. The property is in Washington county. There is also a 3 acre lake on it full of fish. There are some places to camp but would be primitive. No electric.
I can make the payments on it but some help wouldn't hurt. I am thinking about leasing it to two like minded hunters. What would be an appropriate asking price to lease the property to hunt. I know this could be a vauge area but a general idea on what guys are paying to lease a size of property like this.
Animals to hunt would be deer, turkey, squirrel, grouse, and an unlikely hog, which we have spotted several in the last few years, but wouldn't count on in any way.
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Post by Deleted on Oct 11, 2012 4:45:53 GMT -5
8 to 10 dollars an acre?
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Post by Deleted on Oct 11, 2012 5:02:26 GMT -5
Buying property can be very easy or very difficult. The very first thing you must consider is: Can you afford the property?? I've known several folks that find that piece of paradise then buy it only to find out they really couldn't afford it along with their everyday and yearly expenses they had before buying the land. Also you should be the only buyer as when you have others co-investing with you problems can happen especially when one of your co-owners decided they want out and sell their part. So if you go this route the you'll need to get a contract set up by an attorney covering several points of interest to all the other co-buyers. You must also consider insurance for your protection incase someone get injured on your land and ends up suing you. The property your interested in sounds good but since it was logged this might give you some leverage on negotiating a fair price, also point out that no electricty on site. Also it would be a good thing get to know the owners of property that boarders the piece of property you wish to buy.
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Post by oldhoyt on Oct 11, 2012 6:39:42 GMT -5
I think that's a great idea.
One thing to keep in mind though, is that the lease document should be VERY specific in its terms. There should be no doubt regarding leasees bringing others onto the property, and any other rules, and what (if any) penalties there would be for breaking any rules.
It's too bad it has to be this way, but I'm sure if you screen applicants a bit, you can identify guys that will not cause you problems.
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Post by bigballer on Oct 11, 2012 6:40:01 GMT -5
Are you planning to hunt this property too? 2 people on 200 acres is a little low and 2 people might not be able to afford the price. 4 people might be able to handle it. But I don't know your area and there might be some hunters your way that can afford it. if it's a good place they will pay. BB
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Post by featherduster on Oct 11, 2012 6:49:34 GMT -5
Some things to keep in mind when buying a piece of recreational ground.
Is it located on an improved road. Are there utilities phone electric nearby. Taxes. Is there a building site. Would your family like to live there some day.
Don't just look at it as hunting ground think of the future. And last but not least I would do it alone.
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Post by Deleted on Oct 11, 2012 7:50:06 GMT -5
Some things to keep in mind when buying a piece of recreational ground. Is it located on an improved road. Are there utilities phone electric nearby. Taxes. Is there a building site. Would your family like to live there some day. Don't just look at it as hunting ground think of the future. And last but not least I would do it alone. GREAT ADVICE!! You took the words right out of my mouth!! At one time I looked for land in Indiana even in Washington County and other Counties around SE Indiana. Didn't see anything worth what the owners were asking for in terms of Dollar Amount so I passed.
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Post by Deleted on Oct 11, 2012 9:00:49 GMT -5
It is getting very difficult to find even unimproved woodlots in Indiana for less than $2000 per acre. Most places are more like $3000 an acre. I shopped around for a long time before I finally bought my place this summer. Good luck. Sounds like a nice property. Hope you find a way to get it done. I am sure you won't have any shortage of people willing to help you out by leasing access to it.
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Post by Deleted on Oct 11, 2012 9:10:32 GMT -5
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Post by duff on Oct 11, 2012 18:55:35 GMT -5
Would you get the cabin too? That is a sweet honey hole for sure. Just start selling firewood by the truck load and in a few years you will be able to pay it off!
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Post by span870 on Oct 11, 2012 19:01:13 GMT -5
Of course i'm planning on hunting it bigballer. Thats just crazy talk. ;D
Anyway the land in question I can get for below market value. After looking at some of the properties on the websight that hunterdoug posted, WAY below market price.
As far as electric, it is there. Just not ran to where I would eventually build at. The landowner has a cabin there that I would leave to him and he has electric and phone to it.
The price I can afford and it wouldn't put too much of a dent in daily living. Just thought that if I could find some like minded people to lease the property it would free up that much more money to do improvements on and pay the property off quicker. And I agree with everyone. Its alone or not at all.
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Post by Deleted on Oct 12, 2012 5:46:50 GMT -5
Anyway the land in question I can get for below market value. After looking at some of the properties on the websight that hunterdoug posted, WAY below market price. The price I can afford and it wouldn't put too much of a dent in daily living. Just thought that if I could find some like minded people to lease the property it would free up that much more money to do improvements on and pay the property off quicker. And I agree with everyone. Its alone or not at all. Glad that website I posted was some help. As you stated the prices were below market value, so it's a buyer's market. Don't think you should lease it out though as that could cause problems plus might increase your insurance premiums, not to mention leasing could invite unwanted hunters that could cause problems. Buy the property for yourself & family to use & enjoy.
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Post by bigballer on Oct 12, 2012 6:23:59 GMT -5
I didn't know if you had another place to hunt that was just as good and wanted to lease it for say 5 years to help pay it off. I agree with some others that leasing it might not be a good thing. Although if hunting by yourself 200 acres is a lot and hunting it would be hard because of no pressure in some area's. But if I were you and paying it isn't that big a deal. I would pick up a hobby of odd jobs. Like umpiring baseball games or softball games or doing basketball games. It's one of the things I do to make some extra cash. I do 20 basketball games a year that's over $1,000 in the pocket. Helped me buy a boat. Softball games are the way to go. In the spring you can do Saturday games and make $20 a game. 10 games $200. And your not doing much. Keeps you in shape or what not. Might not be worth your time but just a thought. Puts about $2,000 in my pocket every year and helps me when I want to buy something extra like a new bow or gun.... And that would give you that $2,000 that your looking for to buy stands and foodplot material and such... Me I couldn't lease if I wanted too... I have 3 brothers a dad and a sister that hunt with me... They would shoot me if I said no leasing it out this year... LOL.. BB
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