LandThink

Many people start out looking at property without a clear idea of what it is that they are actually looking for. If you will follow the process outlined below, the entire process should be easier, more systematic, and predictable.

Let’s first admit that most of today’s investment portfolios can be traced in some form to the stock market. I was with some friends yesterday and everyone lamented they took a big hit over the past year resulting in steep declines in their personal investment portfolios.

The first land I bought was 60 acres about a 35-minute drive north of Amherst, Massachusetts. I paid $5,000 for the top of a mountain, much of which had recently been timbered.

1. Don’t make a deal on your first visit. Don’t buy impulsively. Don’t make an offer before scoping the property. If you disregard this advice, include a 60-day study contingency with results acceptable to buyer in your contract; this allows you to void the contract if you find something during escrow that’s a deal-killer.

Buying property is one of life’s big decisions, almost as important as choosing a spouse and a little less important than a cell phone.