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re: Will Premos place for sale. Any OB investors jumping on this?
Posted on 7/24/15 at 4:00 pm to FelicianaTigerfan
Posted on 7/24/15 at 4:00 pm to FelicianaTigerfan
I keep tabs on rural land sales/development and I've heard some rumors that he's asking around 16 mill, which would put asking price around $5600 or so an acre. Now, let me go ahead and say that thats not verified, but I've heard from some credible sources. That price seems extremely high, but with the number of improvements (trophy deer management, water wells/pumps, crop irrigation and micro-leveled ag fields, deer stands, duck blinds, all weather road system, luxury lodge, boat launch, managers home, etc etc etc) I can understand why its so high. I would assume hes also going to include alot of the equipment (tractors, implements, boats, atcs, etc.) and furnishings in the lodge (furniture, mounts, etc.) as well. That stuff can add up fast, and since this is basically a "turn-key property" (meaning you could show up right now and be ready to live/hunt without any work or improvement) that also adds a huge cost. You'd be surprised how much more a wealthy person will spend on property where he doesn't have to do anything vs. a place that he has to improve (build roads, build lodge, etc.). The base value for land might be around 3,000 an acre (thats about average for land with high timber value or agricultural value) but I gurantee with everything added in its going to sell for much higher than that.
Posted on 7/24/15 at 4:21 pm to TheBowhunter
quote:
You'd be surprised how much more a wealthy person will spend on property where he doesn't have to do anything vs. a place that he has to improve (build roads, build lodge, etc.)
I guess that's rich people thinking because id much rather build a place up myself.
I did see where the property generates over 100k in revenue a year so at least you're getting some financial return
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