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Author Topic: If I knew then what I know now. . .  (Read 2216 times)

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Offline Robert R

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If I knew then what I know now. . .
« on: November 21, 2005, 10:07:58 PM »
I was just sitting here working and had a "How could I be so stupid?" moment.

Ok, I have a lot of those, I just usually don't publicize them.  Several years ago, probably 4 or 5, my grandparents offered to give me several lake lots that they had purchased as an investment and it never panned out.  They are in the middle of nowhere, densely wooded without utility access.  I politely declined.  Not big enough for horses and I would have to moves all those darn oak trees out of the way.  If memory serves me correct, there were 4 or 5 contiguous lots.  I don't recall how wide.  Since I didn't want them, they were just going to let them go to back tax auction. 

Any idea how long that would take to happen.  The taxes were current when they offered them and they may still be, hasn't ever been mentioned again.  Grandpa passed away a little over a year ago.  I don't know if Grandma will even remember where they are at.  They are only an hour and a half from me and the mills I sell to are on the return route.  They might well be worth having now that I am aware that trees actually matter for more than the occassional camp fire fodder.  Other than that, I don't foresee any of them ever having significant real estate value--the reservoir didn't fill like the Army Corps said it would.  In fact, several more lots can only be found via depth gauge now but probably make excellent crappie beds.  I am pondering the viability, after reading another thread about back taxes, of acquiring some of these lots and having some camping/logging weekends.
chaplain robert
little farm/BIG GOD

Offline Modat22

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Re: If I knew then what I know now. . .
« Reply #1 on: November 21, 2005, 10:16:25 PM »
oh that hindsight stuff always makes me depressed. God provided me with many branches in the road along with road maps, But I always seemed to take the wrong path. Looking back in time I can see the paths clearly and can almost see how both myself and my life would be different. I try to keep my eyes open now and I find that I listen to that inner voice now, even if its whispering.
remember man that thy are dust.

Online sawguy21

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Re: If I knew then what I know now. . .
« Reply #2 on: November 21, 2005, 10:39:15 PM »
Oh Wow, what a topic. In 1971 I was working in a deserted gold mining area that had been turned into a provincial historic site. Outside the park, creek side lots were going for $75.00, $125.00 if there was a structure on it. Taxes were $16.00 a year. I passed because it was only a summer job and what was I going to do with a plot in the middle of nowhere. Well, by 1973 the road was straightened out and paved, gold was put on the free market, hit $900 an oz U.S. and there was talk of re-opening the mine. Guess what happened to property values. I can now buy that same lot for $200.00. Oh well, my ship came in and I was at the airport. :D :D
old age and treachery will always overcome youth and enthusiasm

Offline Ron Wenrich

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Re: If I knew then what I know now. . .
« Reply #3 on: November 22, 2005, 05:49:05 AM »
I think it is a 2 or 3 year backlog.  I had several clients that made big bucks buying tax sale land.  But, they were lawyers and had all the time to do the research.  Tax sales are usually held during the time that most people can't attend.
Never under estimate the power of stupid people in large groups.

Offline Mike_Barcaskey

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Re: If I knew then what I know now. . .
« Reply #4 on: November 22, 2005, 07:08:12 AM »
as Ron implied there can be money made in tax sales, but for us average joes with daily responsibilities, we dont have the time or means to chase every lead
It matters not how strait the gate,
How charged with punishments the scroll,
I am the master of my fate:
I am the captain of my soul.

Offline Gunny

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Re: If I knew then what I know now. . .
« Reply #5 on: November 22, 2005, 08:09:57 AM »
Well...

I'm an average Joe kinda fellow and I have lots of daily responsiblities, too, but have always found the time (since I have the same 168 hrs every week that God gave everyone else) to be aware of those things going on around me here at our 300-acre lake.  I've picked up some 30 properties here over the last 15 years and most had mature Red and White Oak and many more species, ready for harvest when titled over to me.  Most of these surveyed properties cost me fifty dollars cash and an additional $12.50 to the Real Estate Division at the DNR for proper Title transfer.

If you're able, check out my article in BackHome magazine I wrote for them back in 2000.  I have to get out to reload the kiln right now but will get back to this thread later today since it's a subject we might all benefit from.

Best to all.


Offline jerry-m

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Re: If I knew then what I know now. . .
« Reply #6 on: November 22, 2005, 10:28:08 AM »
Hi Gunny,

Very interested in what you have to say on this subject... I used to dadble in real estate but never messed with land tax sales...

Robert, Thanks for starting this thread as your remarks have reminded me of 5 lake lots that my brother ownes... They are grown up and no one has been there in years... Going to have to go look to find out what kind of trees are there...

Jerry

Jerry

Offline Gunny

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Re: If I knew then what I know now. . .
« Reply #7 on: November 22, 2005, 12:49:55 PM »
jerry-m:

I know that many folks have done well in many things in their lives but, looking back, I can think of only two commodities that I've NEVER regretted investing in: Timber/Raw Lumber and Land.  Lord knows I've strayed some as the years rolled on but I can honestly say that those two investments have never failed to yield some exceptional results.

Your first call might be to the (at least here in MI it's called this) Real Estate Division of the DNR.  We have auctions, conducted by the State, every year and booklets of properties which will be going on the block are published well in advance and are sent to those who call and request them.  Our State has divided itself into specific geographical regions and these auctions are held at different times in different regions.  You sure do want to research these lands and eyeball them long before bidding on them.

A lot has been mentioned about abandoned/vacated/forgotten lake properties within this thread and you may wish to begin your search within those specific communities since--even here at one of mid-Michigan's nicest all-sports lakes--there are dozens and dozens of lots available each and every year.  My primary interest in bidding on or buying these properties has been the existing volume of timber (suprisingly, even some of these marginal properties might yield 5-10MBF mature timber). 

So many options, not enough time right now.  We just picked up 7 more lots, along with the two cottages that had been abandoned on them (one cottage is now our planer/molder/furniture shop and the other's old dining room is now our kiln chamber).  We got them all (contiguous) for less than the single corner lot is appraised at.  And we didn't even suggest the sale price--the Sellers did!  We paid cash.  The next day.

I began by usinbg my pay from a National Guard summer camp back in the late '80s and got title to 14 lots with that that year.  Things have changed though and the State tries its best to maximize its sale price.  I've witnessed swamp lots sell at these auctions for 50 times their worth and prime properties go at 10% of their value--go figure.

It's fun, too.  We picked up about 50MBF of mature timber on top of the dirt we just paid for.  And, with a  contracted, on-site portable bandsaw mill and DH dry kiln and planer and molder and furniture/craft shop, it gets to be even more fun with every day. The only hard thing about it is that we always have such a darned time letting any of the lands go.  We put a lot of time into a TSI approach and realize that the properties are always more precious once we've cleaned them up a little.  And that's a good thing for our kids and grandkids.

Must get back to the chores.  Have fun.








Offline Robert R

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Re: If I knew then what I know now. . .
« Reply #8 on: November 22, 2005, 01:15:31 PM »
I have not subscribed to that magazine but have bought a few times off a newstand.  I would very much be interested in your article.  If you know the specific issue, I could try to get a back issue from them or maybe you could post it here, since you are the author.  Thanks for the info, very interesting.
chaplain robert
little farm/BIG GOD

Offline Gunny

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Re: If I knew then what I know now. . .
« Reply #9 on: November 22, 2005, 02:40:35 PM »
RR:

My, my addled noggin seems to be having a time keeping track of the years these days!  That piece wasn't back in 2000 at all. 

The article is in the June 2002 issue, beginning on pg 38 and is titled (they retitled it from my much more clever and timely theme!) "Scouting the State-Run Land Auctions."

At least for me, there's still an awful lot of info packed into those two pages.  Hope you can find it.  It should be pretty easy to get your hands on.

Offline Robert R

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Re: If I knew then what I know now. . .
« Reply #10 on: November 22, 2005, 10:59:22 PM »
Back Home Magazine.  Ok, I was thinking Back Woods Home Magazine.  I got thrown in the yooperdom.  Let me try searching again.
chaplain robert
little farm/BIG GOD

Offline jerry-m

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Re: If I knew then what I know now. . .
« Reply #11 on: November 22, 2005, 11:04:05 PM »
Thanks for the reply Gunny,

Also I will try to find your article in the Back Home Mag. ? I have several maganzines with that title or close to it?  I will look later...

Thanks    Jerry
Jerry

Offline TexasTimbers

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Re: If I knew then what I know now. . .
« Reply #12 on: November 23, 2005, 05:55:07 AM »
Bob Segar summed it up pretty well ........

"....wish I didn't know now what I didn't know then....."
The oil is all in Texas, but the dipsticks are in D.C.

Offline Murf

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Re: If I knew then what I know now. . .
« Reply #13 on: November 23, 2005, 11:31:21 AM »
Yuppers, ders a few tings I've noticed as I got older.......   ::)

I've learned that one good turn gets most of the blankets,

I've learned that whatever hits the fan will not be evenly distributed,

I've learned that depression is merely anger without enthusiasm,

I've learned age is a very high price to pay for maturity,

And most of all, I've learned that the people you care most about in life are taken from you too soon and the jackasses just never go away, no matter how hard you want them to.......
If you're going to break a law..... make sure it's Murphy's Law.

Offline Modat22

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Re: If I knew then what I know now. . .
« Reply #14 on: November 23, 2005, 11:54:40 AM »


I think budda said some of the same things, just in different words.
remember man that thy are dust.


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