Author Topic: Might have an opportunity. Help keep your fingers crossed.  (Read 1901 times)

Lilburner

Might have an opportunity. Help keep your fingers crossed.
« on: September 22, 2018, 07:50:05 PM »
I've mentioned before on here that I'd like to pick up some more property around the BOL.

How about right next door?

One property, two home sites, one with a home, the other with all hookups and septic. It had been a mobile home site. It would be trivial to make it into multiple RV sites.

Kind of a long story, but the patriarch, who doesn't it own it because the ex wife left it to her two sons was granted a lifelong lease, but he's abandoning it. One son is facing prison and the other lives in PA. Sounds like a situation where some ready cash might trump their desire to eke every last dollar out of it. And from what I understand, the realtor on my estate property has a potential bidding war on her hands.

Not sure what I'll do - take on renters, sell it back to like-minded cooperative individuals, have an orchard - but always good to increase the footprint of isolation if nothing else - probably gate off the whole road down there (private road).

Wish me luck!
A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

RWS

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Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #1 on: September 22, 2018, 08:24:37 PM »
Yes,  Good Luck with that.  It always helps to own next door.

aces

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #2 on: September 22, 2018, 09:48:21 PM »
Absolutely.  May the bidding war ensue  ;)

YellowRose

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #3 on: September 23, 2018, 01:20:54 AM »
Good luck. 

BennyMG1

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #4 on: September 23, 2018, 08:40:16 AM »
Sounds like a lot of irons in the fire. Son going to prison might see it as “all I’ve got” and the son in PA might think it’s worth much more than it actually is. I’ve seen it happen around here. Someone passes and leaves their property to a relative in some far off state. That relative decides to sell the property but starts off asking what the property would be worth where they live. Takes forever for them to realize. It just happened a few months ago down the street. Family several states over had owned the house for several years and the house sat vacant. When they could finally agree together to sell they were asking something like $120,000. The house needed a LOT of work.....beautiful old house...ended up selling for less than $40,000.
Trust, but verify. Russian proverb

Lilburner

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #5 on: September 23, 2018, 11:56:25 AM »
It could go a lot of different ways. I'm hoping it works out.

I'm not sure where in the process of "going to prison" the one son is. He might be disqualified from indigent legal aid by owning half a house. He might need 20-30 years of commissary.

WORST case is that prison son avoids prison and moves in rent free, with absent son paying the taxes, leaving his only expenses to be food and drugs.

I'm hoping for the best.
A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

SS-Preppers

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #6 on: September 23, 2018, 07:37:42 PM »
Best of luck......the best neighbors are no neighbors......

Nemo

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #7 on: September 29, 2018, 02:49:27 PM »
Gate it off but keep the key handy.  So the Spring/Fall thing can turn into half dozen from March to Nov.

Nemo
If you need a second magazine, its time to call in air support.

Came into this world screaming, kicking and covered in someone else's blood.  Don't mind going out that way.

God made Man, Colt made him equal, Browning made that perfection, Gaston Glock turned perfection to plastic fantastic junk

John Galt 1

Re: Might have an opportunity. Help keep your fingers crossed.
« Reply #8 on: September 30, 2018, 10:14:42 PM »
Figure how much cash you need to retire times 2.      If there is enough extra after that then buy one or both of the properties.

Where we're at a lot of Mc' Mansions    (big ugly houses on 2-5 acre lots) and warehouses going in within 10 miles.     I could buy more land but then my retirement funds would go to nothing so I'm praying my little corner will be left rural... doubtful but I'm hoping.
Talk is cheap, Actions count.

 

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