Buying land...

[MemphisStockBroker]

Gentlemen, it is time for me to take the plunge. I am interested in buying some land, as an investment and some place to go when my wife gets mad at me... Northern half of Mississippi. Would prefer in timber - not necessarily duck land. I would really rather not go through a land broker... any ideas on the best way to locate tracts available? Maybe a foreclosure through a bank?

[Insider]

I always thought I would get rich over night in the "Market". As a freshmen in collage I invested my first $1,000 in the market. My daddy always preached to me to buy land, because you can stand on it and do with it as you want. He said if you didn't own 51% of a company's stock you didn't actually own anything. Well, after taking three years to recoupe by intial investment I thought he might be right, but the 90's were on us and my stock kept climbing. By 2000, ole dad started second guessing his self and wondering if his money might be better in the market. He held true to his investment strategy and kept it in land. Me, I kept investing in the market. July 1, 2002, my dad tells me everyday, "I told you so". I've been able to invest in a few pieces of land the last couple of years with my first deal not being just great but OK. It was a sealed bid; I was high bidder, but I left several thousand on the table. I might have over paid on that piece of property, but it is still there today holding the world together, where as that WorldCom stock I bought........... As Paul Harvey says,"Now, you know the rest of the story".

If only I would have known my dad is not as dumb as I thought he was.

[timberjack]

I've bought many tracts over the years and sold just as many and in my opinion going through a broker (to buy) is a waste of time unless you have money to burn and you're in a hurry. If you've got some time and really want the best deal just spread the word and something will eventually come along. I will say however that the days of a sure enough steal are probably gone as most folks have taken the time to educate themselves about the price of land. Sealed bid land and timber sales are another option but these tracts usually bring a premium price and even if you bid at a bargain price and were the high bidder most times the bids will get rejected. Again, the best way to find yourself some property is to talk to people you already know. You will be surprised when they tell you about ole' whatshisname who has 200 acres he's thinking about selling. That's how I've bought most of mine. In the central part of the state where I operate the going price for cutover timberland with raod frontage is anywhere from $500-800/acre. Be prepared to pay more for land with merchantable timber on it or pine plantation. It gets real expensive real fast. I know of a few tracts for sale in this area now if you're interested, one is $625 and the other is $675. Good luck and send me a PM if I can help.