Posted by M Nut on January 02, 2012 at 13:51:23 from (50.107.36.118):
Wife and I are at the point where we have some money to work with and invest. We are both employed and are secure in our jobs. Through our jobs we have the retirement plans the employers offer to each of us and match, as well as our own private retirement account too. We are now considering purchasing some land as an investment. It is 35 acres of land, with 30 acres tillable and 5 acres of woods. No low land to speak of. Tillable land is all planted into hay right now. It has highway frontage on two sides. I'm thinking land is at about it's lowest value right now, and that it should start to climb in the not too distant future. I'm thinking I could buy this piece for about $30,000. Current owner is ready to retire from farming and is eager to sell. I've been approved for the financing I'd need to cover what I don't have in cash, and figure I can have it paid off in 5 years. Is there any reason why this would not be a good investment? Having never purchased land before other than from my grandmother, this is a new game for me to play. Thanks for any advice.
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