Brian662
5 year old buck +
Sure, but picking stocks or buying the right crypto and buying real estate aren't exactly the same thing. Not really even close, tbh.
Hunting / recreation and timberland values in your location?
- Thread starter Foggy47
- Start date
I like this. By and large, rec real estate is a good investment (strictly comparing returns to conventional stock market investing) only when one manages to buy under market value. There are certainly times and places where this is not true. Unfortunately, I haven’t figured out how to do that.
Hoytvectrix
5 year old buck +
You don't get a whole lot of personal value or fulfillment out of a stock, gold, or crypto. You also can't really make your 401k perform better. You can make improvements to your land and of course you get to hunt and use it for recreation.
Also, most things in the market are already priced in. Algorithms do nearly all of those trading now. There's still some inefficiencies in the land real estate market. There are definitely deals to be had, Even if they are getting fewer and farther between.
Also, most things in the market are already priced in. Algorithms do nearly all of those trading now. There's still some inefficiencies in the land real estate market. There are definitely deals to be had, Even if they are getting fewer and farther between.
Bought our place in 2016 for $187.50/acre. Current market values are probably $750-1000/acre for similar properties that were likely logged off in the last 5-20 years. Driven by a combination of general inflation as well as COVID after effects of people moving up here to live off grid/homestead/whatever you want to call it. This is for off grid (no nearby services), 4 season maintained road access. More for areas nearby with half decent farmable soil. Of course I have almost no deer left around this year....
We bought our place 9 years ago. The increased value of it, compared to our much lower increase in income, means we would not be able to afford it today.
Our mortgage company reminds me every couple of months about all of the equity we have available to use. I don't have the heart to tell them I couldn't afford the payments that would come from using it. Especially at double the interest rate!
Most vacant land around here seems to be priced at $10k - 12k per acres. Stuff priced at 7-8k doesn't last long.
Our mortgage company reminds me every couple of months about all of the equity we have available to use. I don't have the heart to tell them I couldn't afford the payments that would come from using it. Especially at double the interest rate!
Most vacant land around here seems to be priced at $10k - 12k per acres. Stuff priced at 7-8k doesn't last long.
Here's a perfect example. 60 acres of woodland, 20 in pines, and 40 in scattered hardwoods. A small cabin. $480k.
kimberlybuchanan.beiserrealty.com
Beechnut Lane, Redgranite, WI 54970 | MLS ID 50272843 - Beiser Realty, LLC
Photos, maps, description of Land For Sale at Beechnut Lane, Redgranite, WI 54970, asking price of $480,000
kimberlybuchanan.beiserrealty.com
Wind Gypsy
5 year old buck +
Wouldn't have guessed values are that high out there, wow!
SD51555
5 year old buck +
That seems like crazy town for row pines and a little cabin like that. Maybe there's a ton of value in those pines, but it doesn't seem like a dynamic hunting parcel.Here's a perfect example. 60 acres of woodland, 20 in pines, and 40 in scattered hardwoods. A small cabin. $480k.
Beechnut Lane, Redgranite, WI 54970 | MLS ID 50272843 - Beiser Realty, LLC
Photos, maps, description of Land For Sale at Beechnut Lane, Redgranite, WI 54970, asking price of $480,000
Hoytvectrix
5 year old buck +
Seeing how that is marketed and then the price makes me feel like there is still quite a huge gap in price per acre within the midwest or even a state. I'm going out on a limb here, but I feel like people are just so against driving even a few hours that it helps create these differences in price vs. hunting value. Looking at Wisconsin, that is probably one of the most established deer hunting cultures, and people are paying 50% more for weaker hunting land than say Missouri. I think Missouri has a pretty established hunting culture as well, but even within that state, you aren't really seeing a whole lot of people willing to drive more than a few hours to their hunting property. With that said, I drive 5.5 hours to my land (from MN to MO), and know of several people that will drive 4-4.5 hours up north in MN, and they are constantly complaining about the hunting experience. So maybe for many it is driving time + comfort with the area?
If you listen to the Land Podcast, something Jake Hoffer or his guests bring up is that "good deals" are going to gradually get more difficult to find. If I am right about the driving distance, then I could see "good deals" or a higher quality hunting experience with an affordable price still obtainable for quite a bit longer.
If you listen to the Land Podcast, something Jake Hoffer or his guests bring up is that "good deals" are going to gradually get more difficult to find. If I am right about the driving distance, then I could see "good deals" or a higher quality hunting experience with an affordable price still obtainable for quite a bit longer.
Midwestern Illinois rec ground will bring $5500 to $6500 right now and I've seen at least one place bring way more. Virtually no inventory. I bought 47 acres in November 2019 with 17 tillable for $3300 an acre by comparison. I bought a 40 with 12 acres tillable back in 2006 for $2600 an acre. I then bought another 40 of all timber for $2800 an acre in 2009. All of this in Adams County, Illinois. What has happened in the last 2 years just absolutely blows me away and freaks me out.
Bill
Administrator
Back in 90's my wife and I and 2 brothers started an ISP because AOL was a toll call from our area and people were racking up phone bills. Luckily it was a side gig we did nights and weekends and we kept our real jobs. When we reached 4000 customers paying monthly a large regional ISP made us an offer we couldn't refuse. My dumb ass accepted most of the payment in the form of their publicly traded stock. SEC rules say you cannot sell your stock for 12 month after these kinds of transactions.
Dot com bubble burst before those 12 months were up. Very hurtful, expensive, life lesson.....
The next time I was made an offer to sell a company the conversation started with me saying cash only or we ain't talking, I don't want stock!
I don’t know about the rest of these cats, but I really love reading ‘Bills life lessons!’ They give off a short but trustworthy “Rich Dad, Poor Dad” vibe.
Howboutthemdawgs
5 year old buck +
I know one thing, getting a mortgage for recreational land right now would about be a deal breaker for me. I feel bad for anyone trying to get something now. Has to be north of 8% for raw land?
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b116757
5 year old buck +
I would say that’s probably pretty close
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