Update 3/15/2016 on the land purchase. We are now talking days till closing finally instead of weeks/months. My side of things should get the HELOC wrapped up in the next week and the Title company preparing the deed work and everything should be done around the same time. Coming together nicely. One great thing was that the survey came back and it is actually another acre larger than expected...so 22 and some change will be what changes hands. The seller has granted me an easement to come in from the West when I need to and also taking care of all sale arrangements, survey, taxes and such...so really has been amazing. The map below doesn't show a 2 acre or so square woods I'm getting as well that attaches flushly along the E border and all the way at the top (N). ***Below is original post*** Okay, so as many of you know I don't own my own ground. In my part of Indiana land simply is not a average Joe's salary type item (sometimes going upwards of $10,000-$15,000 an acre...with sub-quality ground rarely dipping below $5K).... ...in my line of work I deal with property owners and today I was approached by a man who has zero use in his opinion for his low lying (portions turn to swamp in wet years) 22.96 acres. Discussion arose that he'd be willing to sell it for $2,000/acre if I was interested. Obviously the sheer offer caught me off guard, but sometimes the best property's to buy are the ones you have different opinion of valuable use. This man is not outdoorsman at all, he is a business man and actually operates his business off a property located beside this one. The property is situated in a mixed type set up with commercial/industrial buildings to its NW. Residential homes to its SW. Agricultural fields to the SE and E of the property. Chunk of timber (20-30 acres) to the NE and more across one road on to the NE in the 50-80 acre range with some fields as well. Overall there is a strip of undeveloped farmed, wooded or blueberry patches in the area ranging around the 400-500 acre range, with only 2 roads cutting that up. Plenty to allow a huntable population, but for how long is the question before more development creeps in. The property itself is a big rectangle with a smaller rectangle stuck off the top part of it creating a "handle" to the W and the County Road there. The property itself has a portion that could be farmed but sits fallow...as well as a long stretching "trench" style pond in the center of the biggest rectangle. Road access on two points (NW and S) on the property. Is it prime location? Not so much, but for the price it could be considered prime for the cost. The only thing holding me up on the purchase is one of the farmer's I currently hunt property on says he will give me a chance to purchase his place or the hunting ground on it. This is PRIME ground, as it borders a State sanctuary wildlife spot where no hunting at all is allowed...hunts much bigger than it is due to this. In my shoes what do you do? Hold out and save up for the primer ground (farm I hunt now) which may happen in the future....or if this owner is serious about selling buy this place and begin turning it into a great little hunting spot? Any thoughts appreciated. **Edited for additional information below** Drove by it 2/19/2016 and it is a thick looking property with a ton of deer tracks and couple bare ground trails running out of it. Looks very promising...I am beginning to think the owner may only be desiring to sell the back 18 or so acres and not the NW corner finger which is most suitable for building. The entire property though is zoned for commercial use type so that is a bonus!
Unless you have something in writing with the farmer, I wouldn't necessarily rely on that ground option. A lot can happen between now and the undetermined timeline of when/if he decides to sell it to you. Go with what's available if you truly think it has potential and/or you know you can make it into what you want.
If you feel your odds are fairly decent at buying that farm then I would wait. That is what you really want right? Plus you are able to hunt it now anyway. Sure it is nice to own it yourself but settling is something that will likely bug you for many years. Another option is to ask your "businessman" to lease it to you for 1-2 years and get a feel for how good it is or can be. A test drive you might say and I bet the owner can appreciate that. Maybe it is better or worse than you think and that will make your decision easier.
Bird in the hand or the one in the bush... Sounds pretty straight forward to me Knowing you and your ability to promote good habitat.. It will take you 3 years tops to have your own little honey hole! Really like that it has a a funnel leading from the creek to the east.
(1) Buy the property below ($2,000 an acre) fair market value. (2) Have fun developing it, document and then market your success on the property and sell it for fair market value ($5,000 an acre). (3) Take the profit and lower your liability on the farm you want.
That's tough. I'd walk around over it ad scout it very well with little interest (if you have not done so already). I don't like the placement of it personally and the fact it floods or is a swamp isn't a bonus considering it looks to be a residential area. Use of a gun is likely to be an issue so probably mostly archery only...which is fine for deer but severely limits it as a general wildlife recreational property. If it's loaded with deer now because it's a central refuge and a travel corridor, I'd be seriously interested. If there's a possibility of selling it for a fortune for development in the future, it's worth consideration as an investment and perhaps the profit could be used on the prime land or similar. The fact that a businessman is wanting to dump it on the cheap (relatively speaking) makes me nervous...does he know what he has...that could be good or bad depending on the answer. Businessmen are good at sticking people for a little profit and letting them get blindsided by publicly unknown details. If it's loaded with deer and looks to do so reliably for years to come then it likely suits your needs and may well be worth while. There's nothing wrong with wanting your cake and eating it too, The big deals are the one's it's important not to "settle" for in spite of some problems without very good cause....be careful and good luck.
That'd be good. I don't know, it has the looks of a potential deer honey hole and for that 22 acres is a good chunk. It almost looks like it could be a central refuge, deer paradise, like a big park in the middle of a suburb. At the same time, it could be a high risk situation too. For one thing, I'd imagine even if it is or is developed into a hunting honey hole...trespassers are going to be a hell of a challenge to control, just walking in willy nilly from neighbors. How many are already in that habit because those are extremely hard to break of that habit.
They aren't making any more dirt today. If you can possibly swing it, I'd do it. My wife and I built our house on 10 acres. The house next door came up for sale. It sat on 19 acres. I was sure that whoever bought the property would divide off the portion between us and them so I approached them and asked if they would consider selling me the field between us, (15 acres). Did we need it? No. However, I wanted to not have a house next to us so much that we borrowed and bought it. It has been one of the pleasures of my life to not go out in my backyard and worry about someone watching my every move. If/when we do ever decide to move, the value today is more than triple what we paid for it.
My concern would be with trespassers with the extent of the developments around it. Still, getting your own land is something that will always be an investment. I would try to swing a deal to include hunting rights on the adjacent property to double your available land. Good luck!
You can lease an absolute prime $2k per year property for 20 years at that price and still come out ahead after taxes, etc. I wouldn't buy unless there was a different reason for buying, or if it's the perfect piece of property that you know 100% holds deer of the caliber that make you happy. Just my thoughts.
Different folks different strokes. I am 100% the opposite. I would pretty much never lease unless it was dirt cheap and the perfect situation. I would rather buy and own a piece of land that has worse hunting than the leased land and say it is my own dirt and do exactly what I what to do it with when I want to do it. As long as the hunting is decent I would rather own. That is just me.
Most of my land that I own is considered non-buildable wetlands. And is wet almost year-round, not standing water, but wet. This is how I was able to buy land on me and my wife's salary. Just like this property you're describing there are dry spots for food plots. I love it, it's mine, all mine. I get an amazing amount of satisfaction seeing deer on MY property, knowing that the work I've done keeps them coming back to MY property. Unfortunately talk is cheap. Anything could happen to the person you lease from, or the landowners property you currently hunt on. Then what? An opportunities presenting itself, If it were me I would buy. Sent from my iPhone using Tapatalk
I will add that if the other ground that you hunt is your true "want," then get something in writing. That's what we did with the land we intend to purchase. I have the option to opt out if the time comes, but I have a written legal document giving me 1st option to buy at a documented price. Lawyers were involved, but at least I know it's a sure option if I want it.
I've been a pretty vocal advocate of buying land, even just to own it temporarily or regardless of how small it is. So personally, I would buy it with the intention of improving it and then selling it if/when development starts to creep in. I would continue to hunt it since I assume you can still hunt the farm even if you buy the land from him, right? But even with hunting aside, land is an investment because if residential development creeps in, yay ($$), if commercial development creeps in, YAAAAAY ($$$)! You could hold onto it and continue to hunt the farm as well as the property that you can manage and improve to your liking and when the time comes to buy the rest of the property (if that ever becomes an option) then you already have some of the land acquired. If not, sell it and use the return to purchase land of your choice somewhere else.
Also I appreciate everyone's responses! Especially coming from guys I've grown to respect in this thread (can't believe I said that Joe haha joking!). Each one of you fit that category. Continued thoughts welcome and thank you in advance!
Understood. Just providing a slightly different perspective. I've done both. Spent almost 10 years managing property I owned and my family owned in PA. Had very limited results there and got very frustrated over that. I spent enough money (aside from purchase price) to have gone on hunts in some of the best parts of the country or to have leased the best land possible in the state. To contrast this experience, I've spent the last two years leasing high quality ground in IL and have had amazing success, fun, and opportunities in a short period of time. I've got two great bucks on the wall and screwed up the chance at a buck of a lifetime this year plus encountered several other deer in the 140"-165" range..........all in just two seasons. I'm kind of split now. We are in contract on a new house that has a lot big enough to provide some hunting opportunities. I'm excited about that, but wouldn't have done it if we weren't planning on living there. Ultimately I'd like to own some quality ground someday but I won't pull the trigger on a hunting specific property again unless I know it's absolutely going to provide the opportunity to hold deer that interest me. Until then I'll be happy hunting my 6 acres behind the house and having a decent lease to visit as well.
I am striving to stay unbias atleast here and gather input from people...the biggest discussion is going to be with the wife and with my Lord. If I don't have the support felt from both of them the way I'm leaning will be irrelevant. I will share later tonight when home and not busy with work some of the pro's and con's I see...and perhaps share which way I'm leaning. **The plan is to have a discussion tomorrow with the owner and set up a meeting on the property. He wants me to come see it, and simply said he sees very little value for all but along the road...we will see if his tune changes.
