Thinking of buy a piece of land as a get away/long term investment.  Hoping to get a plot big enough for a skeet field and long range shooting. If there is a house it would slowly be fixed up over the years as fund allow. (Currently looking at a plot with 60 acres with a house that would prob need a fair amount of work). This one is an auction. Question is going forward where would I start as far as research, advise etc. Realtor? Lawyer? Who/where would be best for questions about the title, deed etc? Just not sure where to start since its not like buying a house where all the info/support systems are baked in. Thanks.

If you don't have cash good luck at auction.

Much depends on which state it is in, as states have different laws.  One important aspect is the fence. Who's responsibility is the upkeep of the fence or what are the laws regarding that. Some tracks of land are wonderful to own others are a nightmare.  An Attorney can give you legal advise.  An Appraiser can help to determine value.  A realtor just wants to sell it to anyone.   One of the best sources of information about farm or ranch land is talking to old farmers at the local coffee shop you will get more information there than you want. Important to know if there are outstanding tax liens or other liens on the land.  Some states us an abstract some states use title insurance. An realtor will give you some information but you pay an attorney for their advise or to draw up or look over contracts. The bigest problems with land come from how do you get to it is it on a public road or do you have an easement across another property and the fence issue.  I totally could not bear to keep a 40 acre tract in southern Iowa because every time it rained it washed out the fence and the neighbor who ran cattle insisted it was my responsibility to maintain that half of the fence standing inside the fence looking over the half to the right.  I hung on for a couple years but it was just too much trouble to drive three hours one way to fix a fence every dam rain.  Also ask what type farming do the neighbors do are they running cattle or row crop.  Corn and soy beans stay put cattle will get out.

Thanks. I figured Id just feel out who I have working on my current refi. This might be in lieu of buying a new harley as the monthly payment works out to be the same. Also turns out its actually 150 acres. I bought title insurance for my current (first) home because last thing I need is someone showing up with a hand out or eviction notice.

Use a real estate lawyer to close the deal & handle the paperwork.  Will cost around $1500 but it's the best money you ever spent.  They're great for identifying any possible pitfalls or possibly even getting you mineral rights when the current owner didn't even know they were still attached to the property

Good suggestion. The auction listing indicates mineral rights are included but the gas is under lease

If it’s an auction your idea of making payments is t likely an option. Generally speaking it’s cash at close of auction right then and there. Banks won’t give you cash up front with a property as collateral and you won’t own the property to use for collateral until after the auction. Additionally they don’t want anything to do with underwriting that stuff anyway as it can’t be inspected.

I’ll have to check the time line but it’s $7500 non refundable down payment day of auction and close by mid july

I would define your goals.  

A piece of real estate can be a getaway and an investment but its not easy.  

To get one that is 60 acres, has shooting areas,  and a fixer upper house, AND an investment with any sort of return is nearly impossible.

If you want a getaway, buy one.  But don't tell yourself its an investment. For your listed goals this should be money you could light on fire without it effecting you,  bc that's what your doing.

Dont get sucked in by the auction process.

I have seen many times where people get wound up over an item and bid against another.  

Only to end up paying $100 for a $50 item.  

The auctioneer counts on this.

Get's really expensive when you are bidding on a house.   Have a set max bid and walk away if it goes over that number.

County tax assessor may be able to help you track down current title/deed.

I agree 100%. This would be instead of buying a new bike and I consider it an investment since if the house on the property were to be fixed up over the next 20 years when it all gets sold hopefully we would atleast break even. But it would be a weekend get away for shooting, hunting and relaxing

The whole property is almost completely clear cut and 900m square.

The house is a fixer upper but I’d gut it and use it like a cabin then slowly start doing repairs 2-3 weeks each year till it’s a decent home.

Did some research last night. Even if I don’t get the current one I’m learning a lot just like when I bought by house.

This auction is for 3 lots. 2 are connected and a smaller one is across the road. No need for it and would prob contact the owners of the 3 adjacent connected lots and see if they would want it and it still wouldn’t impact how I’d use the rest of the property

Kind of the reason I was thinking of a realtor even tho the male more if I spend more. Have them to advise on what it’s worth. Pros cons etc etc just like they would with a house. Unfortunately don’t know what I don’t know so a professional of some kind would be helpful.

One example is some counties/municipalities require a house or structure to be built in x amount of time(I’m not 100% on the details) but it wouldn’t make sense for me to score a deal on land if I had to bring/build a house to code in 90 days

That's not an investment. That's a liabilty. Breaking even after 2 decades and significant time investment is a loss.

Warren buffet I am not. I look it as a place to go where I can put in a skeet/trap field, and a bunch of steel target and shoot/practice all I want when I want without some fudd range officer breathing down my neck and me paying $35/hour for the privilege. If I can sell it for twice what I bought it for I won’t complain but as long as it doesn’t make me poor in the end I won’t be offended.

That's fine.  But define your goal.  You keep calling it an investment then describe a hobby that burns money.  You need both things but pouring money into something just to call it an investment is how you stay poor.

If you want a hobby property then that's fine and you should budget for it.  

This should not be part of your investment part of the budget currently.  Id put out under my regular house budget, same as id put a vacation home.