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.