re: What do you think about this New Mexico property?

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That's why they are expensive though, you realize that right? That website is solely to find wealthy buyers looking to overpay for recreational properties, if you want to find good prices properties you don't look for listings by websites like that. Seriously.

My recommendation is you are on the wrong state forum for good info. Larger tracts are almost always less per acre unless you have something special or a certain niche property. There's fewer buyers the higher the acreage and more money for one.

You really need some local advice. With $4 mil to spend, you can easily find somewhere out west with a great school zone. Jackson Hole off the top of my head has a great school, you could buy a great house for $2 mil there and a great ranch for $2 mil and have millions of acres of access. I'm sure there are tons more places, not to mention private schools which anyone buying a $4 mil ranch could afford.

Who is going to take care of your horses while you aren't living there? Seems like you have a lot of huge questions to figure out before starting to really look.

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I live in a great school zone now (and don't yet have any children) so I can use the property as a summer and holiday getaway place. A ranch that borders public property has its benefits, but it can also have some drawbacks. I am looking for as much privacy as possible.

I have family members who have out of state properties, so I'm familiar with caretakers, managers, etc. I've been scouting for quite a while, and a couple of properties that I really liked sold (Strawberry Creek Ranch in Montana being one). It is good advice to get a local realtor rather than one of the big sites. Thanks.

I have to be patient - I will find the right place eventually.