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re: Buying farm land/acreage - Need some tips and tricks
Posted on 4/8/20 at 4:13 pm to GregYoureMyBoyBlue
Posted on 4/8/20 at 4:13 pm to GregYoureMyBoyBlue
quote:
What are the best books, sites, learning(s), that I can find to educate myself on the prospects of acquiring land
It’s like any other property in this respect. Find out who owns the land and cold call them if you have a particular piece in mind. If you’re just looking for deals pick your advertising medium.
quote:
Are there a list of best practices when speaking with the seller's about their property to better differentiate parcel A from parcel B
I might ask about any easements or historical activity, but honestly you should do your own research. The main thing you want to know from the owner is price. They might try to hide/mislead/forget about any blemishes the place has in an effort to make a deal.
quote:
What are the biggest mistakes people fall into when buying and investing in farmland/non-residential or commercial real estate.
Too many to list here but for starters: have it surveyed, check the zoning, ask about easements/commitments/restrictions, and most importantly don’t fall in love with any piece. Seriously. It takes away any leverage you might have had previously.
In all honesty you should probably read the car buying guide someone put out on the Money Board. It’s not all applicable but a lot is.
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