Foggy47
5 year old buck +
I dont own 200 plus acres. I own 110. I have considered buying some adjacent acres to mine which would put me in that category.....and I would do so if my family would keep it when I am gone. The thing is.....I have two daughters/ son in laws that have different views on owning with their siblings. I'm 75 years old and if I were to own more land and put allot of work into the property......it would all be for naught as I cannot see these two families wanting to own land together. Not that they are polar opposites....and they do get along.....they just have their own ways of doing things and they know that owning things together becomes complicated. If I were 20 years younger, I would likely go for it. I can afford to add more land....but, sad to say.....getting the needed work done is now becoming a "chore" and at my demise it will just get broken in two and sold.
There are three adjacent parcels to mine and each could make my place a real deer-Mecca. But I resist getting into a negotiation on these pieces due to my situation above. Plus today's prices are getting crazy. So....I have put-off any future additions and prefer to keep assets in stocks and my other residential real estate (I got a nice place in AZ and MN). We have enough land for my hunting and shooting purposes.
I think the OP's question really was "how do you get the wealth to buy this kinda land?" Not sure there is any "one size fits all here"....everyone has a different way of gaining wealth. I had allot of different "careers" in sales jobs - mostly in the industrial sales area. Lots of travel....and fishing trips, expense accounts, company cars, etc. Made pretty good money and did fairly well on investing into the markets and upgrading my homes over time, etc. But, I came to the conclusion that I was never going to meet my financial goals by working for somebody else. So when I was about 40 years old.....after ten years with my last employer.....I started a small manufacturing company and developed a line of my own products that we sold across the country and some abroad. That business always provided much more than my old sales jobs. Sold the company a few years before the meltdown in '08 and really rang the bell on that sale.......because I had built a very profitable company with some unique products (lotsa work and good fortune). THEN bought my hunting land (among other changes at that time.). I wish I had bought a larger parcel......as the goals changed over time. I'm not sure I would have bought that land had I spent my years working for someone else. Doubtful for me. To me the hunting land is a "luxury" and does not provide income to make it a great investment. That could be different in the better ag country than it is where my land is located (in the north woods). Your results may vary.
There are three adjacent parcels to mine and each could make my place a real deer-Mecca. But I resist getting into a negotiation on these pieces due to my situation above. Plus today's prices are getting crazy. So....I have put-off any future additions and prefer to keep assets in stocks and my other residential real estate (I got a nice place in AZ and MN). We have enough land for my hunting and shooting purposes.
I think the OP's question really was "how do you get the wealth to buy this kinda land?" Not sure there is any "one size fits all here"....everyone has a different way of gaining wealth. I had allot of different "careers" in sales jobs - mostly in the industrial sales area. Lots of travel....and fishing trips, expense accounts, company cars, etc. Made pretty good money and did fairly well on investing into the markets and upgrading my homes over time, etc. But, I came to the conclusion that I was never going to meet my financial goals by working for somebody else. So when I was about 40 years old.....after ten years with my last employer.....I started a small manufacturing company and developed a line of my own products that we sold across the country and some abroad. That business always provided much more than my old sales jobs. Sold the company a few years before the meltdown in '08 and really rang the bell on that sale.......because I had built a very profitable company with some unique products (lotsa work and good fortune). THEN bought my hunting land (among other changes at that time.). I wish I had bought a larger parcel......as the goals changed over time. I'm not sure I would have bought that land had I spent my years working for someone else. Doubtful for me. To me the hunting land is a "luxury" and does not provide income to make it a great investment. That could be different in the better ag country than it is where my land is located (in the north woods). Your results may vary.