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Hell pecker yeah
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7,147 Posts
Discussion Starter #21
The lot is long and kind of narrow with a decent slope on it from the road down to the lake. I think that a water slide that shoots you right out into the cove could be profitable. The boot is a great idea. Make it a damn attraction.
 

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Super Moderator
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10,364 Posts
Yes or no on Utilities existing?
 

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Administrator
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Growing Pot?
Yup. There was a bit of a land-grab that started a little over a year ago. We gonna Cheech & Chong this place!

I was thinking of putting an empty cargo container on the thing, storing some gas cans, long guns, and ATVs, and then just have it to dick around on. It's pretty decent deer and turkey hunting, and there was a small, spring-fed pond. The deer lease market is decent, but nothing close to what Texas has in that regard. So... I ended up with a suburban money pit, similar to the Tom Hanks movie, instead.
 

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Hell pecker yeah
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7,147 Posts
Discussion Starter #24
Utilities are on the property. Water, sewer, electric. All up at the road, though. Worst case they would need to be run about a hundred yards.
 

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Yabba Dabba Doo!!
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2,002 Posts
What are they asking for owner finance? Being land it is hard to hard to get a loan or do they have bad credit? If the down payment is decent enough I would consider owner finance pending they have at least ok credit. They don't pay you just foreclose and then sell it again. One thing though if they build a house would you be able to foreclose on the land and house though?
 

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Hell pecker yeah
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7,147 Posts
Discussion Starter #26
Realtor said they were going to look at the three lots today. I should hear something tomorrow.

From what I understand, this person (or couple) bought a land locked place in the development across the street from me. They just want the lake access. You can drive a golf cart from their place to mine.

I was able to secure a 12 loan from a small local bank when I bought the place. I was planning on paying it off way earlier than that.

Still hoping that I get a decent offer to work with.
 

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Have Bar, Will Travel
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9,478 Posts
Personally, I'd just hang on to it. They aren't making any more land, especially lakefront land. Retire there or something. The annual cost to hold the property doesn't seem that high, and you aren't going to clear that much money after you sell it and pay the scumbag, er realtor, and you'll make even less money with whatever owner financing turns out to be.

Hell, stick a tiny house on it and put it on AirBNB. I'd love to rent a place like that for a week where I can bring my boat.
Similar thoughts.

hold on to it if you can do so - it will eventually go up in value - especially as they build out that lake front.

Question - do you have a boat already? Do you keep it at this marina now?

If you did sell it with owner financing, depending on state laws you might be limited to what interest you can charge on said financing. So if you don't already have a property lawyer in mind - start looking for one.
 

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06 Cyclone GTO
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3,494 Posts
I would hang onto it.
Have you thought about building something there and selling that.
Hire a custom home builder to build a 4/3 for not that much, and make profit?
 

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Hell pecker yeah
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7,147 Posts
Discussion Starter #30
Well the potential buyers decided to not buy anything at this time. I even made them a great offer just to get it gone. Oh well. It stays on the market for now.
 

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HGH Optimist
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6,623 Posts
"This here is God's land."

-digs in his bellybutton-
 

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HGH Optimist
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Dick Ross
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7,004 Posts
I'm actually looking to buy land in the near future. I want about 10-20 acres of wooded land. I can't shoot at my new house so I want a place I can set up a private range as well as have some hunting/camping ground.
 

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Hell pecker yeah
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7,147 Posts
Discussion Starter #36
It's like you guys know me!!

Richard, I would like that too. That's why I want to dump the lake lot and get some ranch type land.
 

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Hell pecker yeah
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7,147 Posts
Discussion Starter #39
Ha! FPFQ, that's great. In order for me to make a billion dollars in Real Estate I would have to start with two billion.
 
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