Absentee landowners are individuals or corporations who own property, land, or timberland but do not reside on or actively manage it. Oftentimes, being an absentee owner is just downright not fun. Owning a property that you don’t live on or near, often leads to significant logistical, financial, and management challenges.
Take, for example, owning land that’s located hundreds or thousands of miles away from where you live. What do you plan on doing with it aside from sinking your own money into it by paying taxes?
When it comes down to it, everyone could use a little extra cash. However, not everyone wants a random piece of land they don’t plan on doing anything with.
In this video, Pat Porter, with RecLand Realty, talks about dealing with a property as an absentee land owner. He shares the cautionary tale of an elderly couple living in California, who own 20 acres of timberland in Louisiana, with no access and no timber value. He shares why, at this stage of their life, their best option might be to sell.
Whether you’re leaning toward selling, maintaining ownership, or just trying to understand your options, the right starting point is a straightforward conversation with a land agent who knows the market.
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