dcmdon
NES Member
Berlin isn't that far north from Conway.
But your point is still valid. Pittsburgh NH is not going to be the next North Conway.
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Buying land just for the sake of buying land?
- Thread starter Nick Leduc
- Start date
But your point is still valid. Pittsburgh NH is not going to be the next North Conway.
30k to get power?? That's outrageous!!
The South Kentucky RECC ran 1000 feet of primary line, set 3 poles with guys, 400amp drop transformer and pulled the cable from the transformer into meter box, then connected to my panel which is back to back from the meter box.
Called on a Thursday afternoon at 3:00pm, the crew was here the following Monday morning at 8:00am and gone by 11:00am.
Total cost to me $0.00 dollars.
A year later, I built a shed near the middle pole and set a temp service box with a weatherhead and they came out and installed another drop transformer there and connected my temp service FREE.
They'll run 1000 feet from the road to a house FREE and 300 feet from the road for an out building FREE. The pole was already set for the temp service so it was just bolt a transformer to the pole, install the fuse hardware and drop the service cable to the temp weatherhead.
I bought another 20 acres about a mile from the 40 I live on, just because. I know the elderly owners and they were looking to reduce their tax bills. They still own about 200 acres around town.
Why NOT buy land. It'll never go down in value.
Why NOT buy land. It'll never go down in value.
nstassel
NES Member
dcmdon
NES Member
My example was in NH, like I said, not KY.
The NHEC charges $27.91 per linear foot to pull an above ground service.
This includes all supplies, poles, wire.
They charge $21.77 per foot to pull underground service. This includes only wire. You are required to install conduit and junction boxes at your expense in addition to this fee.
My personal experience.
I bought the lot I am currently on because I wanted to be nearish to work and away from people. I searched for like 4 years and my place came up and the location was a good fit for me. I built a small house on the place and I have no mortgage. I have about $80K invested in the place and the valuation was $160 when I went to get a HELOC.
A couple years ago I bought a place near Pittsburg NH for $20K. It has somewhat of a road to get to it. The "road" doubles as ATV and snowmobile trail. it has good cell reception, line of sight to the WISP that operates up there. There are lots of animals to shoot if I were into that. It has a million-dollar view that is all grown in and when I bought it there was an old shack with racoons living in it. I just took delivery of a sawmill capable of cutting 26 inch logs. I will be harvesting logs at my MA place and using the lumber for a camp on the NH place. I will also restore the view and install some off grid power on the site. A camp next door with NO view just sold for $55K. I'm thinking that the camp I build will be worth $75-100K when I'm done using it.
Guess my thinking on land is to improve it in ways that don't cost very much. Tearing down old shed is free. Cutting down trees is the cost of gas and chainsaw chains. Camp built using basically free wood, etc etc.
I bought the lot I am currently on because I wanted to be nearish to work and away from people. I searched for like 4 years and my place came up and the location was a good fit for me. I built a small house on the place and I have no mortgage. I have about $80K invested in the place and the valuation was $160 when I went to get a HELOC.
A couple years ago I bought a place near Pittsburg NH for $20K. It has somewhat of a road to get to it. The "road" doubles as ATV and snowmobile trail. it has good cell reception, line of sight to the WISP that operates up there. There are lots of animals to shoot if I were into that. It has a million-dollar view that is all grown in and when I bought it there was an old shack with racoons living in it. I just took delivery of a sawmill capable of cutting 26 inch logs. I will be harvesting logs at my MA place and using the lumber for a camp on the NH place. I will also restore the view and install some off grid power on the site. A camp next door with NO view just sold for $55K. I'm thinking that the camp I build will be worth $75-100K when I'm done using it.
Guess my thinking on land is to improve it in ways that don't cost very much. Tearing down old shed is free. Cutting down trees is the cost of gas and chainsaw chains. Camp built using basically free wood, etc etc.
I don't have the funds to afford the play, and it would probably require convincing some big companies to play along. There are a lot of rust belt areas that have some of the infrastructure to support more people and land is cheap compared to the New England area. If I was a billionaire playing around I would buy up chunks of a nice town on the decline, throw some money at beatifying the down town, and then sell it as a remote worker's paradise. The critical element is having a reason why someone would want to pay multiples of what you bought it for.
Also, I think in certain areas the expansion through sprawl will be replaced with housing expansion through densifying. At a certain point a cape style house on a 1 acre lot will have a higher and better use as two bigger houses, a duplex, or a triplex. If people want to live on a big lot by themselves they are free to pay the premium but more and more will compromise and buy a condo or other joined type place as that is the available entry level pricing option.
Where are you looking to buy land?
The North East is not the rest of the country. Up here you have a lot of people with pretty good infrastructure, a large network of cities and towns between NYC and NH with big cities in between that attract a lot of people, have high paying jobs, and they are all fairly close to each other 3.5hrs South you get to NYC, 3hrs west you get to Albany and in between you have millions of people.
If you are buying land near big centers of population, then your thought makes sense. But that might not be cheap land unless its mostly unusable land.
If you re buying in bumf*ck nowhere Midwest, it will be a different story.
Might as well buy some rundown POS house/warehouse that needs to be demolished in the city and sit on that lot. As the city expands and there is less space, that becomes a prime location.
Not a bad idea, though there is a unique holding risk with buying a nuisance in the city. There are plenty of people to raise a stink and shake their fist at you while you are holding it.
If you are holding out for a good offer and the city gets sick of the vacant building or deems it a hazard they are going to try to strong arm you. Heck, what happens if it becomes a "collective" of artists squatting in there? They might just make you bring the entire building up to code and forbid you from evicting them. Also, will you be forced to remediate any hazardous waste that is on the property?
Every place has its risks, though buying a warehouse is something I had not considered previously. Will have to keep that idea in the back of my head. I am very interested in industrial real estate.
D
Deleted member 67409
The problem with old industrial property, especially here in New England, is the question of who's going to pay the cleanup bill for the pollution on the property.
TN, FL, AZ, NM, UT are my top 5 I was looking at.
No. You buy it and tear it down. Sit on a lot.
No risk of bums moving in, city fines because its not safe, angry fire department chiefs ...
Sit on an empty lot, maybe an empty lot full of trash (not toxic).
I can only speak for FL and mostly West Coast.
FL is expanding like CRAZY. Go to a neighborhood today, come back in 4 years and you will find 7 more miles of new neighborhoods behind it with a new High School for the area, this is near Clear Water.
They are also building a lot near Naples, and plenty of people have backyard ranges. My ex boss just bought 6 acres there.
There is definitely opportunity there and when you sell, you dont sell to a person, you sell to a corporation (developer), they pay fast and make good offers, even on homes.
An added bonus to Florida is everything grows there. You can have all sorts of tropical fruit trees. There are a lot of small farms near Miami growing dragon fruit or passion fruit, I forget what it is called.
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I have a Karma issue with people buying property for unpaid taxes.when my brother was alive, there were tax auctions going on in Colorado. If you do not pay tax for four years, i think it was, they auction off the rights to your land. but there is a long holding time where the owner can "buy back" the land if he just pays the back taxes, and you lose out (if i recall, you DO get YOUR money back then)
there were some fair sized ranches coming up out there, lots of 3-5 acre, 10 acre, some 50 acre, and some even bigger plots. was tempted, but jeez, what do i need a plot of land 2000 miles away for. and now that he died, half the reason for going out there is gone now.
the key was to buy a property at tax auction cheap, then hold it for the grace period hoping that the original owner did not pay off the back taxes. Kind of like buying scratch tickets in the lottery, for a 1 in 40 chance of winning
People would get water and a septic tank going, put up a small garage with electricity, and boom, move an RV there for the week and you had a hunting lodge!
What Happens If I Don't Pay Property Taxes in Colorado?
If you fail to pay your property taxes in Colorado, you might lose your home after a tax lien sale.www.nolo.com
not sure if other state have a similar scheme, but it was a cheap way to become a "land baron". Literally for tying up say $3000, you might end up with a huge plot of land, and maybe some buildings on it too.
And ya never know how many relatives of the people are seriously thinking about you as a target in your future.
otherwise it is a great idea.
71montess
NES Member
You pay taxes on that land so you never really own any land, .gov does.
Asaltweapon
NES Member
You don’t have to support it but if you fail to pay it say goodbye to your stuff.
Asaltweapon
NES Member
They don’t have to deal with environmental studies, EPA and DEP regulations just to get a list started.
