Buying land out west

[JohnnyBudZ]

Alright so, My father owns 5.5 acres out in NM. He aquired this land for $1400 back in 1990. He claims its a great einvestment due to the rising population of New Mexico.

So I was thinking, my dad also knows a man looking to get rid of more acres for the price of 4500 ( 4 acres ). Possibly I could go to school for real estate development? Then design a whole community out there in the next few decades?


Does anyone think this could be worth it?

)Im just looking for inputs)

[Gaulkin]

Real estate development will always be a huge money maker, however you should think of better places to develop such as Miami, New York, California.

[JohnnyBudZ]

Nahh man, my dad and my uncle (mostly my uncle) have owned the biggest garbage empire in North Jersey. Im done with this area, plus its to large of an investment.

I was thinking about buying acres out there then actualy developing my own construction company with the help of My OTHER uncle out in New Mexico. The land is practically dead. There is NOTHING out there, so i figure this may be a chance to be like my father and uncle and get my name huge some where else? Put it this way, If I built up a town over time, Then I could give the oppourtunity to family members on continuing the garbage legacy?... no?

[Gaulkin]

Ive been to those places your talking about and there dead for a reason. Concentrate your business on areas that need to be developed because people are flocking there.

[JohnnyBudZ]

There dead becuase no one has built anything!...

Idn something tells me there is HUGE money to be made out in the west, but idn ..... I did ask for your input, so thank you.

[Aletheides]

Study real estate and real estate development, by the time you're done you'll have a trained eye to know if it's a good decision or not.

IMO your best places to develop are where people already are. You can't expect to build a bunch of buildings in the middle of nowhere and expect people to move in just because there are buildings there.

[rogercbryan]

Wise man once say... "The only thing they are not making any more of is land". I have no experience in development but if the numbers look good and you can invest for the long term I would buy any land you could reasonably afford to buy.

[JohnnyBudZ]

Wise man once say... "The only thing they are not making any more of is land". I have no experience in development but if the numbers look good and you can invest for the long term I would buy any land you could reasonably afford to buy.

I like that quote, thank you.

[ya0505]

what are the value of the land now? I heard that the value changes slowly but it does increase.

[Lambo]

Just gotta be carefull on costs

[Aletheides]

The only problem with investing in raw land is its for the most part speculative and costs money to hold. If you buy make sure its in a growing area, or you could end up holding to a piece of land which doesn't rise in value over time yet comes with holding costs.

[JohnnyBudZ]

The only problem with investing in raw land is its for the most part speculative and costs money to hold. If you buy make sure its in a growing area, or you could end up holding to a piece of land which doesn't rise in value over time yet comes with holding costs.

haha nah, the taxes are $14 a year. The price of holding it is not an issue.

[malumu200]

Hey Vegas was a barren land once to. In my opinion a good way to do some research is read up on places like Vegas that was barren and what it took to turn it to what it is today.

[JohnnyBudZ]

Yeah thats a great point, I was just looking for an input of whether or not a contracting or land development career seemed like a good idea.

Thanks for your inputs!

[Wowzerz]

Real estate development will always be a huge money maker, however you should think of better places to develop such as Miami, New York, California.

Wow...You're an idiot. Talk about bad advice...

"Hey...only invest in real estate where the markets have completely gone to shit because of insane speculation during the last 5 years. Buy high, sell low, that's my motto"

You really, really don't know shit about real estate. Do you read the papers? Watch the news? Ever heard of Vallejo California?

Maybe Dale King was right in leaving this forum. It's almost scary the kind of advice that gets tossed around.