Posted by M Nut on September 04, 2010 at 19:14:13 from (170.215.41.203):
Anybody have a crystal ball that predicts what land values will do in the future? My neighbor offered me his 40 acre parcel that borders/adjoins my 80 acres across the road from the home farm. It is about 10 acres open field, 10 acres pasture land, 10 acres heavy wooded, and 10 acres of swamp. It has a drilled well and new septic system in the past 5 years, a 24x28 garage with a poured floor about 4 years ago, and a two bedroom mobile home in decent condition. Spent about $4,000 on installing a driveway in 2002. I know he paid $40,000 for the land alone in 2000, and then added the rest over the next few years. He offered it to me for $85,000. Just trying to decide what to do, as I have no use for the house at all, and really don' t need the garage or the septic. This is located in EC MN, with pretty good hunting and many lakes nearby, close to Mille Lacs too. Think I should borrow the money and do it, or let it go to someone else? I'm pretty sure I can pay for it in about a 10 year time span. Just little nervous about new neighbors. Can be good or bad.
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