Land is gold (Austin, Liberty, Leander: lease, lenders, buying)

[Dreamcatcherblanc]

Anybody considering buying land in the Austin area to buy and hold? Having land in growing cities such as Leander or in the hill country sounds promising.

[Trainwreck20]

Taxes are still hell on undeveloped land if it isn't ag exempt, which it likely would not be. Any land under ag exemption is already being held.....

[Austin97]

Originally Posted by Dreamcatcherblanc

Anybody considering buying land in the Austin area to buy and hold? Having land in growing cities such as Leander or in the hill country sounds promising.

I have 20 acres around 183/mlk and 100 acres on the west side.

As recently as last year I saw 50 acres for 700k across 71 from the airport. I constantly monitor for land and there is none on the east side right now.

scopro has land adjacent to cota.

The far east side (east of 183) is where I mainly look. It is about as far from downtown as the domain and most of our future development will end up being out that way.

land is a very tough investment
1) very few lenders lend on land
2) equity requirements are higher
3) hard to generate income while you wait
4) not liquid - much less liquid than SFH

I personally love land, but SFH or MFH make better investments.

On the plus side, value for value, the taxes are lower than developed properties.

[ScoPro]

A developer paid $2.5 million (or so he told my neighbor) for the 50 acres next door to my 25. Here’s his project rendering:
That plot lost its ag exemption a few years ago. Mine is current - it is leased to a hay producer who gets a couple of cuttings each years. It pays for the very modest taxes, and that’s about all.

[Dreamcatcherblanc]

Originally Posted by Austin97

I have 20 acres around 183/mlk and 100 acres on the west side.

As recently as last year I saw 50 acres for 700k across 71 from the airport. I constantly monitor for land and there is none on the east side right now.

scopro has land adjacent to cota.

The far east side (east of 183) is where I mainly look. It is about as far from downtown as the domain and most of our future development will end up being out that way.

land is a very tough investment
1) very few lenders lend on land
2) equity requirements are higher
3) hard to generate income while you wait
4) not liquid - much less liquid than SFH

I personally love land, but SFH or MFH make better investments.

On the plus side, value for value, the taxes are lower than developed properties.

That’s quite a bit of land you have there. I wasn’t even thinking about a few acres. Quite honestly, I was thinking that even holding less than an acre in an awesome location would be all I need. I don’t have that large of a budget but I could spare up to 50k or so

[Dreamcatcherblanc]

Originally Posted by ScoPro

A developer paid $2.5 million (or so he told my neighbor) for the 50 acres next door to my 25. Here’s his project rendering:
That plot lost its ag exemption a few years ago. Mine is current - it is leased to a hay producer who gets a couple of cuttings each years. It pays for the very modest taxes, and that’s about all.

If you don’t mind me asking, what do plan to do with 25 acres? Is that something you’ve owned for a long time?

[ScoPro]

Originally Posted by Dreamcatcherblanc

If you don’t mind me asking, what do plan to do with 25 acres? Is that something you’ve owned for a long time?

It has been in the family for 50 years, but no plans except to leave it to my kids.

[PRon]

If anyone wants to Consider retail investment, this is great opportunity. Its in Liberty Hill and that city is Hot now with so much residential construction

https://www.loopnet.com/Listing/1270...l-TX/21059940/

[kt2le]

We have acreage fronting Hwy 71 just outside 130 that's leased so we can maintain our coveted Ag Exemption. Otherwise taxes would be out of sight. It's 5 minutes past the airport so we're sitting tight as commercial growth continues to march east.