Aldeer.com Forums Alabama Deer Talk Aldeer General Forum Land purchase?

If it truly is land you want, and you are happy with the price, you need to buy it, as it may be the only time in your lifetime which it will be available for purchase.
Some properties are never available to purchase in one's lifetime, regardless of how much money you have to spend.
If the land isn't (available) for sale, you aren't buying it.

Property is always more valuable to an adjoining land owner, if they want it.
An adjoining landowner's total property which connects to the property bought, factors in to cost.

In other words, you have your current property of 10 acres in which you have $1,000 an acre invested.
You pay $2000 an acre for 5 acres of property adjoining you, which everyone else says is too high of a price.

Your current property and property bought is now 15 acres is $20,000 or $1,334 an acre.

And any benefit it has, which you currently didn't have, such as road frontage, water, electricity, better access, pond, lake, hardwoods, etc. carries over to the adjoining property you already own.

If you can pay cash for it, you may be able to get a line of credit on the property at a later time, for your home building.

God Bless,
David B.

If you can get any land for 1k an acre I’d say jump on it if you can. Mine is with first south farm and I get a check every year. I did my loan about 2 years ago at 4%. Think that is over with though.

I used Alabama Ag Credit and they are top notch .

Can you use Alabama ag for a Mississippi property? Or look into Mississippi places? These interest rates are what’s tough. My buddy got his land with 2% and interest rate and now it’s close to 8 if not 8. Huge difference in payments. I do agree after this it may never be available again.

No clue but don’t get caught up on the 8%…sure it ain’t 2 or 3 but it’ll be worth it if u really want it, and it’ll be lower than that with dividends

Get a rate quote from every available lender in the area, then pick the lowest rate with people that seem competent. The high interest is gonna hurt, but it will only hurt more the longer you wait.

2% rates are not realistic, and will likely never happen again in our lifetimes. It was propped by the Fed for years, and we are now suffering the consequences of it.

School me on the dividends and some saying they write you a check? Trying to do my homework. Wife said we will talk when I present her with options. It’s looking as if after hunting season

I agree w/ BOFF. Not sure if you have any IRA $'s, but look into a self directed IRA if you do. You can't build on it, and other laws, but it's a good alternative to the market. I'm not saying put all of your $'s into land, but a percentage. You could buy the 90, spin off 10 (cash) and put the 80 into your IRA. Build on the 10. I've done that. If you and your family want it, I'd figure out how to get it. I've never regretted buying land, and I've mad some good $'s on the acres I've sold. Started in 2013. Wish I would have started a long time before that, but I had kids to get through college, etc. Clearcuts always look good for the price, but its tough to beat timber that's already growing. Like anything in life, the more you work on it, the better you get at it, and the better you get at finding deals on more, etc. Good Luck.

Here's First South Farm Credit's explanation. You're buying into a co-op with most farm lenders, so you get a cut of the profit.

https://www.firstsouthfarmcredit.com/about-us/patronage-program