How many of you here own your own land and how much do you own?

[hoythunter02]

I've been looking at land for a while, nothing big but prefer around 25-50 acres. I still have a house note and just paid off my truck. My wife and I have a few small bills together but no major debt IMO. I went through a divorce before I met the woman of my dreams and everything is just great. She's my best bud.

I've been talking with her about us buying a rec piece of land to hunt, dove hunt and put a comfortable cabin on. I may be getting ahead of myself. But I know a lot of you guys here own land and some ranches. I've been rebuilding my credit for the last 3 years and its getting better. The particular 20 acres I'm yalkii about he will owner Finance on 15 yr note and payment would be much less than the truck payment I just paid off and no longer have.

How did yall obtain your land/Ranch? Financing, given to you from family, family land, owner Finance?

I've seen some great builds and small ranches succeed on TBH and I want my family for now and in the future with our girls to enjoy this for a life time. I would even quit leasing to help make this happen.

What say the GS? Thanks!

[1RutNBuc]

Sounds like you've got it figured out! As for me and mine, I own nothing, but will inherit a lot. I'm also always looking for that little slice of heaven that I can take the pride of purchasing and improving myself. Same size that you are looking for, problem is at 10k/acre in my county, it is going to take a little longer and the inlaws don't mind me hunting! I married well!!!!!b

[Osceola]

I Bought 100 acres from my grandparents when they retired from farming.I financed it for 30 years to get the payments low in case I ran in to hard times but we were able to pay it off in 15.There is nothing like the feeling of owning land.

[hoythunter02]

I Bought 100 acres from my grandparents when they retired from farming.I financed it for 30 years to get the payments low in case I ran in to hard times but we were able to pay it off in 15.There is nothing like the feeling of owning land.

That is great. Paid off in half the time.

[Cooter]

My parents purchased 47 acres in Anderson county back in '92 while I was in high school. When my mom got sick they ran into financial issues and put it up for sale, but couldn't get it sold.
My wife and I bought it from them in 2003. We financed it through Texas Land Bank in Palestine on a 25 year note. The payments are a lot lower than a truck payment, and we were very happy with our dealings with Texas Land Bank. The appraised value is over 3x's what I paid for it and we will pay the note off well before 25 years. Our plan is to sell it after my dad passes (hopefully not for a long time) and buy approx. 100-150 acres in the hill country.

[hoythunter02]

My parents purchased 47 acres in Anderson county back in '92 while I was in high school. When my mom got sick they ran into financial issues and put it up for sale, but couldn't get it sold.
My wife and I bought it from them in 2003. We financed it through Texas Land Bank in Palestine on a 25 year note. The payments are a lot lower than a truck payment, and we were very happy with our dealings with Texas Land Bank. The appraised value is over 3x's what I paid for it and we will pay the note off well before 25 years. Our plan is to sell it after my dad passes (hopefully not for a long time) and buy approx. 100-150 acres in the hill country.

That sounds like an excellent plan. Nice y'all were able to buy it from them.

[Cooter]

We are glad we were able to do it. Mom passed in '07, but my dad has a place for the rest of his life. It also solved the problem of passing it down. I have 3 other siblings and my parents were concerned of dividing it. My 2 oldest siblings never lived there, so they really never had ties to the land. because of that, I wouldn't have blamed them if they would have wanted to sell their parts. This made it easy. When & if I decide to sell, I will offer to sell it my other brother (who did live there) 1st to keep it in the family.

[jooger17]

Checking in, 1.54 acres here

[Chew]

I think I'm gonna try to use the texas veterans land board. Weren't you in the coast guard?

They will finance up to $100K and you only need 5 percent down vs. 20% with a regular lender.

http://www.glo.texas.gov/vlb/

[cwill]

5.48 acres here and man do I wish I had more. I'm not sure when it will happen, but it is certainly a goal of ours.

[rjbowmaster]

3acs. we live on in south Bexar co. and 67acs. in Edwards co. we are buying for family hunting....we are getting some good pics

[Ballcoach10]

I want. Land sooooo bad!!! Student loans kill me graduating from Mary Hardin Baylor. Don't know if it will ever be a reality for me unless I get outa coaching

[DaveC]

I think I'm gonna try to use the texas veterans land board. Weren't you in the coast guard?

They will finance up to $100K and you only need 5 percent down vs. 20% with a regular lender.

http://www.glo.texas.gov/vlb/

This is my plan for now as well.

I just wish I'd have bit the bullet 11 years ago when I was in a place financially to do it but let the what if's get in the way.


Chew,
We need to find two $100k tracts side by side so we know we'll have at least one decent neighbor.

I just need to quit buying smaller stupid stuff while wanting land.

[Atfulldraw]

just 10, and paid cash, but I'm already saving for the next chunk.....

I know I'll get blasted, but if you have to borrow money to buy the raw land and you have a mortgage and maybe a future car note or other debt, it is unlikely you will ever be able to pay for the improvements that you want....

water well, power, septic, tanks, houses, barns, equipment......the list goes on and on.

the only way I would ever buy a second piece of property is to have everything else paid off and completed, and that means no mortgage or any other debt.

[DaveC]

Atfulldraw, advice taken.
As long as life doesn't throw a curve ball , I'm ~4 years away from that very thing.
House, trailer, truck- all paid off at near the same time.