How to justify buying a little piece of property?

[needmoredirt]

I'm gonna have to digest. While good stuff, "nobody had $.09", or maybe they do, I don't no.

Today's market is all screwy, w/bidone economics.

Need to make it pay me, don't need hookers/blow, deer, doves or feral pigs.

Can I say that w/out the bannage???

No desire to "sell and make $".

 

[thepumpguysc]

Don’t know your age.. it would make a difference in my/your decision making..
Neighbor offered me his land before he put it on the market..
I turned it down because I would have to take out a 15 year note..& didn’t wanna work that long..
He sold it for 30k more than he would have gotten from me..
I guess it worked out..??
He got paid and I retired..

 

[plowhog]

I have a long standing offer/first in line to buy the 5 next to me.

If you have not done so, you might consider formalizing that to become an option to purchase, or first right of refusal, that is recorded against the deed at the County. It would be customary to pay the parcel owner some agreed amount to add that encumbrance to the title. But it is done all the time.

I've seen many other folks who felt they had "handshake" agreements, and who expected to be first in line when the time came, instead get blown into the dust after future circumstances change. If your position is recorded on the deed you have more power.

 

[old and tired]

....the cost is an astronomical @ $35K per...

Someone from California is going to think that price is a bargain!!! Hate to say it...

Story time... My sister bought 10 Ac. at $100K from their neighbors, she had a horse business and the extra land was used a bunch for riding. Several years later someone was bugging her about buying it... she was using the land and ignored the guy several times when he was trying to buy the land from her.

That is, until one day the final offer for $67,000...

Yes that was for each acre. She sold and changed her business plan a little by building an indoor arena, and the company that bought the land ended up selling her back 2 of the acres for a dollar, since they didn't use all of it (large strip mall in Tulsa).

 

[bdhsfz6]

Back in 1978, I bought 6 acres from a farmer who was subdividing a 25 acre parcel. The going rate was $1200/acre back then. He offered me the entire 25 acre tract for $21K but I was building a house and couldn't afford it. Needless to say, he sold off the remaining 6 lots.

Fast forward to today and I now own the entire 25 acre parcel. Over the years, I bought up the other 6 lots as they became available. In total, it cost $260K for what I could have had for $21k.

Time and circumstance are cruel masters.

 

[MoKelly]

If that's the going rate for land in that area, keep in mind they aren't making anymore of it. You could plant it in hardwoods and leave it in your will to someone. The only reason I have more than an acre is to keep people away from me

This.

If the price is fair, I’d buy in a heartbeat.

The fact it adjoins your land is key.

 

[Jchonline]

I'm gonna have to digest. While good stuff, "nobody had $.09", or maybe they do, I don't no.

Today's market is all screwy, w/bidone economics.

Need to make it pay me, don't need hookers/blow, deer, doves or feral pigs.

Can I say that w/out the bannage???

No desire to "sell and make $".

10 acres in TX is not much. We have 150 in TX and it doesnt feel like much. At 35k an acre (If I understood) that seems way too high...any comps sold in past 6 months in the area?

 

[newbury]

Not sure where to post this, I'll try here.

10AC came up as a potential purchase, it's connected to where I live.

Love to have it, the cost is an astronomical @ $35K per.

I'm scrounging about how to get it to subsidize/justify the cost.

Not a place for food plot, cattle seems the only answer (might have a good cattle tank - no bets) . Initial research shows that wouldn't scratch the cost surface, market is poor (even for an experienced cattle rancher, let alone a nOOB - IDK)?

Thoughts, suggestions welcome and encouraged.

What are your goals?
Will the 10 acres plus your 5 make the 10 acres worth MORE, like will you be able to sell the 15 acres for $50K/acre?
My example -
Started with a measly 1/2 acre house and lot in Northern Va., bought ~70 acres in Vermont to retire to.
BIG whoops
Remarried
Got another house w/ 1/4 acre in Northern Va.
Started buying land in Mississippi where new wife was from, now have about 300 plus acres and 2 houses there.
Fifteen years ago I was shooting for a square mile of land in Mississippi and to retire there by 2015. But happily life got in the way.
So now I'm sitting with 4 houses, about 400 acres of land.

So tell us your goals, we will probably give advice worth at least ten times the cost.

 

[Skeletor]

What are your goals?
Will the 10 acres plus your 5 make the 10 acres worth MORE, like will you be able to sell the 15 acres for $50K/acre?
My example -
Started with a measly 1/2 acre house and lot in Northern Va., bought ~70 acres in Vermont to retire to.
BIG whoops
Remarried
Got another house w/ 1/4 acre in Northern Va.
Started buying land in Mississippi where new wife was from, now have about 300 plus acres and 2 houses there.
Fifteen years ago I was shooting for a square mile of land in Mississippi and to retire there by 2015. But happily life got in the way.
So now I'm sitting with 4 houses, about 400 acres of land.

So tell us your goals, we will probably give advice worth at least ten times the cost.

Holy crap!!!!!!!I have a 1/4 acre lot……..my wife and I would like a good amount of land someday. She wants something of a hobby farm. I’m 43 and she’s 36 so we got a little time but we’re in Connecticut and any amount of land around here isn’t cheap.

 

[needmoredirt]

My goal is to figure out how this is going to pay for itself, or at least a substantial part.

Don't need land buffer, this is noweresville, need it to carry some short term financial weight.

The market is all upside down right now, timing is less than desirable to be placing bets - this seems like a BIG bet. Flipping is out of the question...

You make $ when you buy, I won't be around when it's time to sell (kids can worry about that), in the mean time, how can it produce, what are folks doing? A head of cattle doesn't seem to pay enough to count w/such a small parcel.

10x the cost? I'm all ears.