i recently had a big upset in my life, and my plans. lost a huge chunk of my income, and in the process i had to sell my land, ( 120 acres). i was really devistated, and had a hard couple of days... it didnt last long though, life changes quickly, but IMHO its what you do with life that counts. this was a iv got lemons.... and i made lemonade kind of deal.

i had to sell the land due to a financial disaster. i had bought that land at a certain time in my life when i was alone.... but soon after was dating someone who was amazing. te land was a hour away, and difficult for me to make payments on... and make improvements. i had plans for the near future, but they fell apart.... its sucked.

well.... heres what happened in the last 26 days.

1. lost a large chunk of income.
2. had to sell the land................. AND I SOLD IT IN 5 DAYS.
3. i got all of my money back out of the land...... and will be using part of it to pay off every bill i have..... everything...... down to dumping att cell plan, and going to a walmart cell phone.. ... so... i will be debt free in a couple weeks.

4. i found 15 acres of land, a few miles from my house, thats centrally located to my gf's family, and my friends...... its wooded, quiet, and perfect. i got it for a fair price, and will be signing the contract on it later this week. ( yes, its another land contract... no bank financing )... this new land has two hills perfect for building homes. and im planning on building a in ground house.. approx 5 acres used to be a farm field,( the middle, that also has a small creek)  the field is grown up with arm sized trees. ( which will be stupid easy for a dozer to clear in a single day).....there is already a well established gravel road going right to the building site, that is in a heavily wooded area approx 400 yards off the paved road... so, theres lots of privacy. ... i will clear the over grown 5 acres, and have my mini farm.... yard, orchard... small pasture.. its got a creek, and best of all.. its 3 miles away... vs 45+ miles,  payment is 1/2 as much and i am planning to have it paid off and be BUILDING a house on it within 18 months ! ! ! ! ! ! ! ! ! ! !  i will be clearing the field area in a few months max, to get food plots in while its spring.


now, of course tings could still fall apart...... but im supposed to sign a contract this week.   please pray for me guys.... iv got my fingers crossed. ! !


i just wanted to post this, because sometimes something that might look like a disaster to you at first,, can actually be a blessing.  my loss in income.... will be more than made up with losing the big land payment..... (it was basically the exact same amount)....... the bills im paying off.... basically equal the new land payment..... and the new land is less than 5 minutes away, door to door.... i can even drive my tractor right to it from here, i dont even need the trailer..... it came up for sale right about the same time i got the bad news. and i will be totally debt free... ( except for  monthly living expenses, and the new land payment... which is on a 2 year loan plan).  


you guys who are having problems, dont give up hope.... things can turn around and be great at anytime.

Words to live by.     One door closes, another one opens.    What did the 120 Acres sell for?    Pm me plz, I'm just curious, since I've been looking.

land around here can be cheap..... heres a good example.


heres 53 acres for $80.000.    i have seen a lot selling for around $1000 a acre.

http://www.landwatch.com/Ohio-County-Kentucky-Land-for-sale/pid/310243373

Glad to hear things look to be working out for ya Buck. I was just checking your other thread to see if you had posted any updates since you found out you were going to have to sell..

Keeping it positive when surrounded by negative is a battle of the mind.  Glad you chose to stay positive.

helluva deal, bud.

good attitude, though.

just keep your azimuth and you will be fine.

Trying to say this as nicely as possible ... if you had to sell that land immediately after losing a partial income stream, it sounds like you were severely over-reaching (and had zero mitigation plan) and this likely was an inevitable outcome.  

Frankly, you're super lucky you were able to get your money out of it on such short notice.  Many have taken huge losses trying to liquidate assets when they are motivated sellers.  

Learn from it and move on, we have all had setbacks in life and plans that changed suddenly.  No disrespect meant in this post.  

I also agree that a positive attitude goes a long way.

Good on being able to make lemonade.  Being closer will be nice.  Good luck.

words to take to heart

Buck  I always read your threads everything from your gun posts about the augs to your tractor trade and land. I'm also a native of kentucky. I'm glad to see your landing on your feet brother. Keep on keeping on.

Buck I was sorry to read about your loss. I always enjoyed reading the updates as you went, as that is my dream to have a nice large parcel of land too.

I'm glad you've gotten things uprighted and have found a new location, that while not as large is closer to your current location.

I look forward to seeing a thread on your new location and progress of improvements for it.

MarfFL

Glad you can still smile at it all.  

+1 you need to consider keeping a cash emergency oh shit buffer fund.   I'm glad you could liquidate the property in a timely manner but what if you couldn't? or you could only do it by selling at a huge loss?  Some extra cash stashed to float you long enough to find a good deal with a buyer is what I'm talking about.  I like a 6 month cash reserve.   This sale and change sounds like a push and a blessing in the right direction.  But what if you had really wanted to keep the original farm because it did work for you.  

Ok enough of that, keep us posted on building the new Kingdom19D.

Sorry to hear about the problems, I've been following your other thread. Glad to see the good attitude in a tough situation. Best of luck on the new land.

Stay positive my friend, its called life. We all go through ups and downs.
FerFAL

14 years ago my income went down to damn near nothing for the better part of a year.

I was blessed to have paid for houses and land, food in storage and on the hoof, paid for vehicles, a small solar system and some cash put aside.

Had we had a mortgage on a larger piece of land, we would have been SOL.

People ask on internet forums all the time about land. And you hear the people that complain about moving 1/5 an acre in suburbia say they want 100+ acres. I think to myself- they have no idea the amount of work that is on a regular basis. And if God forbid, they take on a mortgage, how that piece of a "dream" could OWN THEM really easy.

We struggled for a few years, started another business for more regular income and later again began another business for an additional income stream. We got completely debt free and only later added more to property.

Slow and steady wins the race. This life isn't easy and it isn't for everyone.

You'll never be happier than when you are debt free. Congrats.

Be careful signing another contract without a CUSHION of income ----or you may be EXACTLY jumping right back into the 'land-poor' scenario you were so lucky to get just out of...

+1

Good luck Buck!

This could not have been posted at a better time for me to read, Buck. Thank you, Congrats, and you will be in my prayers tonight.

sorry you had to deal w/ that
but sounds like you made the best of it & will be better off in the long run now

Wow... just seen 99 acres for 79K....

Those are 1995 prices around here.

I would assume cut over timberland. Lots of work to get that cleaned up and re planted.

God provides us with what we need.  Keep the course brother.

Do we get a picture thread of the new land?

Not to hijack, but I am (I'm afraid so). I'm in real trouble bros. I'm in real trouble and I can't catch a break and don't know what to do.

You make your breaks. What kind of breaks do you need?

My major malfunction for the last 15 years is being chronically under valued. I get frustrated just getting by when I should have life by the balls. I have a great life but I have had a very hard time converting ability into income. Now I work for a wonderful company that really knows my value and I know I will make great money someday. Patience is not my strong suit.

I asked one former employer for a $50k a year raise. They lost $3 million in profit in one year just to keep from paying me what I asked. Story of my life.....

I had an earlier thread, where I described how my wife left me at the same time I got fired from my old job. At my new job, last month, one of my arms got hurt last month, then the other got hurt a couple of weeks later. I spent  a week in the hospital. My boss was out for the last 3 weeks. When my boss came back today, I was told I was on "indefinate leave until my arms healed." I can do my job now, so I don't know how to prove a negative. So, very soon I will be very screwed.

I was wondering how that worked out for you. I lost track of the original thread.

Glad it's working out and things are coming together for you.

Good Luck!

i guess i can go ahead and show it... im going to sign the intent to buy contract tomorrow, and put the deposit on the land.

here it is. prop lines in red. left side is basically the cornfield. right side is the gravel road, ( you can barely see it running just inside the right side prop line i marked, its in great shape, and ready for heavy equipment),  it runs the length of the right side of the property, and is a easement.. it serves my property, and the hunting camp at the end... 50/50 responsibility for road upkeep costs......its a private gravel road with a gate, the gravel road is the right side prop line.

the buildings at the top near the prop line, is a hunting camp... with a cabin, and a equipment shed, ( its approx 60 acres). no one lives there except hunting season.

my building site will be right about where the small clearing is located, at approx the top center of the property.  it is a hill side at that spot, and it would be perfect for a in ground house.. (which is what i really want to build..)

this will become a new buck19delta build thread in the next couple of days, once i sign the contract tomorrow. but, it will be a lot different than the last one. it will go much, much faster. it will go faster... because i am going to be working hard all summer to make it ready for me to move onto it and homestead it.

1. around march....i will clear 3-5 acres around the home building site, clearing up the original crop field, you can basically see it on the map, its the lighter color trees in the shape of the letter D, ( the trees there are basically worthless gum trees).they are all small, approx 4 -6 inches thick, and easily cleared, and i expect to be able to clear it in 2 days or so ......i will clear everything except a few ( only a handful are worth keeping in that 3-5 acre spot)..( oak / maple etc).  i will not cut anything on the other approx 10 acres.

2. during the summer, i will be working hard to get utilities ran to the site, and  a septic system. i will get this done at the latest by march 2016.

3. somewhere, between october 2015, ( when my lease is up), and march 2016......i am going to buy a cheap construction trailer office.( because they are cheaper than a camper, and many i saw had a bathroom, just needed a shower and washer dryer added))....... also, i will probably buy a 20' conex for secure storage of household goods / tools... and a metal carport.

4. i will move to the site,and be living on site..... and turn my monthly rent money.. into land improvements / payments, and savings for the house construction........

5. i will start construction on a house... in 2016.    and live on site however long it takes to finish.

thats my plan at the moment.... i will be working hard to make this happen, so i will have a busy summer.

Keep up the hard work!  

Also, stop blowing money!  A lot of your posts are about how you are buying XYZ and another XYZ.  Keep your expenditures down and focus on what's important....getting stable housing.  I mean that nicely so sorry if it came off as mean.

your not wrong. everything from now on will be.
1. paying bills.. ( 99% covered by selling the land)
2. saving money....
3. buying gear and things i will need to live on the land...

im gearing everything towards that move onto my property either late fall.. or early spring. not doing much else spending wise. i will be selling some junk i dont need. looking for a 20' conex for storage.... and probably a fema type trailer... ( really small mobile home) to hook to utilities and live in.

im making a list. spending will be.

utilities.
a day of dozer work
couple loads of gravel
couple tractor implements
20-40' conex
a fema type trailer
wood stove for heat
generator

those kinds of things.

i have some expensive guns, i am considering trading towards these things... example... sig p220 dark elite.... trade for a glock 17, or glock 21, and cash.... or sell for generator money.... etc.

ill be hunting deals on craigslist all summer long for things i will need.

This sounds...  Familiar...  

+1

It looks like your building site will be a good clip from the road...  Huge cost factors to consider:

Building a road, maintaining and plowing that road in the winter if you get snow, or keeping it properly raked and ditched during the wet season.

Running utilizes/ power/ water..  If these not that then installing a well and septic (costs tens of thousands of dollars to do these things.)

Not to pour salt in the wound or anything but I have to agree with EXPY37 here and say you may be jumping into the fire to soon.

Have you considered a realistic building plan with this property so you can actually move to it and enjoy it.  I know your all about building a house into the land but unless you have extensive experience with this its going to be a learning experiment, and the learning experience should not be had with your lively hood IMO.

Maybe toss up a double wide or small modular home not to far from the road that way your actually living on the land your paying for and then once you get debt down you can slowly work on building a bigger or better or different style home like you want further back on the property.

I am not that old but have worked in excavation and construction for years, as well as the public safety sector...  Sometimes you just need to stop and check yourself and look at the big picture, and decide if what your doing is realistic or even smart.

I lived in a double wide for years.  I was proud of that house then, and still am now.  Nothing wrong with a trailer, and when it sets on several of your own acres its that much better!  You move up and on when you can, and if not just remember you have your own place and your own land, better of then a good percentage of people in this world.  Heck if you have more then two changes of cloths and don't have to worry about where your next meal is coming from your doing better then many in this world.

Maybe consider hooking up with a local builder or excavation worker, who does that stuff for a living and get their advise, estimates, ideas, suggestions and go from there.  Don't be doing something just because that's what all the "cool preppers" do!  Buck, if you were within a couple hour drive of me I would meet  up with you and take a look at the property and help you construct some ideas, then invite you to mine and show you around.  Remember brother, be realistic and take it one step at a time.

Just my $.02 and its worth exactly what you paid for it!  

this property will be much easier for me to work with, in every way. i am seriously considering " homesteading" it, using a camper. im doing a lot of research on it att he moment.

the gravel road is marked for utility easement on the deed, so power would run down that road.... and i dont think they will require it to be buried, as in the other location. also, i might be able to get the hunting camp, and possibly a third property owner to help pay the costs.  power would need to be ran 1400'.  the road is to be maintained by three different parties, so thats helpful.

on this map, i marked the two best house locations. the one in the back is my favorite... due to being away from the highway, and land that is already easily cleared due to it being a crop field a few years back.

im working on getting a up to date survey done right now... ill keep you guys informed.

Good for you offloading your place and solving some of the issues thrown your way.  That was a fortunate resolution to unfortunate events.

But, to echo others, perhaps you want to slow down and plan before you jump back into the same thing again.  SAVE. don't spend.  sell the "toys" that are "needed" for property upkeep, and determine in the future if you actually need them.  if you found land before and just found land now, odds are you can find land later, when you are ready for it.  save the money you were going to spend on the land.  save the money you were going to use to acquire more stuff.  and most importantly save the time and stress you are about to spend.  establish a clear goal (i.e., buying land/building or finding another property in 5 or 10 years).  meanwhile, you're not wasting time and money on "half-assing" your move to the woods.  the side benefit of this is that you will then be ready in the event another one of life's curve balls comes your way.

if you are dead set on buying, perhaps consider a smaller, established property, something that you could move to NOW, and drop the rental game.  Then, learn as you go, and if/when you are ready to move to something bigger/more remote, you will have a more realistic understanding of what needs to be done.

But either way, good luck!! land is fun

Glad things worked out OP.

Great attitude I'm sure helped.

This.  Words to live by ................

That seems to have turned out very well.

Good luck to you OP.

I swear right as I was reaching the end of the OP's post and just about to read yours, I was thinking of my mother who always said, "When God closes one door, He always opens another."


Wishing you luck, OP!

TL;DR

But to add:

Next house you buy, don't do your gutters the same way.

thanks everyone !  it means a lot to have this support. this is not the build thread yet, so im really not wanting to get into details of what im planning / trying to do. but, i have plans, and they will go much faster and smoother on this property.

i am considering several ways to get things going  as quick as possible...... but, there will be a lot of thought on the subject before i do anything. yesterday i walked the land with my gps, and i determined that at most i will be clearing 1.5 acres this year. thats it, 1.5. thats what is small easy to clear trees, ( a large xmas tree size), in a area that would give me a yard area, and a large flat parking / building spot for a camper, or pole barn garage and still have the max privacy. next year i will probably do another acre... but the second acre has bigger trees to mess with.( approx telephone pole size),  i will be turning those into firewood, mostly.

of course im keeping the most useful trees, oaks for nuts, and maples for shade.

i will eventually clear or clean up a total of 4.5 acres..( leaving the other 10 for deer, and critters).. which will be a mini-farm, eventually complete with a cow and some chickens. but there are hurtles of course.  there is even a small corn crib thats in excellent condition, that im planning to get some more old barn wood to turn it into a really small cabin / deer hunting shack. its extremely cool its in suck great shape. aged oak lasts forever ! ! !

if i have to have a structure BEFORE they will run power.... i will have a pole barn garage building built, ( about 10k or so approx),  and have power ran to it... and start off that way, and live in it / turn it into a temp house....( maybe park a rv in it and use it as a wood stove , heated living area, to help the camper be more comfortable, / storage area for personal stuff, and tools, and construction stuff.. etc), .. until things allow the in ground house... and the pole barn will go back to being a garage....

i understand the criticism..... especially from the last long thread with little work accomplished......... this is a different animal entirely.  before it was a part time dream, that i worked on occasionally....which would not be easy to live / work with due to location and distance from family and work.

this place is right in the center of everything..... and i will be going there everyday.... probably several times a day to tinker, and work on things. with solid plans to live there. it will have obsticles.... but only about 10% compared to the other place.

thank you guys for the kind words and prayers. the contract was signed yesterday, and im working on survey stuff, and title search.... before final contract is signed . but, unless something crazy derails things... its mine as of yesterday ! ! ! !

Buck, just so you don't get in a bind like you discussed in your last topic, you have already Closed on the last property and have the after-tax proceeds in the bank?

Before committing on this one....

heres probably the last update to this..... starting next week, ill probably have the thread for the new place going. and it will be going much faster....

its ongoing.... basically, the new buyers, have already taken over paying the loan on the land.. to the contract holders. im dealing with the guy everyday, and we are supposed to close tomorrow.... or maybe mon-tues if theres a hitch.  then i sign over, and get my check for the old property payoff.. we do have a agreement to buy contract signed, locking in the sale. im in constant talks with the new property owners... i have contract to buy with them... and have a down payment already paid.  we are supposed to close next week.. at this moment, everyone is happy. my buyer... me.... old contract holder....... me... new seller.. lol

i have pretty much walked the entire 15 acres of the new place.. and each time i do, i find more reasons to like it.   each end is i basically high ground with gentle slopes down to the creek and 5 acres of flat ground in the center, ( the ends are probably 20-30' higher than the creek area) in the front and rear ( which are the best building areas, as i dont want flooding issues, although this area is not prone to flooding, even if it did it would maybe be 1' deep outside the creek banks, in a small area maybe 50 yards wide...), and low / flat  in the middle close to the creek... which gives two really nice building areas of about 2-3 acres each, with a flat area thats great for crops, orchards, animals, etc.....

its got around 5 acres of a mixture of MOSTLY large mature oaks, hickory and some walnut, (some trees are simply huge, larger than anything at old property) ......5 acres of mixed mature trees, oaks, hickory, popular, ( popular would probably either be sold, or used for firewood, if they would be good for that)...., with more smaller trees mixed in...etc.... and 3 acres ( running from creek up towards house area, of 4-6 inch thick trees, equal mixture of oak, maple, gum etc, .....with the remaining house area/ yard of , approx 2 acres, of small arm sized gum, and ceder,  with a very, very few small oak, maple dogwood etc mixed in. with a decent creek running thru the middle.. the area for the house consists of the so/so trees, and will be slowly cleared. maybe up to 5 acres.eventually. probably a acre a year or so..( the plan for this year, is clear 2 acres , which is the house area / parking area... and taking great care to keep the good trees, dogwood, maple,  percimmon, and oak, ( its 98% gum / ceder ). with a lot replanted in apple, pear trees, and possible oak, and hickory, or something useful etc.  i plan to line a strip between the easement road and the farmyard, with ceder trees for privacy, as they grow fast and are green year round....i just need maybe 3 acres for a house, / yard / garden / small pasture for animals.


power costs........

power company will run 1000' to a " house".... and after that i pay $13.00 per foot for power cable.. ( 400 feet approx)... ( cost approx $5000, in cable, plus trenching, and conduit). so im paying for 400' of cable....... the old place id be buying around....... 5000 feet of power cable... or something nuts like that.    water is a seperate thing, not sure yet... but expect to have to pay for it all myself, as i dont see what the water company would do.... i will try to see if the hunting camp guys might contribute towards it, for them to get their power and water when i do mine...i think thats a very real possibility, as they have a nice place, and i could see it turning into a house very easily, that could   cut the costsof water and power for me maybe in 1/2. if they dont contribute, my water and power lines will not be heavy enough ( amps etc, load for what i need), as well as water line capacity, pipe dia.....to provide any extra service i doubt  and they would be paying the full costs down the road....( plus im burying everything)

if i try to do a camper..... i have to pay for all 1400' of power myself...  around $20k.... so thats not happening.  not unless i really had to for some reason..( financially) .. and all the financial planning i have been doing says the chance of that is pretty much zero......so.... this makes things pretty simple. in about  18 months... i will start building a pole barn house..( one type of house i love and its also the cheapest per sq foot to build. by this time, the land will be free and clear with no balance owed...( and be great collateral for a small loan) .. i will pay to get a pole barn house started.... running power, water and septic..... and we will be living in part of it, ( probably quickly finish / enclose a corner apartment about the size of a effiency hotel room to live in, as we do the rest of the construction out of pocket.. ).

also.... the other end of the property.. has a really nice corn crib on it.. approx 8' x 20'...approx 24" off the ground....its all oak, and 90% of its great.. it needs a new floor, and new metal roof.... then a porch, a new door,  and some windows maybe insulation and wood stain, and a woodstove, and iv got a hunting cabin.. lol. .... that will keep me busy for a while...i REALLY want to keep the old wood look, and try to get some old barn wood locally to do any repairs to the outside..... i know where a few collapsed ones are where i could maybe get some cheap / free.  

i think you guys will really like it. its also possible i will get a small bank loan.... $50k max..to add to my money,  to do these utilities, and get a big start on the house...  the important thing is.... i move in the house, and i IMMEDIATELY have $800 more a month, ill be saving in rent to put into house / repaying bank loan. IF... and i mean IF... i borrow bank money.... it will be on a very short loan.. the shortest possible... to be repaid in 5 years or so.

yes, im sure you guys can see a lot of holes in these plans.... they are basic early plans..and i expect problems to arise... but this plan ,  will have me living on the land, in my own house,  in about 1.5 years........with at most a small bank loan to repay.......

the old place was going to take much, much longer than that. if ever.

Buck, if the new buyer that's taking over your payments for your first land buy...

Defaults...

Are you back on the hook again???

Do you have legal counsel to read the contract and advise you?

no. the original sellers i have the contract with.... are very good friends with the buyer. they have already started their own land contract for the balance i owed them......  the buyer at closing, is cutting me a chack for the difference, for whats left on the contract, and my selling price... paperwork will be signed, they will have their own deed, and its done.

im 90% sure the guy is buying this land purely to resell in the near future.

i have what if'ed this to death. i notified the owners of my financial problems, and they notified their friend who was looking for land.... i was considering putting the land on the internet or thru a realtor, and i COULD have gotten more money for it....... however.... i was under a lot of pressure at the time, and the peace of mind was enormous... i had no idea what the gov plan was... how fast it could have done something, etc...... sure, i could have asked for more money,  but i might have been a nervous wreck for months and months wondering what would happen first.. sell at a bigger profit... or default on the payment, due to reduced income....

it worked out so fast, and so well....... and litterally.... a week later the property next door popped up for sale, in about the PERFECT location for my family, and my gf's family... that i have a damn hard time believing it was not serendipity , and meant to be. fate was smiling on me thats for sure. there were several ways it could have turned out badly for me.

"no. the original sellers i have the contract with.... are very good friends with the buyer. "

Troublesome...

Do you have legal counsel or are you flying by the seat of your pants.

[I usually do the latter, but when it comes to RE contracts ---NEVER!]

Is there a title company involved? They will tend to protect your interest to a degree, but not so much w/ potential financial issues.


These folks could be setting you up for unpleasantness...  

Glad everything turned out so well for you.  Will look forward to your updates.

This. And seeing your later thread about buying more implements already concerns me.
I'm afraid you may be ignoring the old "look before you leap" rule again.
Signing w/out knowing how much elec, water/well, septic, etc to site even costs?

It's nice to dream, but sometimes we need to be more realistic.

FWIW, is their marketable timber on the new property?

One of my brothers had 5 acres clear cut some years back for a home/yard site.
He got VERY lucky with elec, as power company was going to run new lines across his property, so he had his done to his home site for free, as part of their negotiation
Last winter, he had 20 acre selectively cut for over $2K per acre, less 10% to consulting forester.

Good luck, but please take your time and think things through/seek advice from those that have experience in these areas.