Ohio Chatter

Land Purchasing

Serious Business
mcburg93 permaban to basement
3,193 posts 25 reps Joined Dec 2009
Mon, Sep 3, 2018 11:33 AM

Have any of you looked into or bought a sizeable amount of land? I have just recently put a bid in on two seperate farms in Eastern Kentucky where most of my family is from. I was born and raised in Ohio but both sides of my family come from Kentucky. I was wondering if you had any regrets, hardships, and maybe what you would have changed.

I have everything I own paid for and was wanting somewhere to hunt and stay down around family in Kentucky. Land is cheap down there both properties I bid on were over 200 acres and right around 190k for the larger 240 acre farm and the smaller 225 acre farm was 165k. The smaller farm has half mineral rights while the larger has all mineral rights but was shown to have nothing worth value under the ground. Both have never been logged so there are some value in timber. But really not interested in that just that I have a place to stay and hunt when I go down to visit. 

With that being said have any of you had experience in buying large parcels of land? 

justincredible Honorable Admin
37,969 posts 246 reps Joined Nov 2009
Mon, Sep 3, 2018 11:49 AM

I haven't, yet, but we plan on buying land in Kentucky as well. Though we'll be buying within 20 miles of Cincinnati, so the prices are significantly higher, thus our parcel will be much smaller. I've got my eye on a 10 acre, mostly wooded lot right now that is within my commute time requirement and is decently priced for the area ($48k).
Spock Senior Member
5,271 posts 9 reps Joined Jul 2013
Mon, Sep 3, 2018 1:14 PM

I have always wanted a play property.  Land in SE ohio is fairly cheap.  I know the best land grab in the US right now is in SE Colorado
justincredible Honorable Admin
37,969 posts 246 reps Joined Nov 2009
Wed, Sep 5, 2018 10:29 AM

Just found a beautiful 6 acre lot, partially wooded, with a small pond on it. It's a little more than I'd like to spend, but it's still in my budget and looks to be almost exactly what I want.
mcburg93 permaban to basement
3,193 posts 25 reps Joined Dec 2009
Sun, Sep 9, 2018 1:24 PM
posted by justincredible

Just found a beautiful 6 acre lot, partially wooded, with a small pond on it. It's a little more than I'd like to spend, but it's still in my budget and looks to be almost exactly what I want.

That would be a great decision. I am super happy I found what I want. The larger farm my offer was rejected but they come back with a counter offer. The smaller farm they accepted my offer and that is the one I am going after. Have all the paperwork done and waiting on the bank since I am using my current property as collateral. It has the half mineral rights and part of that is all the natural gas I want. The mineral rights will bring in about 650 a month and once the old man and lady pass I will get the full mineral rights. I will eventual put a natural gas generator on the property but that will have to wait til I get the house fixed up and clean up some of the property like some old fence rows and around one of the barns. Has a ton of old equipment on the farm and the owner is an older couple, I told them they could leave everything if they did not want to mess with it. In that deal my offer was a little more than I wanted to give. But I figure I could redo some of it and sale it or just sale the stuff online at some of these sale sites. My biggest project is the house. It has old knob and tube wiring still in use. Craziest thing I have come across in a long time. They have no indoor plumbing except in the kitchen where they had a sink and cold water. The drain just goes out the side of the house in a culvert that takes it to the local creek. The house structure is in great shape but needs all new wiring, plumbing, and hvac. So that will be a big job but lucky I can do all that myself. I figure I will have to put in another 50-75k in repairs and upgrades but I think it will pay off in the end. I am pretty excited and cant wait to take possession. I told the realtor that if they man and woman wanted to live there a few months until they find them a place I had no issue with that. But I guess they are moving to a retirement village in florida. The 650 a month they will get from mineral rights will pay for that I am guessing. I am hoping they leave some of the antiques in the house. They have some real nice stuff and some of it that I looked at looked to be from the late to mid 1800s.  

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