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Real Estate Home
Preface
01. How It Started
02. First Buys
03. First Boners
04. Facts of Life
05. Dead Wood
06. Best Buy
07. Check First
08. Check Second
09. Unheated Properties
10. Time is Now
11. Still Good Buys?
12. Good Buys
13. Value Formula
14. Applied
15. The Net
16. Before Offer
17. Framing Offer
18. The Offer
19. After Acceptance
20. After Taking Title
21. Straightening Tenancies
22. New Tenants
23. Hold the Property
24. Tax Benefits
25. Sell Them
26. Tax Angles
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5 Things You Must Know About Buying Land
There is something about buying land that holds and captivates the American imagination. Ever since the pioneers, everyone has contemplated buying farmland at one point or another. Some of the most improbable people – city dwellers who have never even considered moving out to the suburbs before – sometimes buy rural land and pack it off to Virginia or Wyoming. Some of them buy land and build, but others seem to just buy it to own it. That land is their guarantee of a little piece of the American dream.
I first started thinking about buying land when I was about 10 years old. At that point, we were driving through Montana and looking at the farms. It was nice and clear out there – cold, but clean. The people there were nice, the countryside was gorgeous, and even where there were grazing livestock, it seemed to smell nice. The skies were some of the most beautiful that I had ever seen, and all in all I was in love with that state.
Although I didn't really know anything about buying land at the time, I decided that one day I would buy a farm in Montana and raise crops or cattle. My dad encouraged me and my daydream. He was always really encouraging about things like that. He wanted us to live our dreams, and buying land Montana was mine. Nonetheless, he knew how hard it would be. Even in remote locations like Montana, buying land is harder and harder nowadays. With real estate developers moving into previously uninhabited areas, buying and selling real estate – even in the heart of farm country – has become a cutthroat business. If you are into buying and selling land but don't have the financial resources, you had better have a keen eye.
Nonetheless, I was able to buy cheap land about 80 miles outside of Billings, Montana. It wasn't premium lands – it was a little but rocky, and it was far away from everyone. Still, there was enough there to make a living out of the soil. When I got there, I was as giddy as a little kid. I had dreamed about buying land for so long that I was completely unprepared to find it had become a reality. Getting that land ready to live on has been a bit of a challenge at times, but I am glad that I decided to try it out.
