Is buying land in flyover states a good financial decision? Seems like land there doesn't appreciate as much as desirable places
 Shopping Cart Returner Shirt $21.68 |
 Ape Out Shirt $21.68 |
Shopping Cart Returner Shirt $21.68 |
Is buying land in flyover states a good financial decision?
If you like bagholding sure
think about it. theres so much land in the continental US. why would the average plot appreciate? land has to have a reason to appreciate and generally it happens because the market at large sees the value in it. lots of land in the US is forest or plains or desert thats just chillin. why would it appreciate much? Los Angeles land has 10x'd, why would rural bumfrick land in Missouri go up that much?
yes you can develop it, but undeveloped land doesnt randomly 10x in value unless there's a surge in perceived value (discovery of a new hidden resource)
A lot of the land is shit land in Arizona, socal, New Mexico, west/south Texas, and southern Colorado
no
Why?
Flyovers are full, sorry.
Not they aren't
>buying land in flyover states
they give it away for free if you build a house on it
Yeah but building a house can have a million hurdles depending on the state
It's Kansas. They don't even have contractors licenses.
No man, why would I buy land in bumfrick, Oklahoma when there are 10000 places in the middle of nowhere that are the exact same?
If you want land that'll appreciate, buy a house on a crowded island.
you shut the frick up and i'll get you all the coffee and bagels you want. I know where we are.
People here are shitting on you but nobody thought that homes in Idaho or Montana would be $500k
How's Wyoming?
Very expensive
Damn really? Sad
That's where the ultra rich buy those $20 mil Cabins and hundreds of acres of land
not a great place to live
Only if you want to actually live on it. Unless it's appreciating or generating income, land is a liability.
just like in blocklords, if you have lands, you will control a lot of money, just look at the titans of real estate, the basically own your house
The general pattern I'd suggest is to look at area of rapid real estate price appreciation, then go a few miles out and see where the prices fall off a cliff. That's usually, but not always, where you can find interesting opportunities.
That usually means you'd target urban areas, but you might be able to find smaller population centers in bumfrick americana that exhibit similar characteristics.
frick off we’re full
No you aren't
There is a place in the definition of flyover country that I really want to redevelop into a tourist destination. I don't want to say where, but it has all the makings of a great tourist destination and land there is incredibly cheap.
I'll greentext
>beautiful scenery
>middle of nowhere
>some interesting geographic oddities that make it more attractive (exteme western edge of a time zone, which means it stays light out until 11pm in the summer)
>former factory/manufacturing/mining town that has declined drastically in recent years
>tourism to this town is starting to grow, but at the moment still an incredibly small market
>family ties to this place
>beautiful mountains just 10-20 mins west
>great fishing/hunting/hiking in nearby area
this is where it gets interesting
>local paper mill closed in 2010
>72 acre site was fully razed, nothing remains on said site
>"town center" sits right across the river from this site, formerly connected by a bridge that's been replaced
>site is zoned for any kind of new use, and local government is desperately trying to get a developer to purchase the site for redevelopment
>they'll absolutely work with someone to build something here
>town/county's population seems to have hit a bottom in 2020 and has steadily increased since then
I feel like the bottom is in for this shitty little town and it's only up from here. I'll explain further in a sec
Good luck anon
> "I'll explain further in a sec"
> fails to elaborate
Based move
Same anon from earlier, have been working a lot today.
Anyway - there's a greenfield site located directly across the river from the "town" (or what's left of it) on the site of a former paper mill. From what I can tell, remediation has already been completed by local/state govt and the site is ready to be built on.
This seems like a really good spot for a resort or planned community of some kind. You could reconnect where the old bridge crossed for pedestrian access to the town center, build condos/vacation homes, etc.
It's about a 3 hour drive to any kind of civilization, but it's already a pretty popular area for hiking/fishing/camping/hunting in the summer and snowmobiling in the winter.
Pretty interesting opportunity that I may take up if no one jumps on it until I exit this bull market in 2025.
Put the IQfy citadel there
> "I don't want to say where"
> posts map of actual location.
Okay then.
You'd probably need to raise capital for this.
3.6M to buy the land is just the beginning. Redevelopment of the area is almost certainly going to cost multiples of that.
The river looks gross and any fish there is likely unsafe to eat.
I'd cynically expect that the industries that were once there took all kind of money-saving shortcuts in the past, resulting in god knows what kind of soil contamination will need to be remediated before anything useful can happen.
What little tourism the town was counting on failed to materialize this winter when the weather didn't cooperate. More small businesses will die. With the growing understanding that unusual weather patterns will become the norm, even business owners that could still try to ride it out a few more years will decide to give it up while there's still ahead.
This town doesn't need a star-eyed investor, it needs a miracle.
>> "I don't want to say where"
>> posts map of actual location.
Lol yeah I figured I might as well, no one has the capital or, likely, the interest to develop a resort in northern michigan.
But yes - you're absolutely right on all points. It does have a few things going for it though.
>porcupine mountains
>lake of the clouds
>millions of acres of virgin forest
etc etc.
The river is that nasty brown because of the high copper content of the soil (so I'm told), not from runoff or anything. So, that's a plus I guess.
I mean it looks like regular silt/farm runoff, and frankly it doesn't take a shitload of capital to do a water quality/ soil test in the grand scheme of things $5,000-10,000 to get some sampling project set up and run for 6 months I think. At least it'd let you know if it was even viable. If there's deer there, and hunting wouldn't be an issue, then certainly deer camp in the fall would pull some dollars.