I may be losing my spot

[luberhill]

I’m upset but I get it,,,I have exclusive on 60 acres close to my house.. I post it and maintain the property , mow , brush hog etc

Also work for free whenever he calls at the stop if a hat …moving stuff , fixing stuff , working on their cars etc.

He now tells me he may want to sell.. he isn’t ever going to build or do anything with it etc.

Problem is he has about 320k into it.

Is mostly open land boardered by ag fields

Maybe 15 acres woods.. I hunt it alone.

I know he’s going to want minimum of what he has into it ..

Im going to offer to find a farmer to lease the tillable and I’ll pay the taxes of (3k) a yr…

But I doubt that’s enough….sucks but it’s not mine 

[landtracdeerhunter]

320 K sounds like a lot of money for 60 acres. Maybe if theirs road frontage for lots. Anyways , let's talk numbers:  Federal and State income tax 33 percent, 106 K;  Real Estate Sales Company,  4 percent,  13K; Lawyer 3 K. Up to 122K already gone.  Minus  other expenses.  190K left.    Where are they going to live? Doubt if that is enough for even a small ranch home.

 If the place is paid for. Where are they going to live for what they pay in taxes on that property?  Knowhere !    Use that and just maybe some common sense might just kick in.  Good luck.

Edited October 26, 2023 by landtracdeerhunter

[luberhill]

2 hours ago, landtracdeerhunter said:

320 K sounds like a lot of money for 60 acres. Maybe if theirs road frontage for lots. Anyways , let's talk numbers:  Federal and State income tax 33 percent, 106 K;  Real Estate Sales Company,  4 percent,  13K; Lawyer 3 K. Up to 122K already gone.  Minus  other expenses.  190K left.    Where are they going to live? Doubt if that is enough for even a small ranch home.

 If the place is paid for. Where are they going to live for what they pay in taxes on that property?  Knowhere !    Use that and just maybe some common sense might just kick in.  Good luck.

??? There isn’t road frontage for lots .. it’s just vacant land , no houses ..he bought the land two years ago ..not sure he would pay taxes on the sale ??

[luberhill]

Would 3k be too much to pay for a lease to him ? That’s the property tax amount 

[wolc123]

8 minutes ago, luberhill said:

Would 3k be too much to pay for a lease to him ? That’s the property tax amount 

Yes.  For that amount you could take a guided moose hunt to Canada and come back with 4x the (slightly better) meat than you might get, if you tagged out on whitetails, on his 60 acres.  
 

My recommendation would be: offer $150 to lease the 15 acres of woods.  See if you can find a farmer, who would pay $2850, to lease the 45 acres of tillable.  
 

[New York Hillbilly]

3 hours ago, luberhill said:

I’m upset but I get it,,,I have exclusive on 60 acres close to my house.. I post it and maintain the property , mow , brush hog etc

Also work for free whenever he calls at the stop if a hat …moving stuff , fixing stuff , working on their cars etc.

He now tells me he may want to sell.. he isn’t ever going to build or do anything with it etc.

Problem is he has about 320k into it.

Is mostly open land boardered by ag fields

Maybe 15 acres woods.. I hunt it alone.

I know he’s going to want minimum of what he has into it ..

Im going to offer to find a farmer to lease the tillable and I’ll pay the taxes of (3k) a yr…

But I doubt that’s enough….sucks but it’s not mine 

I would rest easy if I were you. Hunt and enjoy it as long as you can until it sells if he is agreeable. I can't see how anyone could possibly have 320k into 60 acres of land unless it was heavily developed into lots complete with access to things like public water and sewer. My guess is you will be hunting it for a long time. I doubt like hell anyone is going to pay that kind of money for 60 acres. Pipe dreams!

[Fortyneck]

Bummer

[luberhill]

45 minutes ago, New York Hillbilly said:

I would rest easy if I were you. Hunt and enjoy it as long as you can until it sells if he is agreeable. I can't see how anyone could possibly have 320k into 60 acres of land unless it was heavily developed into lots complete with access to things like public water and sewer. My guess is you will be hunting it for a long time. I doubt like hell anyone is going to pay that kind of money for 60 acres. Pipe dreams!

He paid 270 for it 2 yrs ago then built a pole barn on it

thing is , people are paying stupid money for land ,, 4 or 5 guys get together or guy from New Jersey or NYC come to the fingerlakes ..

they have money 

[New York Hillbilly]

12 minutes ago, luberhill said:

He paid 270 for it 2 yrs ago then built a pole barn on it

thing is , people are paying stupid money for land ,, 4 or 5 guys get together or guy from New Jersey or NYC come to the fingerlakes ..

they have money 

Holy crap! Ask him if he, or any buyer he finds, has a brother or cousin for me. I have toyed with the idea for several years about selling and returning to Alaska, or seriously downsizing with a small place out by Rochester to be near my daughter and grandson. It never hurts to ask, so it may be time to ask a realtor who has connections with these type of buyers. Still, my fingers are crossed you get to hang onto your spot

[luberhill]

Would offering to pay the taxes of 3k be fair ?? Or is that a lot for 60 acres

[airedale]

3 hours ago, luberhill said:

Would offering to pay the taxes of 3k be fair ?? Or is that a lot for 60 acres

It comes down to what it is worth to you personally to hunt that property, it is your call.

Al

[suburbanfarmer]

On 10/26/2023 at 6:53 PM, wolc123 said:

Yes.  For that amount you could take a guided moose hunt to Canada and come back with 4x the (slightly better) meat than you might get, if you tagged out on whitetails, on his 60 acres.  
 

My recommendation would be: offer $150 to lease the 15 acres of woods.  See if you can find a farmer, who would pay $2850, to lease the 45 acres of tillable.  
 

Not to derail the thread, no way a Canada moose hunt is only $3k. I would be happy to go if true

[wolc123]

5 minutes ago, suburbanfarmer said:

Not to derail the thread, no way a Canada moose hunt is only $3k. I would be happy to go if true

Right you are, I was using the pre-Bidenflation cost.  It looks like a 6 day, guided, est 85% success, Newfoundland moose hunt is up to $ 6k now.  
 

Even with that inflated cost, Luber would still be ahead, when it comes to cost per pound.  ($ 6k for 500 lbs of moose meat compared to $3k for 100 lbs of whitetail meat.).  
 

He’d  be getting 5x the (better) meat at just double the cost.  

 

[luberhill]

3 hours ago, wolc123 said:

Right you are, I was using the pre-Bidenflation cost.  It looks like a 6 day, guided, est 85% success, Newfoundland moose hunt is up to $ 6k now.  
 

Even with that inflated cost, Luber would still be ahead, when it comes to cost per pound.  ($ 6k for 500 lbs of moose meat compared to $3k for 100 lbs of whitetail meat.).  
 

He’d  be getting 5x the (better) meat at just double the cost.  

 

That’s if I only kill one deer there , I have 5 or 6 tags

[landtracdeerhunter]

On 10/26/2023 at 7:53 PM, luberhill said:

He paid 270 for it 2 yrs ago then built a pole barn on it

thing is , people are paying stupid money for land ,, 4 or 5 guys get together or guy from New Jersey or NYC come to the fingerlakes ..

they have money 

Quote, " He isn't going to build or do anything with it.."

[luberhill]

4 hours ago, landtracdeerhunter said:

Quote, " He isn't going to build or do anything with it.."

Original intention was he WAS planing on building a house on it .. plans changed and now he doesn’t have any plans and that’s why he’s thinking of selling 

[Enigma]

I'd keep my 3k in my pocket and lay low. Go about my hunting business like I always have. Keep my ears open and wait for things to play out. Lots of different ways this could unfold. No sense getting all cranked up about things outta your control.

What's plan B? You got other places to hunt? Maybe time to find some. Always good to have options.

Edited October 28, 2023 by Enigma

[suburbanfarmer]

9 hours ago, luberhill said:

Original intention was he WAS planing on building a house on it .. plans changed and now he doesn’t have any plans and that’s why he’s thinking of selling 

He could have put gold nuggets for driveway but the value of 60 acres cant be $320k unless its prime development real estate

Edited October 29, 2023 by suburbanfarmer

[knehrke]

Land prices be crazy! It's all location, right? And if it's mostly tillable, that increases its value. If the guy paid $270K for it two years ago, he's not going to want to take a loss. 

So, to point: it's never great to lose land, but it sounds like you've only been hunting there for two years. What about properties you hunted previously? And 3K a year for 60 acres isn't totally outrageous for a prime lease, but it's high. If you were willing to pay that much, you could likely find bunches of options.

Continuity is nice, but I'd take a good, long look around before proposing your solution.

[Four Seasons]

On 10/26/2023 at 7:06 PM, New York Hillbilly said:

I would rest easy if I were you. Hunt and enjoy it as long as you can until it sells if he is agreeable. I can't see how anyone could possibly have 320k into 60 acres of land unless it was heavily developed into lots complete with access to things like public water and sewer. My guess is you will be hunting it for a long time. I doubt like hell anyone is going to pay that kind of money for 60 acres. Pipe dreams!

55 acres next to ours in Livingston county went for 350k last fall. Big farms will pay the price. Push the 15 acres over and farm the whole parcel. Location is the key. 

[luberhill]

1 hour ago, knehrke said:

Land prices be crazy! It's all location, right? And if it's mostly tillable, that increases its value. If the guy paid $270K for it two years ago, he's not going to want to take a loss. 

So, to point: it's never great to lose land, but it sounds like you've only been hunting there for two years. What about properties you hunted previously? And 3K a year for 60 acres isn't totally outrageous for a prime lease, but it's high. If you were willing to pay that much, you could likely find bunches of options.

Continuity is nice, but I'd take a good, long look around before proposing your solution.

Yea this is in the fingerlakes and you Will not find 60 acres for less.. at least I’ve not seen it .

I wouldn’t even call it prime farm land , it was planted at one time but hasn’t been for years .

There’s a 22 acre of here I liked that again had very little woods but boarders farm ag fields ..

130k , and they don’t last long,

You get people from the city or New Jersey and a couple guys that want hunt land , that price is nothing !

The days of buying land for 2k and acre or even 3k don’t exist .. at least not around me 

[landtracdeerhunter]

1 hour ago, Four Seasons said:

55 acres next to ours in Livingston county went for 350k last fall. Big farms will pay the price. Push the 15 acres over and farm the whole parcel. Location is the key. 

Know wonder food prices are going through the roof.  Inflation city.

How  is that farmer ever roll over 350K  for 55 acres?  

Business can just walk away from debt, don't have to file bankrupt, and start a new.  What a racket.

Edited October 29, 2023 by landtracdeerhunter

[luberhill]

12 hours ago, suburbanfarmer said:

He could have put gold nuggets for driveway but the value of 60 acres cant be $320k unless its prime development real estate

Ha yea this is far from that , it’s in the country , no gas , water , cable , sewer etc

It can’t be subdivided due to lack of frontage ..

I think he overpaid but … there is nothing around here for less with that kind of acreage 

[hunter]

Lube, I think you're over committed to this property. First I think prices have come down since two years ago. More important you aren't considering all your sweat equity your giving away for free. I would think for 3K a year you could finance a smaller parcel that would suit your needs and you would own it. You might have to travel a bit to it but there's nothing like owning your own land. Good luck.

[wolc123]

On 10/27/2023 at 10:48 PM, luberhill said:

That’s if I only kill one deer there , I have 5 or 6 tags

How many tags did you fill on that 60 acres last year ?

Edited October 29, 2023 by wolc123