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Units/Shares/% ownership in established recreational land
Posted on 10/29/14 at 8:39 am
Posted on 10/29/14 at 8:39 am
Anybody have experience with this?
I tend to cruise the rural real estate websites and often come across listings for 200 Units, 25%, etc. of a tract of land that usually has a deeded camp and a deeded portion of the acreage.
Anyone ever put together a group to create one of these from scratch, buying a "new" tract?
I'm sure a lot of info is tract specific, but just looking for some general stuff anyone may have run across in these types of deals.
I tend to cruise the rural real estate websites and often come across listings for 200 Units, 25%, etc. of a tract of land that usually has a deeded camp and a deeded portion of the acreage.
Anyone ever put together a group to create one of these from scratch, buying a "new" tract?
I'm sure a lot of info is tract specific, but just looking for some general stuff anyone may have run across in these types of deals.
4
Posted on 10/29/14 at 8:42 am to DirtyMikeandtheBoys
Paging choirboy...
Posted on 10/29/14 at 8:45 am to DirtyMikeandtheBoys
Getting into something like that could become a very big problem.
What you are buying into is a share of X track on land. problem there is, what part of X track you own? The other owners will run the place. The only way would be to have the complete place surveyed to be able to cut your share out of said X track. That can cost a shite load.
What you are buying into is a share of X track on land. problem there is, what part of X track you own? The other owners will run the place. The only way would be to have the complete place surveyed to be able to cut your share out of said X track. That can cost a shite load.
Posted on 10/29/14 at 8:53 am to DirtyMikeandtheBoys
I joined a similar concept a few years ago after landing in Florida. Several hundred acres and you bought in very inexpensively ($8,500) and were given what amounts to a campsite and year around access to hunt/fish. Annual dues were only a few hundred bucks. Worked out great early on as the property was loaded with game and there were relatively few members.
Fast forward two years and things changed. Some folks literally resided on their campsite. Trash and theft became an issue. Hunting was no longer the focus and instead mud bogging and ATV riding were the focus. Forget sitting in a stand, you couldn't go more than 20 minutes without an ATV passing by a 50 yards. The pristine woods I bought into were trashed in no time. Those few hunting areas left unmolested were claimed by senior members so it felt like being the new guy at a hunting club.
I sold my stake off for a loss just to get the hell out of there.
Fast forward two years and things changed. Some folks literally resided on their campsite. Trash and theft became an issue. Hunting was no longer the focus and instead mud bogging and ATV riding were the focus. Forget sitting in a stand, you couldn't go more than 20 minutes without an ATV passing by a 50 yards. The pristine woods I bought into were trashed in no time. Those few hunting areas left unmolested were claimed by senior members so it felt like being the new guy at a hunting club.
I sold my stake off for a loss just to get the hell out of there.
This post was edited on 10/29/14 at 8:56 am
Posted on 10/29/14 at 9:03 am to wiltznucs
Yeah, the stuff I see is like 1100-2500 acre cuts with established owners/camps.
btw $150-$250k, most are below 12 owners.
I just figure it could turn to hell pretty quick if the board goes to shite.
And I imagine selling out is pretty damn hard
btw $150-$250k, most are below 12 owners.
I just figure it could turn to hell pretty quick if the board goes to shite.
And I imagine selling out is pretty damn hard
Posted on 10/29/14 at 10:06 am to DirtyMikeandtheBoys
I have a friend who just set up one and they spent a lot on lawyers writing the regulations/rules.
You got a deeded lot/camp, I think one or two designated private stands, and then they have like 20-30 open stands, first come first serve doled out morning of at a tag board. It's a big club, but they only sold like 40 memberships or so.
The "camps" there are nicer than my house.
You got a deeded lot/camp, I think one or two designated private stands, and then they have like 20-30 open stands, first come first serve doled out morning of at a tag board. It's a big club, but they only sold like 40 memberships or so.
The "camps" there are nicer than my house.
Posted on 10/29/14 at 10:22 am to eng08
quote:
The "camps" there are nicer than my house.
I didn't deal with this as the camp structures were not allowed to be "permanent". That said, when a guy rolls up in a 30ft Airstream he can be quite comfortable!
Posted on 10/29/14 at 11:19 am to DirtyMikeandtheBoys
sounds a lot like a condo regime
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