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<blockquote data-quote="backhoeboogie" data-source="post: 452411" data-attributes="member: 3162"><p>In '78 I went to look at lake lots here on the local lake. Got a free ceiling fan for going. $4,500 for a half acre on the lake. That seemed rediculous. Why didn't I buy ten lots? </p><p></p><p>In '94 I bought 8 acres across the road from me for less than $10K. No improvements on it. Not even a fence. I quarried 365 tons of limestone off of it, hauling it out 5 tons at a time. You can fill that little dump trailer with top soil for $12. I'd haul a 5 ton load and sell it $225 wholesale and spend $12 on the return trip. We pulled out cedar poles as long as 35 feet and up to 2 foot diameter, arrow straight. Lots of fence posts less than 20 foot long. In '99 the county had it on the tax roles appraised at $45,000 and me paying $1400 a yeat in taxes. I dumped the property AND DIDN'T RETAIN MINERAL RIGHTS!!! The the mineral rights would sell for over $100K if I had retained them. It would lease for $2500 an acre and 25% royalty. </p><p></p><p>As of right now, it is good to have bought what I did when I was 20 years old, and to have retained what I retained.</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 452411, member: 3162"] In '78 I went to look at lake lots here on the local lake. Got a free ceiling fan for going. $4,500 for a half acre on the lake. That seemed rediculous. Why didn't I buy ten lots? In '94 I bought 8 acres across the road from me for less than $10K. No improvements on it. Not even a fence. I quarried 365 tons of limestone off of it, hauling it out 5 tons at a time. You can fill that little dump trailer with top soil for $12. I'd haul a 5 ton load and sell it $225 wholesale and spend $12 on the return trip. We pulled out cedar poles as long as 35 feet and up to 2 foot diameter, arrow straight. Lots of fence posts less than 20 foot long. In '99 the county had it on the tax roles appraised at $45,000 and me paying $1400 a yeat in taxes. I dumped the property AND DIDN'T RETAIN MINERAL RIGHTS!!! The the mineral rights would sell for over $100K if I had retained them. It would lease for $2500 an acre and 25% royalty. As of right now, it is good to have bought what I did when I was 20 years old, and to have retained what I retained. [/QUOTE]
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