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Posted: 10/26/2004 9:09:25 AM EST
Instead of just wasting any extra money I might have, I'm considering socking that money away and buying up small parcels of land here and there. A city lot there, a smaller country lot there... I'm not so hot with the stock market and I can always buy up or make any guns that I want-- but they don't seem to be making any more land.

Has anyone ever done this? Got any recommendations for someone looking to start out small and perhaps "trade up" to bigger pieces? I've also already got a great house, so no-- this is just for investment... and maybe shooting on in the interim.

Knows enough to know he doesn't know enough,

Mike
Link Posted: 10/26/2004 9:22:23 AM EST
my dad and I bought several pieces of land at different times. 1 acre lot on a gravel pit for $12,000 about 10 years ago. the pit became developed and our lot was the last one without a house. sold it for $125,00. bought 30 acres near a boombing area for $90,000.00 sold it 4 years later for $195,000. I recommend getting rural land within 20-40 miles of a growing area. hold on to it for a few years.
Link Posted: 10/26/2004 9:24:28 AM EST

Originally Posted By 1Walker:
my dad and I bought several pieces of land at different times. 1 acre lot on a gravel pit for $12,000 about 10 years ago. the pit became developed and our lot was the last one without a house. sold it for $125,00. bought 30 acres near a boombing area for $90,000.00 sold it 4 years later for $195,000. I recommend getting rural land within 20-40 miles of a growing area. hold on to it for a few years.



If you don't mind me asking, what part of WI are you in..? I fled moved from Milwaukee to AZ in 10/02.

Back on topic, a few years? Like 10+?

Mike
Link Posted: 10/26/2004 9:27:13 AM EST
im in between madison and milwaukee. the 30 acres we had was in Rome, WI jefferson county. that profit was in 4 years. the 1 acre was about 10 years. I think you have to have some luck on your side. 10 years I think would be plenty, but it all depends on the surrounding areas.
Link Posted: 10/26/2004 10:14:03 AM EST

Originally Posted By 1Walker:
im in between madison and milwaukee. the 30 acres we had was in Rome, WI jefferson county. that profit was in 4 years. the 1 acre was about 10 years. I think you have to have some luck on your side. 10 years I think would be plenty, but it all depends on the surrounding areas.



Well, looks like this is a long haul project that will involve some research into population trends and the like.

I don't mind work for payoff-- even if it's a delayed payoff.

Did the property taxes eat you alive?

Mike
Link Posted: 10/26/2004 10:27:04 AM EST
Link Posted: 10/26/2004 10:48:42 AM EST
Agricultural use..? Tillable..? This is desert, man.

Hunting leases..? Oh! Down here, the state tells you where you may hunt- not the other way around. That's one thing I miss about WI- being able to pick my own hunting spots. Out here, you apply for the tag, and if you get the draw you're told where you may hunt.

Not as much game in AZ versus the midwest.

Mike


Originally Posted By CAMPYBOB:
Did the property taxes eat you alive?


they sure can. so can insurance. watch out for surveying costs and alway check on right of ways,. leases, mineral rights, etc.

buy enough land and put the acreage in cauv to get the agricultural use tax rate.

rent the tillable acreage back to local farmers to recoup tax/interest losses.

harvest timber for the same purpose.

sell hunting leases (damn! i just talked to a guy that actually paid $1800 to hunt deer!).

around these parts, prime investment property can turn in two weeks to a year. lower priced buyins can easily be held for 3-10 years.

as an example: a friend just bought a new house and huge garage on 38 acres at auction. before he left the auction site after signing the papers he sold the house to the runner-up bidder at a profit on the market value by adding in 5 more acres (for a total of 10) for, again, a nice markup over what he paid for it 30 minutes earlier.

2 months later, he has half of the remaining land parcels sold off at respectable profit margins. by the time he offs the last parcels (next summer, most likely) he will be smelling like a rose.

why? all because he had the financing to swing the big deal while all the other bidders were looking at the little picture.

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