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- May 11, 2015
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One of the big problems is absentee ownership. Have rented two quarters for 30 years. She doesn't want tree rows. I do. Nothing can be done about it.
The neighboring two quarters of that section had several tree rows but they were old and dying. They tore them all out. The wildlife population has tanked. So I talked to my landlord about trees again and she said the wildlife can go to so-and-so yard about a mile away. Wildlife was not high on her priorities.
Recently she died. In her Will she left me first option to buy at appraised value. She was an only child with no heirs. Her cousins never visited her. She left her assets to churches etc. I have no problem with that. She befriended a slightly different couple and made them administrators of her will.
Now we have a problem. They think the land is worth almost twice as much as it is and the appraisal company they hired thinks so too.
They cherry picked all the highest prices they could find such as bidding against a coal mine.
My first option to buy isn't an option at all. So it will go on the auction block. Hopefully I can buy it. But here is the deal guys. Think about this seriously. Every improvement (monetary or sweat equity) that I put into that land for 30 years will cost me a second time in the final purchase.
Therefore, it is unwise to build a fence, plant trees rows, habitats, or develop water on rented ground. If you are looking at a piece of ground with zero habitat and farmed fence row to fence row, there is a very good chance it is rented property.
The neighboring two quarters of that section had several tree rows but they were old and dying. They tore them all out. The wildlife population has tanked. So I talked to my landlord about trees again and she said the wildlife can go to so-and-so yard about a mile away. Wildlife was not high on her priorities.
Recently she died. In her Will she left me first option to buy at appraised value. She was an only child with no heirs. Her cousins never visited her. She left her assets to churches etc. I have no problem with that. She befriended a slightly different couple and made them administrators of her will.
Now we have a problem. They think the land is worth almost twice as much as it is and the appraisal company they hired thinks so too.
They cherry picked all the highest prices they could find such as bidding against a coal mine.
My first option to buy isn't an option at all. So it will go on the auction block. Hopefully I can buy it. But here is the deal guys. Think about this seriously. Every improvement (monetary or sweat equity) that I put into that land for 30 years will cost me a second time in the final purchase.
Therefore, it is unwise to build a fence, plant trees rows, habitats, or develop water on rented ground. If you are looking at a piece of ground with zero habitat and farmed fence row to fence row, there is a very good chance it is rented property.