Quote:
Originally Posted by pornguy
Just something to think about..
Wife had a property right be fore I met her. She was not doing well with the payments at the time. 1.14 acres. I asked her how much she paid and what the monthly was and said hell lets make sure it gets paid and finally finished early. 2 years later we found out that they were building a University a few miles away.
Put it for sale at 8am on Friday morning. at 8:03 had 2 contractors bidding on it. Bidding started at my asking price of 49K. ( paid 12 k ) finally got my check about 4 weeks later for 57k after agent fees.
Land. They dont make it any more.
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That is for sure. About 15 years ago I bought one of those lots you sometimes see advertised that was kind of out in the middle of nowhere and cheap. It had no services and was in the sticks, but I thought I might one day put a cabin on it and use it a vacation hide out kind of place.
Anyway, I paid around $5K for it. About 5 years later I was offered $15K for it by a developer and sold it. A few years after that a different developer came in and built what turned out to be one of the best golf resorts/courses in the nation a few miles away. That shot the value of the land in the area way up. Those that held out then later sold the same amount of land I had for around 40-45K. Lesson learned. When someone is very interested in your land, find out why
I can't complain though, I made a nice profit and only ever saw the land once since it was about a 4 hour drive from where I live and I used the money to get the land I have now.