I recently
participated in a LandThink survey. LandThink brings together the various
components of the land industry and provides land investing knowledge, ideas
and networking opportunities to land professionals and investors to create a
stronger land marketplace.
The survey question ask….. “Would you prefer to own a
large tract of land with a partner or a small tract without a partner”? Here are the results…
Overwhelmingly
the majority of the respondents (76.37%) answered they would prefer to own a tract without a
partner. Although there are some advantages to having a partner i.e. leverage
larger purchases, the disadvantages outweigh the benefits. Case in point, I was
recently contacted by a landowner who owns over 200 acres with a partner. The
landowner was over 70 years of age and is simply not using the property any
longer and he is tired of paying taxes. He and the partner have owned the property
for over 20 years. They bought the property for recreational purposes and the
entire family has enjoyed using the property but no longer, the kids are grown
and gone. When he contacted the partner, he said he was not ready to sell. Typically
the differences involve: 1) different strategies and goals and 2) time horizons
differ among owners.
IF
YOU GOING TO BUY A TRACT OF LAND…”BUY IT YOURSELF”!
If
you want to see my listings, visit AllSouthLandandHomes.com. If you have
questions buying or selling LAND, contact G. Kent Morris, ALC, RF at
706.457.0090
