npaden
Well-known member
Okay, I’ve got what I think is a near perfect whitetail hunting property 100 miles from my house. 160 acres that I’ve had for 17 years now. Not looking to sell.
This week I got a cold call from a realtor wanting to buy it. Offered me almost 4 times what I paid for it and about 50% more than I thought it was worth. There has been a lot of wind turbines go up in the area and they have put a great big electrical substation in 1/2 mile from my place and I’m pretty sure whatever they are going to be doing with it has something to do with that.
I’ve always said this was investment property as well as recreational so I am seriously considering selling it.
So I’ve been looking for other property to make a swap and I’m starting to think my place might be worth what they offered. I can find property for as much as half the price per acre as what they are offering me but none of those really jump out and wow me as a recreational property. I would be going from my current 160 acres to 320 acres so more likely it would be worth more in the future than my little 160 would ever be but not sure it would be any better from a recreational perspective.
With all that said I have found a couple places that do wow me. The problem is they are way bigger and more expensive than I want. I would be willing to put some more money in to the pot but not that much more.
That has me wondering about buying one of those larger properties and then splitting it in half or even thirds and selling the other pieces.
Anyone ever done anything like that? I’ve always done the opposite, buy a smaller piece and then add other smaller pieces to it to make a reasonably sized property. That lets me buy in pieces that I can afford. Probably ends up costing me more in the long run because generally property is priced lower per acre the larger it is.
If I go that route it for sure will add a big layer of risk to the process. I would get up with a giant note on the property until I got the other pieces sold off. The upside is that I could somewhat choose my future neighbors and if I buy the entire place at $1,350 an acre and sell 500 acres off at $1,750 an acre that actually reduces the net out of pocket that I pay on the rest of it.
Oh well, this place is 1,105 acres and really about the perfect hunting/recreational property. Some serious whitetails on it. This is one of the smaller places in the area with some giant places adjoining it.
I’m probably thinking way over my head and I already have a ton of money in real estate with my place in Colorado. I don’t want to sell that.
So if anyone has done something like this I’m all ears. Going to call the realtor that has it listed on Monday.
This week I got a cold call from a realtor wanting to buy it. Offered me almost 4 times what I paid for it and about 50% more than I thought it was worth. There has been a lot of wind turbines go up in the area and they have put a great big electrical substation in 1/2 mile from my place and I’m pretty sure whatever they are going to be doing with it has something to do with that.
I’ve always said this was investment property as well as recreational so I am seriously considering selling it.
So I’ve been looking for other property to make a swap and I’m starting to think my place might be worth what they offered. I can find property for as much as half the price per acre as what they are offering me but none of those really jump out and wow me as a recreational property. I would be going from my current 160 acres to 320 acres so more likely it would be worth more in the future than my little 160 would ever be but not sure it would be any better from a recreational perspective.
With all that said I have found a couple places that do wow me. The problem is they are way bigger and more expensive than I want. I would be willing to put some more money in to the pot but not that much more.
That has me wondering about buying one of those larger properties and then splitting it in half or even thirds and selling the other pieces.
Anyone ever done anything like that? I’ve always done the opposite, buy a smaller piece and then add other smaller pieces to it to make a reasonably sized property. That lets me buy in pieces that I can afford. Probably ends up costing me more in the long run because generally property is priced lower per acre the larger it is.
If I go that route it for sure will add a big layer of risk to the process. I would get up with a giant note on the property until I got the other pieces sold off. The upside is that I could somewhat choose my future neighbors and if I buy the entire place at $1,350 an acre and sell 500 acres off at $1,750 an acre that actually reduces the net out of pocket that I pay on the rest of it.
Oh well, this place is 1,105 acres and really about the perfect hunting/recreational property. Some serious whitetails on it. This is one of the smaller places in the area with some giant places adjoining it.
I’m probably thinking way over my head and I already have a ton of money in real estate with my place in Colorado. I don’t want to sell that.
So if anyone has done something like this I’m all ears. Going to call the realtor that has it listed on Monday.
