Buying land in your 20s

[IowaBowHunter1983]

"It must be nice..."

That saying annoys the living shit out of me on so many levels. You articulated many.

 

[JNRBRONC]

That saying annoys the living shit out of me on so many levels. You articulated many.

"It must be nice..."

Add:
"Did you inherit the family farm?"
"If I owned land..."
"If farmers take subsidies, the land should be open to hunting..."
"You don't own the wildlife..."
"Years ago, I could..."

 

[JNRBRONC]

Apologies for the slight hijack.

Back on point, buying the ground isn't the only cost. Property taxes, liability insurance, maintenance (fences, new well, plots, etc.). I'm sure your mortgage lender will point out some of those costs and maybe add them in.

 

[chipterp]

Find a nice lease and don’t worry about insurance property taxes interest and enjoy. Figure out how much interest you’d save over the years and you can have a bigger farm to enjoy . Prices of rec ground are hard to justify these days sometimes starting from scratch imho

 

[Steve-O]

Lots of good data..but one thing I'd say is you are looking at it partially from the wrong perspective. I started this way because I wanted my own spot to hang a stand and man did I "f" up. Land is great but income producing land is better! Get out of the mentality of it's mine when you are young...buy the 10-20 acres...that's ROW crop and rent it. Use that money to pay it off and then double it and keep leap frogging the cash roll. I wish I would done this earlier. Started later in life but bought the 20, then the 40, now the 80, and then another 80. Eventually I will get handed a good chunk which just builds the buying power if I want. And now letting the account build up for a piece I really want. I don't like banks....

But as others have stated..if you can lock up a lease go for that while you look.

 

[habitat]

Theres ways to make the extra money.As mentioned before listen to The American land man and The Land podcast.Great info to start out with

 

[Pops]

I haven’t read all these posts yet but what I’ve read has plenty of good information. One thing I didn’t notice is to sit down with your wife and come up with a plan together. Then be ready to work hard.

 

[habitat]

I have found that usually those people that are saying those things buy a pack of cigs,case of beer or 30.00 worth of scratch tickets a day so they are spending their payment in a different way.

 

[booneriverbucks]

I haven’t read all these posts yet but what I’ve read has plenty of good information. One thing I didn’t notice is to sit down with your wife and come up with a plan together. Then be ready to work hard.

Yep!! Don’t tell your wife after you bought the land. It gets a little awkward