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

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Patience is definitely key in real estate. One rash decision can be regretted for decades if you're not careful.

Are you expecting this property to pay for itself in any way? Selling the timber? Running cattle? Because if not I'd just buy a small plot in the deep woods somewhere for a hundredth of that price and build on it if I wanted a place to get away to.

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No, I do not need the property to pay for itself - though I don't want a bunch of recurring expenses either. I'm looking, at this point, for a getaway that could someday be a retirement place. I would never sell timber. I would also prefer a place with no conservation easement - though I'm pretty sure I'll put one on it.

If I ever build, I want a well constructed and designed house, but not a big one.

It is surprisingly difficult to find the combination of terrain, altitude, and live water.