I would also assume no mineral rights are included.
Printable View
I would also assume no mineral rights are included.
You don't make money on undeveloped land.
Unless you lease it to an energy company, even if they don't get a well up. Otherwise, that is correct.Quote:
Originally Posted by spqrzilla
Bailey has a fair point, but creative financing is usually not much of a problem once you start looking into the issue. Will brother's friend be offering owner carry financing? Have you considered an exit strategy yet?
Buy it if you can afford it. They aren't making any more (or at least not much)
Its only an investment if you buy it cash since its an undeveloped acre. If there is a property on it w/ water and electric..go with USDA.. no downpayment. Otherwise, few banks will do 50% financing.
Quote:
Originally Posted by hghclsswhitetrsh
How much are other folks with the same size undeveloped land, seeing as a return on their land? If there's no development platted for that area, your buying it probably lessens the investment hit, someone else made.
He is making 35% in 10 years off of me. There is property of the same quality near by that is 33% more than what I'd be buying it for. He is doing this as an absolute favor. He is dividing up one large section to sell me a smaller section. The good ol boy network kinda stuff.
I've been interested in buying some land for a while. My goal would be to split it with a few friends and just have it for camping purposes. It'd be nice to be able to go up, build a quality fire pit, shooting area, etc. Just slowly over time make it how you want it. Plus, you'd never have to worry about finding a spot on those busy holidays.
Unfortunately, that doesn't make it an investment.Quote:
Originally Posted by sniper7
My mom bought a residential-size, waterfront lot on Table Rock lake near Branson, MO in the mid-60s. Price at the time was $2k, give or take, I think. She gave me the property in the early 80s after it was obvious the area wasn't really going to become what it was predicted to become (in terms of development, tourism, etc...). I've been to it once...it's just an overgrown, tick-infested chunk of land that costs me a modest amount in taxes every year (about $45). And with the way the water table varies due to the higher water usage with an increased population in the region, it's only occasionally a waterfront property now.
I've paid over $1300 in taxes on the place in 30 years. I can't even find a realtor who will accept the listing to sell it. It's not even worth what my mom paid for it. I haven't seen the place in probably 28 years. For all I know someone could've built a house on it.
Will that change? Maybe. But at this point I wouldn't consider it an investment. Hell...it's not even a good tax write off.
From the description it sounds to me like just a piece of pasture land? Can't build on it, can't hunt on it, can't fish on it, can't build a range on it, long ways away, only good for putting cows on? I don't think I'd mess with it, myself. Unless there's more to it than that.
I'd love to own some land, but it would have to be the right piece of land, something that I could get great use out of. The only way I'd want plain old flat prairie/pasture land is if there's a possibility of reselling it to a developer in the future.
JMHO.