Land banking means buying raw, undeveloped land and holding it, often for years, in anticipation of appreciation as development and population growth reach it.
Log in to followBought 47 acres of dry pasture at $4,200 an acre in 2018, $197,400 plus about $3,800 in closing and survey. Flat, cleared, a mile and a half from a substation on a line that alrea…
Closed last month on 12 acres at $84,000, seller carried. Terms: $16,800 down, $67,200 at 5.5 percent interest only, monthly payments of $308, balloon at year seven. Taxes are $52…
I've posted here about analysis and no deals. This one closed in October and I want the numbers on the record while I still remember what I was thinking. 22 acres, $3,150 an acre,…
I've had 15 acres on a county road since 2016. Taxes are $310 a year, I do nothing to it, I drive out twice a year to walk the lines. The 5 acres behind me is landlocked. No road…
Two of us bought 40 acres of dryland at the exurban edge in 2019, $5,200 an acre, $208,000, 50/50 through an LLC. No income, taxes about $1,900 a year at the time, split. The thes…
I do renovations for a living, so land was the odd thing in my portfolio for a long time. This one closed out in the spring and I think the useful parts are the boring ones. Bough…
I bought this in my second month of looking, which tells you most of what you need to know. 2.5 acres, listed on a land marketplace at $7,900, closed at $8,900 with fees and the d…
I do small multifamily. In 2019 I bought 3.5 acres of scrub about a mile from where a new highway interchange was going to go, $28,000, cash, because a broker showed me the county…
First parcel, first anything. Asking was $74,500 for 11 acres about 40 minutes past the last subdivision on a state route, gently rolling, county road frontage on the north side.…
I do fast deals normally. Sixty to ninety days in and out, thin margins, everything I own is either under contract or under construction. So a nine year hold is the strangest thin…
Bought 22 acres at $6,100 an acre, $134,200 all in, planning to sit on it until the road widening pushed development east. Taxes at closing were $340 a year because the parcel car…