Land values
- Thread starter Bullwinkle
- Start date
I wish we had the deals you guys find. We do good to find it for $3K an acre. The wife and I have been talking about buying a piece 100 or so acres if we can get lucky and find one at the right price and right location. I am patient so we shall see. I plan on waiting a couple more years to buy but when I get debt free and have the money in the bank I am not sure I will have the same patience.
Osceola
Active Member
There's a pretty good story behind it if you guys don't mind indulging me for a few minutes.
I already owned 20 acres adjacent to this 40 so I used to pass by it on the seasonal road. When the leaves were off, I could see the beautiful little lake through the trees and I dreamed about someday owning that lake and putting a cabin on the small bluff that overlooked it. I never saw any activity around the place so I never made contact with the owner.
Then in 2014 I was doing an internet search for county tax information when a real estate listing came back that caught my attention. My heart stopped when I recognized the property and realized it was my dream lake. Turns out this forty had been for sale for 6 months, but no one knew it because they never put a sign by the road. The elderly owner was in a nursing home and the bills were piling up for the family, so they needed to sell this parcel that had been in their family for over 100 years.
I got my financing lined up, made an offer within a few days and had a contract signed. Somehow it leaked out to the locals that it was for sale and the listing realtor's phone wouldn't stop ringing, but it was too late for them.
The property had been neglected for decades, but with a little TLC and TSI we've already seen the deer hunting improve dramatically. We've taken two bucks off the property so far, one of them my 16-year-old daughter's first deer. This year we're putting that cabin on the bluff above the lake. I really am living the dream.
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Osceola
Active Member
No problem, buckdeer1!
Here's a picture I took in September 2014 when I went to view the property before making my offer.
Bullwinkle
Active Member
I'm telling you it's hot for good deer hunting land guys. I got approached today on my new 40 and was asked for last look if I get an offer I want. A guy is selling another place and wants mine. I told him I am waiting for $5000/acre and he didn't blink
It's sold if he sells his. I'll find another parcel and improve and try to flip it if this happens. Kind of fun
It's sold if he sells his. I'll find another parcel and improve and try to flip it if this happens. Kind of fun
Osceola
Active Member
This does sound like fun. I've given it some thought, but I don't think it would bring a good return in MI.
Assume I can buy a good forty for $1500/ac ($60,000) and sell it for $2000/ac ($80,000) after some habitat improvements. By the time you figure in transaction costs, taxes, improvement costs, time and travel, there wouldn't be anything left of my $20,000 gain. Maybe a fun hobby, but not a money maker in my neck of the woods.
What we did several years back was bought an 80 and split in half ,raised the price a couple hundred an acre and resold it.Two people ended up with a piece they could afford and still big enough to hunt.I always said I could take a field let it grow up and get some trail cam pics and resell.If I had the time or money that is
