Here is some background information. I had bought 25 acres in Harris County in 2003 with the intent to retire and build a house in the middle of the property. Plans changed...I moved to Harris County and started a real estate career. I decided to sale the land. I paid $75,000 for the land I sold a portion in 2006 and the balance in 2007. Total sales price was $262,500 excluding some survey cost and closing cost.
Now the rest of the story..... I was working with a client a couple of years ago looking for some replacement property in a 1031 tax-deferred exchange. He looked at me and ask 'Do you own any land?' I said no. I had been looking passively. I decided it was time to get on the ball. Soon after, I purchased 52 acres of timberland and recreational property in Johnson County. I just negotiated a 'timber contract' for the first thinning.
Realtors like myself are always telling folks what a wonderful investment LAND is. If you really believe in the product you are trying to sale, then you will personally invest in that product. Next time you are with your Realtor, Ask them if they own any LAND?
For Information on Buying or Selling Land contact G. Kent Morris, ALC, RF at (706) 457-0090