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Scraping together enough cash  RSS feed

 
Posts: 87
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Does anyone have a creative idea for scraping together enough cash for a large land purchase?

I've heard about the sharing thing, but haven't seen any details. I'm curious how that would work, as far as paper. I can't imagine we'd be able to subdivide or split the land into too many slices and eventually people die and want to hand things down to their kids. That's when things get REALLY messy. Any thoughts or suggestions? I suppose an easement or covenant could be put into the deed permitting a certain amount of land to be built upon and not permit any more subdivision.

I'd love to hear anybody's thoughts.
 
Posts: 514
Location: North-Central Idaho, 4100 ft elev., 24 in precip
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books food preservation fungi hugelkultur trees
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It seems like something along the lines of an LLC or SCorp might make for a pretty good option. You could sell shares here kinda crowd funding style. You could work out the particulars as far as building etc before your IPO and let everyone know how that's going to look before they pony up the cash.

How much are you looking to raise here? Are you talking millions or a few hundred thousand? In either case it seems like you could raise a good amount right here on the boards and maybe a little shout out on the daily-ish emails. I think the main thing is coming up with a hard and fast structure for people to look at and decide if that is where they want to put their resources.
 
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Location: Kansas Zone 6a
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LLC, Scorp or land trust, depending on the players and state involved. It is a problem, as the system is stacked against the idea.
 
Josh Ritchey
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Thanks folks. We're presently sitting at a maximum of 97K, but I understand that approximately 30% of the land is not legally accessible. Due to that bit, many of us are unwilling to pay the asking price for the land. We're presently trying to get info on whether or not we can purchase only the parcels which are legally accessible.
 
R Scott
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Location: Kansas Zone 6a
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DO NOT buy land that is "not legally accessible" or next to it. That usually isn't zoning, it is some watershed protection or similar. That is a step or two worse than a HOA in regards to other people telling you what you can and can't do to your land.
 
Josh Ritchey
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It's not anything like that, it's a physical boundary that we're not legally permitted to cross. I understand it to have approximately 30-40% of the land on the inaccessible side of the boundary. I'm sure we could use that land fine, but there is always a chance that the legality would come back around to cause problems.
 
Dave Dahlsrud
Posts: 514
Location: North-Central Idaho, 4100 ft elev., 24 in precip
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You might look at structuring an offer that includes the inaccessible part but doesn't include that acreage in the price of the purchase. I.e. 30-40% off the price less whatever you feel is a reasonable price for the remainder. It seems like whether you can access it or not it might become accessible in the future so you might as well structure a deal that gets it all. I would definitely play that angle in the negotiations.
 
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