Advice...needed from some older wiser people

There in lies my problem, I need to start doing something now, I can't be to spacific at the moment but I don't have 5 years to sit and just save....




American Trucker

 

I guess I will weigh in with my opinion for what it is worth. Land can be a great investment, then again in todays economy, you might be lucky to sell it for what you have in it five years from now. I agree with the others that said that 175K is probably a little much to bite off at your age. Remember, you are just a ripped off bumper from having to look for another job (hope it never happens to you, just keep it in mind).
I had a house built while I was on the road, and that was only possible with my wife having power of attorney for me. Even so, it was tough having to field questions about many matters while sitting in BFE.
Invest in a condo. One, it can serve as your residence. And two, there will probably be a lot of sales at that location or close by for you to make a comparison. Flip it when you are in a better position and then buy land.
Remember, you may have great credit now. You want to keep it that way. But a screw up at your age will also haunt you for a long time.
Good luck to you in whatever you decide.

 

Just do it!! Put a decent little camper trailer on the property for the few times a year you will be there until you can build something.

 

AT i am not a fan of borrowing money, you are already paying rent and getting very little in return a place to sleep once a month , how ever others are right also just one wreck away from unemployment. however if you get that land at the right price with low payment and put some type of travel trailer there you get two benifits your investment of ownership, and a place to sleep, build or what ever on 30 acres- not 50 by 100 lot that some people pay 50,75, 100k for. my property has lost some value due to the economy ,but i still live here, probably never will see the value that was lost cause i ain't selling anyway. and if you do loose your job for any reason, and have a reasonable payment on fixed rate interest. your going to pay rent somewere, unless you go back home with mom. so thats how i look at land. also land is not mt land if you buy the right piece

 

well luckily the carrier I drive for doesnt automaticly fire you just because you wreck a truck...or multiple trucks lol (from what i've been told). But I understand what your saying....but then again any truck driver could lose everything in a secound too soo i'm not going to let that slow me down lol




American Trucker

 

AT when you get that land you will need nice young lady to help design that house and fill that mt seat you got going down the road. you don't want ta find her in a bar room or ts lot that just asking for trouble. but if ya seek the LORD with your whole heart summit your life to christ ,and ask him to send the right woman into your life he will. she might not come tommrow but when she does she might be driving W900.

 

$5500.00 per acre is cheap for the Charlotte area. I'd jump on it if you have the means. Ditch the apartment & store everything else.

Buy a old motor home or even a old trailer house and put on the land to live in until you have it paid off.... Then build....

 

Nothing wrong with starting to do something now, but there are a few things you may not have considered. Do you intend for this to be an investment property? What is your guarantee that it will appreciate over the years? Why do you believe you need to rush out and buy raw land now? Do you know how much your yearly taxes are going to be? Raw land is a dinosaur and needs to eat (tax dollars). Have you checked the specs in the area (land values)? Have you had it appraised? My guess is that you might be paying too much. Why is the owner doing owner-financing? Out of the goodness of his heart to help people with bad credit? If you have good credit, why not just finance it and pay him out? (My guess is the reason he is owner-financing is because nobody will finance that property at that price). Have you looked into any other investments prior to this land deal?

 

AT i asked my wife this morning about buying that land she said banks will loan on just land might be little more intrest . also said check on that owner financing you don't need a realestate agent just use a title company , buy title insurance, to make sure you can get clear title do all checks on property electric, water or well ,septic perk test and acess to get on property from road or hwy. after that check with owner he might give you good intrest and payment that you can not pass up that how we bought our first property the owner was million air with land all over 5 counties we got good deal from him

 

When I say "investment" on this particular venture I'm refeering to an investment in my future. I have no intention to ever sell this property. I don't know much of anything about it just yet, I just found it.


I can't tell ya why I need to do something now.....I donno if you follow my blog/thread but if you do its part of the "secret".


If I an I'd rather do it with a bank. But I do know that he has tons of property hes selling most have houses on it and they all say owner financeing.





American Trucker