Saving to purchase land

[SaintBlaise]

I’m 35, My wife and I own three separate properties. One is paid off and the two others will be paid off when I’m 40. We’ll double our money on two and might triple our money on the third. When it’s time, our goal is to sell all three and buy a ranch. We bought them cheap, fixed the homes up and we now rent (airb&b) them out. We’ve never paid the house note in Galveston from our paychecks. We both work full time at our jobs. IMO buy property, keep buying and selling real estate until you reach your goal. I was 25 when I started buying property, it’s fun, pays very well if you’re careful on how you spend. Good luck!

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Ostey makes a great path to follow. Owning and managing real estate is not always easy, so start young and small. I've been looking to buy a ranch in Texas for years, but really only in my dreams. The prices continue to go up, so I think they are recession proof. Now you have the Realators buying ranches and selling them in ranchetts. The big ranchers don't like seeing the ranchetts, so they will keep their selling prices high IMO.

So, my take away is to look way down the road. Ozona, Del Rio, Dryden...it's far out, but it's the only deal in town.

[Bear82]

I would keep making investment into 401k or stocks until you can afford a property. When you are 50 those stocks will probably make more money than land. If you are wanting to live off the land making you money in retirement you are going to need a really big piece of property.
If you are wanting to make money off properties then you need to pay off asap, pay cash or sell and make money to get profit. The more interest you pay, the less you actually make or save.

[camoclad]

Buy a bunch of bit coin 5 years ago