Just puchased 6 acres, now what??

[lugbolt]

You forgot that I work for an equipment rental company

Somehow...I did. Lucky you!

 

[RCW]

You forgot that I work for an equipment rental company

That will be handy!

 

[Daren Todd]

That will be handy!

It's actually cheaper for me to rent from a competitor. Back when equipment rental was sharing a location with us, it was different. Then I could take something home for weekend for an extended "Test"

 

[Biker1mike]

Arkansas is hell bent and gone from here but let us know when you throw the first barbecue.

50 some years ago a friend stopped by our trailer. When I asked how he found me in a large park he said he saw a willow tree with a case of empties and a smoker going all out and just assumed it was us !
Best of luck !

 

[North Idaho Wolfman]

It's good to get what you can, when you can!
Property up here has sky rocketed since 2019.
My place has gained 2361% from when we bought it 12 years ago.

 

[Daren Todd]

It's good to get what you can, when you can!
Property up here has sky rocketed since 2019.
My place has gained 2361% from when we bought it 12 years ago.

It has here as well. There's a 4 acre lot that's in a bean field that they are trying to get $85k for. Lands flat and cleared. But also turns into a mud pit for 6 months put of the year.

$45k for a two acre wooded lot that is mostly steep hillside.

It's gone absolutely nuts around here.

I'm glad we found what we did. We getting absolutely disgusted with house and property hunting.

 

[Poohbear]

We are building a barndiminium right now. We live in our fifth wheel rv at the moment. We owned our place for about 7 years now & have a 24/36 shop & a 30/40. They are both full of furniture etc & I had to plumb a washer & dryer into the 24/36.
House is 30x64 with a 10 ft porch along the back with 22/24 carport off the corner. Framed with 4/4 steel tube on the uprights with 4 in c purlins tying 4/4 together. The uprights support 12in Ibeams with 8 in purlins. We also have 12 inchs of over hang on all the roof edges so it doesn't have the shop look. Rock wainscot across front. . 3 bedrooms, 2 1/2 baths, roll in showers in both full baths, all doors 36 wide so my Wife's mobility scooter has no problems. Interior conventional wood frameing.
I contracted the steel shell , plumbing,& concrete with folks I've had shop buildings done by in the past. I'm doing the AC, electrical, & maybe paint. Cabinets by a local 1 man shop that's about a mile down the road. My sheetrocker & tape/texture guys I've used before. The tile guy that will do the showers & lay flooring I've not used but have seen his work.
Living in the RV is way different than traveling in our rv. You got to really like being with your spouse. The big deal for us is our old house had 3 full baths & you get real used to not haveing to share one..
Yes, we are over budget but will make it with out any financing

 

[Daren Todd]

We are building a barndiminium right now. We live in our fifth wheel rv at the moment. We owned our place for about 7 years now & have a 24/36 shop & a 30/40. They are both full of furniture etc & I had to plumb a washer & dryer into the 24/36.
House is 30x64 with a 10 ft porch along the back with 22/24 carport off the corner. Framed with 4/4 steel tube on the uprights with 4 in c purlins tying 4/4 together. The uprights support 12in Ibeams with 8 in purlins. We also have 12 inchs of over hang on all the roof edges so it doesn't have the shop look. Rock wainscot across front. . 3 bedrooms, 2 1/2 baths, roll in showers in both full baths, all doors 36 wide so my Wife's mobility scooter has no problems. Interior conventional wood frameing.
I contracted the steel shell , plumbing,& concrete with folks I've had shop buildings done by in the past. I'm doing the AC, electrical, & maybe paint. Cabinets by a local 1 man shop that's about a mile down the road. My sheetrocker & tape/texture guys I've used before. The tile guy that will do the showers & lay flooring I've not used but have seen his work.
Living in the RV is way different than traveling in our rv. You got to really like being with your spouse. The big deal for us is our old house had 3 full baths & you get real used to not haveing to share one..
Yes, we are over budget but will make it with out any financing

That's the issue with an RV. It's all fun and games till someone has to poop

 

[Henro]

It's good to get what you can, when you can!
Property up here has sky rocketed since 2019.
My place has gained 2361% from when we bought it 12 years ago.

Hopefully your property taxes do not raise at the same rate! Maybe you are lucky and don't have property taxes where you are? Or maybe they are not based on market value, which is good too.

 

[North Idaho Wolfman]

Hopefully your property taxes do not raise at the same rate! Maybe you are lucky and don't have property taxes where you are? Or maybe they are not based on market value, which is good too.

Oh yea sadly they shot up too!

 

[Poohbear]

That's the issue with an RV. It's all fun and games till someone has to poop

No big deal.we've had one kind or another rv since 1979 . It's just a routine you do. Every Tuesday it's dump & while that's going on roll the trash can down to the road for trash day
We really never had a thought about living out here. It's been one of our hideaways & a place to store the rv. I have a 20/45 rv shed with concrete pad. Now our hideaway up in Arkansas ( Carroll County ) is pretty primitive.

 

[BAP]

However you end up going with your project, evaluate every aspect for your future needs as you get older and your mobility becomes less. Make sure you enjoy it now but also can still enjoy it and maintain it as you get older.

 

[Daren Todd]

However you end up going with your project, evaluate every aspect for your future needs as you get older and your mobility becomes less. Make sure you enjoy it now but also can still enjoy it and maintain it as you get older.

Yes sir. We had already discussed that. The double wides what we are looking at have a walk in shower for the master bathroom as well as doors wide enough for a wheel chair.

Gonna build ramps to access the decks when we build them. Beside the fact that it's much easier to bring something heavy up a ramp with a dolly, then trying to muscle it into the house up a flight of stairs.

 

[country_hick]

Im in

Yep, that's one way. I knew a guy in Texas that lived in the two bedroom garage he built, then built their three bedroom house.

I knew a man with at least 3 kids who built his gambrel garage so the kids would have bedrooms upstairs planning to build a house at a later time. Around 40 years later that garage is still a house and probably always will be. The moral of the story is to be sure you can live with what might be a garage if things do not work out as planned.

A friend of mine bought a house trailer. As quickly as he paid off the note the trailer depreciated. He finally sold it for under $10k. (I think under $5k). Buying a house trailer is buying a liability not an asset.

 

[lugbolt]

yeah land is nuts here

people moving in from out of state bringing lots of money with them, they'll pay 300% more than anyone else will, because they have it to spend.

2017 I had opportunity to buy a 1500' stick built house on a crawlspace, on 2 1/4 acres, in the hills but on a highway, $69,000. I didn't have the funds. I do now but that same house is now $150,000, and I don't have those funds. Stuff's gone up faster than my pay. Same lady, owns (or owned, she passed in 2020) 71 acres along the creek. Beautiful. Stunningly beautiful, property. I have told them I want it and they said when the time comes, I'd get first shot at it. They owe nothing on it, and got it for nothing (inherited). They have no use for land with nothing on it, they are not outdoors people at all. They sit at the house, and do nothing. Watch basketball games. Anyway, I was notified the other day that they listed it on a real estate place for a half million dollars. Nobody said anything to me about it. I want it so bad I can taste it but that's (1) stupidly priced and (2) stupidly out of my budget even if I sold ALL of everything I owned, cashed in my retirement, and used 100% of my savings, it wouldn't touch 1/3 of it. I'm heartbroken about it because that's the one place I wanted so badly I could taste it. it is, what it is, nothing I can do about it, so I'm looking elsewhere. Sadly, I am hearing that a company has come in and made a cash offer on it. Most likely a company owned by the chinese or the like, since TONS Of that has been going on here. us working people can't compete with that kind of money that they throw around.

 

[country_hick]

2017 I had opportunity to buy a 1500' stick built house on a crawlspace, on 2 1/4 acres, in the hills but on a highway, $69,000. I didn't have the funds. I do now but that same house is now $150,000, and I don't have those funds.

I want it so bad I can taste it but that's (1) stupidly priced and (2) stupidly out of my budget even if I sold ALL of everything I owned, cashed in my retirement, and used 100% of my savings, it wouldn't touch 1/3 of it. I'm heartbroken about it because that's the one place I wanted so badly I could taste it.

That sounds like me 30 years ago, then 25 years ago, then 20 years ago etc...

There was one house I wanted where the owner died of old age. The heirs were fighting so badly among each other that for years and years the property just deteriorated. No one would agree to do anything with the property (except pay taxxes). 2 heirs (if not more) kept waiting for the other heir(s) to die. The house is now complete junk. The shed fell in as did the barn. I checked in to see if that house would be up for sale for several years then gave up. You cannot always win in these situations.

I know the feeling. If I am $20k short of buying a house. I could save up $20k then I would still be short $30k. If I could save that $30k I would still end up $40k short.

The good news is house prices will be dropping. Those with cash will get better prices. As interest rates rise property prices must fall. Mortgage interest rates are going to rise. Economic growth will be reversed to eliminate inflation which will destroy jobs and incomes. Those who prepared financially will be able to buy better than they can now. I doubt 5 years will pass before house prices drop by 25% or more due to higher interest rates and or an economic recession or a depression.

 

[lugbolt]

That sounds like me 30 years ago, then 25 years ago, then 20 years ago etc...

There was one house I wanted where the owner died of old age. The heirs were fighting so badly among each other that for years and years the property just deteriorated. No one would agree to do anything with the property (except pay taxxes). 2 heirs (if not more) kept waiting for the other heir(s) to die. The house is now complete junk. The shed fell in as did the barn. I checked in to see if that house would be up for sale for several years then gave up. You cannot always win in these situations.

I know the feeling. If I am $20k short of buying a house. I could save up $20k then I would still be short $30k. If I could save that $30k I would still end up $40k short.

The good news is house prices will be dropping. Those with cash will get better prices. As interest rates rise property prices must fall. Mortgage interest rates are going to rise. Economic growth will be reversed to eliminate inflation which will destroy jobs and incomes. Those who prepared financially will be able to buy better than they can now. I doubt 5 years will pass before house prices drop by 25% or more due to higher interest rates and or an economic recession or a depression.

Yes. Financial advisor called the other day, said we need to talk ASAP. There is speculation of exactly what you are talking about. She's never (ever) been wrong in her prections of financial futures as long as I've known her, so we made some changes to my IRA and said be prepared to make more changes once we hit the bottom.

the boom years, I stashed it all back into different things. It wasn't enough to make a big purchase, but I did buy a car last year and paid it off in February. Debt free and loving it.

There's a house not far from here that's been sitting vacant for about 2 years now. I'm sure it'll need a ton of work inside and out. I've sent the registered owners a letter of interest. We'll see where that goes. 1480 foot, sits on 2.23 acres, backed up to a 245 acre cow pasture. I figure the pasture won't remain pasture forever. Probably be subdivided. Maybe I can get the house and rent it, or better yet just fix and flip.

 

[Daren Todd]

Been out on the property this week. Tree, trees, and more trees And one big briar patch

Some spots have been too soft to get in with the trackhoe. Got a bunch of brush piles.

Pull cord broke on the weedeater so no saw blade for the little crap. Whomever came up with the design for the pull cord assembly needs a punt to the nuts.

Had the spring come unsprung while putting it back together. Got pi##ed and ordered a new pull start assembly for it.

Got a driveway busted into the property as well.

 

[North Idaho Wolfman]

That is a beautiful chunk of trees!

 

[Daren Todd]

That is a beautiful chunk of trees!

We got one acre cleared. The rest is mature oak forest.