Learning to inventory is one of the most important things I can think of when owning a piece of land. And by inventory I simply mean knowing what you have and how much of it. After working in the I.T. field for nearly 8 years I have learned the importance of inventory and how it directly effects the business on a day-to-day basis.
Making sure we have an extra stock of monitors, computer parts and even printer toners is important because if we don't keep track of inventory someone will be without support or the ability to work for a while, which effects the business. The same goes for land - if you don't keep track of fuel or oil stores, bags of feed or food you could be in a world of hurt and the only person you have to blame is yourself.
A strong cataloging skill-set helps keep you prepared for weeks, months or even years ahead. And the more organized you are the more efficient you can be. If you buy lots of things in bulk you will probably save yourself fuel and time because you're making less "emergency" trips to the town general store or Home Depot because you didn't realize you had run out of X, Y or Z. Or less individual orders online, which save on shipping costs depending on the vendor.
It may seem obvious, but most people I know who own bits of land or have a small business may only know what they have in their head or not at all... not smart. It will come and eventually bite you and you'll hate yourself when it does.
Learn to be one with spreadsheets because they are your best friend - believe me.
I have found that only a few spreadsheets are really required to manage a large plot of land. Easily divided by sections based on uses or frequency of use.
For example:
One section can be for supplies just for vehicles such as: fuel, oil, extra tires, etc.
Another section can be for specific amounts of building materials such as: nails, wood screws, 2x4 boards, etc.
Lastly you can dedicate a sheet or tab (in Excel Spreadsheet) to food and water stores like: bags of rice, spices, etc.
The better equipped you are doesn't always make you the most efficient. The more knowledgeable about what you have will make you more efficient.
Something occurred to our group recently when we started walking more properties: "How much land is too much?"
Now this is something that will be very different from one person or group to the next, but it is good to know what will work best for you.
For us, our group is very small and maybe the idea of having 50-70 acres right off the bat may have seemed grandiose, but on the practical side it seemed more like a nightmare. If you have maybe two or three physically able members willing to put in a lot of time that's still a lot of land to manage. If you didn't have to worry about your normal 8-5 jobs or have any other responsibilities it may be possible, but 50+ acres? Come on...
Granted there's homesteads that are plopped down in the middle of 1,000+ acres out in the Midwest and Southwest United States, but is all that land useable? Possibly, but if I want to have land, I want to have a little to enjoy, and a lot to work on. Having 30 acres that's purely woods and rolling land is a bit much unless you're opening a park or cordoning it off for hunting or logging.
You need to find a good middle ground for the amount of acreage you can both work and enjoy. Walk as many properties as you can and ask A LOT of questions to land real estate agents.
See what's useable and like I mentioned in an earlier post ask about flooding and or view properties in the Spring or Winter if possible to see the land at its worse so you know what you're getting into.
Properties are still cheap right now and if you see something that you think will work for you, grab it!
*Remember! If you plan on taking a loan out on parcel of land take note that it is MUCH different than getting a loan for a house. The financial requirements are much more strict and it's usually better to have most of the cash up-front if possible. As we found out that most banks won't even give fixed interest rates on land so... if the market picks up your 6% loan interest might turn into 15%. Just something to keep in mind.
Just a quick note! I am not an expert of buying or owning land, but this is just my opinion (like most of this site) based on the research I've done for myself because this is something I'm interested in.
Introduction
For some time now I have considered the option and possible investment in buying a large lot of land - anywhere from 30-280ish acres depending on local geography and price. Now more than it ever seems like it'll be a realistic feat to accomplish. With a few close friends working together we may have land in a couple of a years.
Some of which spawns from the idealistic philosophy of being self-sustainable, being away from people in general and possibly starting a small business.
I have for a couple of years enjoyed watching YouTube videos of people's off-grid cabins on their own huge plots of land out in Colorado, Nevada, etc., but I live in New Hampshire. And although we have a fair amount of open space in our no-sales-tax state, it doesn't match up to a lot of other popular off-grid living states out West. If we're talking about price per acre you can't beat states like Montana or Colorado, Utah, etc. Looking at them sometimes I wish I could just pack my bags and move out there, but for now I'll be sticking around here - I like it here.
Shopping for Land
There's so many things to consider with the initial search, especially with limited budgets and with land prices varying based on factors ranging from the actual shape of the property, local geography, road access, etc.
Initial purchase aside you have to figure out how much money will go into making the land usable? Does land need to be bulldozed? Areas cleared? Wells dug? And in addition can you or someone you know do these things or have the equipment for you to use or will you (God forbid) have to pay someone to do all this for you? If you're on a limited budget you can pretty much forget that.
Obviously before you purchase land you have to see what it's like and be able to imagine all the things you want to do in place. Much like looking at a house on sale and seeing your own layout of furniture. Also it's best to view land in the winter and spring to see the property during the harshest seasons - snow season and mud season. If during the Spring there are areas that become completely impassable due to heavy rain and mud you may want to skip on it - this is something that some people overlook and wish they had researched beforehand - oops, now you're stuck with 200 acres of land you can't even travel through!
Preparation
Equipment, equipment, equipment. Depending on what your goals with land are this will vary greatly. Most of the equipment will be expensive and BIG. Heavy duty pickup trucks or Ranch Trucks are pretty common place on large plots of land and help with the moving of equipment or assets (i.e. hay, lumber, front-end loaders, etc.).
*Diesel is highly recommended for engine durability, high torque, fuel efficiency and the ability to run on bio-diesel mixes.
**If you're really planning on going off the grid you can also invest in an older vehicle with a carburetor and research on how to make it run on a wood-gasifier system, which you can read a bit about in an earlier post: The B.O.V. or "Bug Out Vehicle".
Most good diesel trucks available in the US are actually American-made as most of the other truck options will be gasoline-run instead. If you were, for example in Russia or Eastern Europe I'd recommend you to buy a Ural, but guess what? We're not in Russia or Eastern Europe :P
Some Ranch Truck possibilities:
- Ford F-250, F-350, 3500 Dually, etc.
- Dodge RAM 2500, 3500
- GMC 2500 Duramax
Livability Options
For this land you could be working on it, living on it or both. DIY building can be cost effective, but only if you have the know-how. There's lots of literature and even courses you can attend to learn how to make your own home or log cabin, but there's also modular homes you can purchase and have shipped to your land if you so choose. It all depends on your land, future plans, finances and skill set(s).
Example
We will purchase a plot of 40 acres with road access after walking the grounds (during mud season) and having it professionally surveyed. Plans and concepts will be drawn up for placement of assets of the property.
Once finalized, equipment will be purchase or transported to the site to begin work. Clearing a path for access to the work area will be one of the first things.
Depending on plans we may start building a barn or storage to begin to safely keep equipment in while we're away.
If clearing land looks too daunting we will request that a lumber company come in and clear a section that we would like to use - they will usually pay you for the opportunity and the lumber they yield from this process, but this may take a long time to accomplish depending on the lumber company you're requesting and the current season.
After land has been cleared a small Christmas tree farm will be planted as part of a long term profit plan as they will take 5-7 years to mature.
If the land has beautiful views it may be opened for a small fee for hikers or even horseback riding.
A number of small businesses can be operated on a piece of open land such as a general store, vegetable stand, camping grounds, etc.
After a couple of years of steady profit modular homes will be shipped up or cabins will be built to live on the land permanently and eventually it'll become a self-sustainable property.
I have found that only a few spreadsheets are really required to manage a large plot of land. Easily divided by sections based on uses or frequency of use.
