Velvet
by Mbrock. 04/28/24 09:16 PM
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Re: Land Purchase
[Re: bama_earl]
#3998682
10/16/23 01:30 PM
10/16/23 01:30 PM
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Joined: Feb 2008
Posts: 15,671 Montgomery
bamaeyedoc
Old Mossy Horns
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Old Mossy Horns
Joined: Feb 2008
Posts: 15,671
Montgomery
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If you can get it, do it. Maybe offer $1500/acre. all they can say is "no." In your case, I would not look at it as an investment as far as timber goes. More of a recreational tract. If you can live with that, go for it. If you're wanting a ROI of any kind, you will need to pony up more $ for the timber already on a tract. Oh, an by all means (and this might be a deal breaker) make sure you have a deeded easement to the tract. That would be a non-negotiable thing for me. Things change. People change. Land changes hands. The last thing you want to deal with is to have a piece of property and not be able to access it due to some issue with the adjoining landowners. There are plenty of horror stories out there on this kind of thing.
Last edited by bamaeyedoc; 10/16/23 01:34 PM.
AKA: “Dr. B” Aldeer #121 8-3-2000 Proud alum of AUM, UAB, and UA Member of Team 10 Point 2023-2024 ALdeer Deer Contest Winners
Glennis Jerome "Jerry" Harris 1938-2017 UGA Class of 1960 BS/MS Forestry LTJG, USNR
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Re: Land Purchase
[Re: bama_earl]
#3998685
10/16/23 01:35 PM
10/16/23 01:35 PM
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Joined: Jul 2020
Posts: 622 Wilcox County
hamma
4 point
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4 point
Joined: Jul 2020
Posts: 622
Wilcox County
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Av rate on the dirt is around 1250/acre + the timber value for land locked property with no deeded access. 1500/acre on dirt with access
Last edited by hamma; 10/16/23 09:08 PM.
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Re: Land Purchase
[Re: bama_earl]
#3998694
10/16/23 01:44 PM
10/16/23 01:44 PM
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Joined: Feb 2013
Posts: 8,399
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,399
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Seems like a good deal on its face
But some things you’ll want to know that may not be relevant today but good to know regardless. Include mineral rights? Any easements/ROWs? Recent survey/clear boundaries? Any problem neighbors? Can it be subdivided? What utilities are available? Missed that electric and well. What about internet? Any known issues or hazards like trash dump site or open well etc? See these are the things I need to know... it's a mile off the main road and goes through 2 property owners. Both of who I know and they only use it for timber. its not leased out or anything. Another thing. This property borders the Talledage National Forrest but I have leased it for 5 years and never had someone walk on the property. I do have to give access to a land owner through this property but they have never accessed that property in 5 years and it's also not leased. All three of these land owners are big money and if I wanted to get out I am sure they would by me in quickly. Is there deeded access ? Seems steep for cutover with no road frontage.
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Re: Land Purchase
[Re: Dixiepatriot]
#3998700
10/16/23 02:04 PM
10/16/23 02:04 PM
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Joined: Nov 2011
Posts: 1,971 Alabama
bama_earl
OP
8 point
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OP
8 point
Joined: Nov 2011
Posts: 1,971
Alabama
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How does whatever your monthly payment works out to compare to club dues. Get the payments strung out as long as you can. The payment you make 10 years from now ain’t gonna be worth half of what it is now thanks to Biden. I lease 120 ac total for $1200. I have 5 green fields and nice shooting houses. I pay the landowners son, my best friend, $1000 to bushhog and plant my fields. This year my total costs were Lease $1200 Bush Hog/Planting - $1000 Seed/Fert - $575 Total = $2775 Bushog and planting is not going away.
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Re: Land Purchase
[Re: bama_earl]
#3998705
10/16/23 02:06 PM
10/16/23 02:06 PM
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Joined: Jan 2017
Posts: 3,553 Lower Alabama
Andalusia
10 point
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10 point
Joined: Jan 2017
Posts: 3,553
Lower Alabama
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I thought you were wanting to know if the price is right but now you are mentioning tying up your money in land for years.
The price and zero interest sounds good without seeing the land.
No way to know if you have enough income/savings/investments to make this purchase without a bunch more details that you probably shouldn't post online.
Talk to a financial advisor or someone whose knowledge you respect and trust to share info with to determine if this is a financially sound move. If you can afford to tie up $140,000 in a recreational property and know you may not see any increase in value then you are good to go. You are correct... I can pay for it as I will be paying it off in payments. He said we can work out payments I can afford but I am going to offer 20k down and 10k a year. Used an online loan calculator for these numbers: If you purchase for $140,000 and put 20,000 down and pay 10,000 per year for the next 12 years and you got a loan for 5% the interest you would pay over the 12 years would total $39,821. So if you get this loan at zero interest then you are saving $39,821 in interest if you had to pay 5% on loan (I don't know what the going rate is for a land only loan). So this may help you decide if the price of land is OK when you consider zero interest.
"If you are the smartest person in the room, you're in the wrong room"
"How you do Anything, is how you do Everything"
"It is the mark of an educated mind to be able to entertain a thought without accepting it"
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Re: Land Purchase
[Re: bama_earl]
#3998707
10/16/23 02:09 PM
10/16/23 02:09 PM
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Joined: Jan 2001
Posts: 25,778 Fayetteville TN Via Selma
jawbone
Freak of Nature
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Freak of Nature
Joined: Jan 2001
Posts: 25,778
Fayetteville TN Via Selma
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ok - the issue I have is that's $140,000 in to land I will never see a return on unless I sell. I may get one cut off it before I retire. Then I can let the grandkids fight over it. I probably need to go ahead and get it... or they going to sell it. Think about it this way if you can afford the payments. You'll never get a better opportunity to buy land with the owner financing and they quit making land a while back so get it while you can.
Lord, please help us get our nation straightened out.
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Re: Land Purchase
[Re: SouthBamaSlayer]
#3998711
10/16/23 02:11 PM
10/16/23 02:11 PM
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Joined: Jun 2015
Posts: 14,022 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 14,022
Some Marriott/Auburn
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Call me cheap, but I’m not paying that for cutover. What would you pay for cutover? Are there properties available at that price point? 0% interest makes this a unique circumstance though
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Re: Land Purchase
[Re: bama_earl]
#3998714
10/16/23 02:15 PM
10/16/23 02:15 PM
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Joined: Mar 2013
Posts: 14,624 Clanton
Turkey_neck
Booner
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Booner
Joined: Mar 2013
Posts: 14,624
Clanton
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I wouldn’t pay that for the area and being clearcut beside the ntfrst having to go through two other properties. Maybe $1400 acre max.
Would walk over a naked woman to get to a gobblin turkey!
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Re: Land Purchase
[Re: Omega One]
#3998716
10/16/23 02:16 PM
10/16/23 02:16 PM
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Joined: Sep 2012
Posts: 14,304 ArmPit of the south
DeerNutz0U812_
Booner
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Booner
Joined: Sep 2012
Posts: 14,304
ArmPit of the south
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I was just quoted 8.75% interest for 20 years with excellent credit! ...Holy Crap!...
Did you know that Beer Nutz are over a Dollar...and Deer Nutz are under a Buck...
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Re: Land Purchase
[Re: bama_earl]
#3998719
10/16/23 02:22 PM
10/16/23 02:22 PM
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Joined: Aug 2013
Posts: 9,588
BPI
14 point
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14 point
Joined: Aug 2013
Posts: 9,588
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Re: Land Purchase
[Re: hamma]
#3998723
10/16/23 02:25 PM
10/16/23 02:25 PM
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Joined: Nov 2011
Posts: 21,784 USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,784
USA
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Av rate on the dirt is around 1250/acre + the timber value. Nah. Not any more. That’s 2018 prices. Good luck finding that now.
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Re: Land Purchase
[Re: Remington270]
#3998733
10/16/23 02:36 PM
10/16/23 02:36 PM
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Joined: Jun 2013
Posts: 2,997 Columbia, SC
CeeHawk37
10 point
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10 point
Joined: Jun 2013
Posts: 2,997
Columbia, SC
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Av rate on the dirt is around 1250/acre + the timber value. Nah. Not any more. That’s 2018 prices. Good luck finding that now. This. I know I’m a couple of states to the right of you guys but bare dirt is hard to find under 4K an acre here. Heck there’s a lot of places in SC they are asking 10k+ an acre for unimproved land. Again, to the OP, that’s a hell of a deal even if you are just going to use it for recreation.
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