Originally Posted by JonM
Number one after what c3 said is how is the land/property going to pay for itself. Are you willing to eat the tax burden and upkeep burden and insurance burden each year??
Even though property is the number one way to preserve wealth its not typically an investment vehicle in which your going to get rich off of.
If it wasnt for the current overspending by obama i wouldnt have sunk my money into property. For me its a hedge against economic disaster we are facing. I dont forsee gold holding value once the collapse is done and buying current prices at the time wasnt an option.
Originally my plans were to open a bbq restaraunt but not in the current economy. So im just waiting with a rental property paying for itself as a vehicle for holding my wealth.
It's not really an issue of preserving wealth or getting rich. It's just that for the last 4 years I've lived on 68 acres, and my fields are surrounded by woods.
I can snow mobile, hike, hunt, camp, cut trails, use an ATV, shoot guns, ride horses (I haven't done that on the property yet, but I could, and do want to own horses). I have a small garden, apple trees, and a vinyard on the property as well.
I like that lifestyle, and would like to live like that. I like the seclusion, the privacy, and the freedom to do things on my property, and hunt. That's it really.
So I'm looking for low taxes, in a state that won't turn blue like Colorado is...