This is definitely not an ideal situation. Your investments should be providing you with income, not expenses. You seem to be planning on selling so that would be the best course of action but if you can't get it sold (I still think lowering the price would do the trick) then it might be time to look for other uses. Leasing it out is an option or you could always plant trees, though this is a decades long project but it will work out in the long run.
I think the cabin idea could work since the land is almost forest-like because of its far distance from the road. It is also surrounded with other mountainous areas which are mostly used as farmlands. Others are just purely composed of trees and other wild plants. I'm not sure about using it as a hunting ground but you actually gave me an idea on using it for games like airsoft or shooting ranges though I would need some sort of coordination with the locals and the legalities would have to be taken cared of too.
If a cabin is the way you want to play it, make it a bit more modern so it has all of the basic stuff like proper bathrooms, electricity etc. Then either find someone to rent it by the year or throw it up on somewhere like Airbnb and see what happens. Also this way, if there is a lot of land, you can actually let a forest grow and profit every 5-10 years or so by letting a company come and take down some trees.
You're right on that. We haven't gained anything for the past years from that land. The money we actually invested has been sitting there and haven't grown at all. Although there were past investments with remote lands that have been sold easily despite of their distance from civilization. My father just seems to have a fascination in investing on remote lands because of the low buying price. It just so happened that this specific one couldn't be sold that easily.
I am going to go for the cabin idea, if the land is very nice and hunting could be allowed I am sure there would be plenty of hunters that would be interested in going out to see what they could get. Just be sure that they can hunt there. If not then you always have the option of maybe selling it to someone (or doing it yourself) that can develop a portion to become a summer camp for children, or to lease out. In this are there are people that will pay for logging rights, and some farmers will buy parcels of land to feed livestock or plant. I don't think any area is un-sellable but being to far off the beaten trail does have some limitations. These days there are survivalists that will pay a good rate for just such a parcel. You could try to advertise in magazines that address that lifestyle.
Wow! this is a really great threat and a great question- because this is real life- a lot of people buy land in this way and now have a difficult doing something useful with it. And this pattern of non usage can continue for generations! so it is best to act quickly! The fact that you dad bought the land means that there is still a possibility that there are people like your father- who will buy, and that's good. What you have to be careful of though, is coming off to people as though you are passing a "burden" off to them. So my advice is this, try to use the land in the best way possible that you can, in order for the land to make you money,and wait, lol, hopefully God will send somebody from heaven to give you even more than what it is worth!
There is no such thing as unsellable land........even in your case. There is only the fact that a seller can be hard to find because a property is so "unique". You have to find a buyer that is just as unique.
Wow! I'm really getting a lot of ideas here. I have never thought about planting trees for future logging. That could actually work considering wood is a basic material for building. Although we might have to put up with the downside of having to wait for a long time before actually gaining input. We might as well do that while there's no buyer yet. I think that's the most affordable thing we could do right now.
You have no idea how much you guys are helping me out right now. We have never thought of any other way to gain from real estate before than 'buying and selling' because it has always worked for us before. Now I'm realizing that there's more to it than just selling. I like the idea of a summer camp My401K. A cabin which can also work as a summer camp for small groups of children could really work considering most local schools here are doing summer and scouting camps. That's a good thought Investor. My dad has this attitude of buying a remote and undeveloped land for its cheaper price and waits for a certain period when the value has increased then he sells it. It worked for him so many times so I kind of absorbed his attitude towards real estate because of his experience. Though it seems so unusual that we can't find the right buyer yet for this specific land. I do hope too that a heaven sent person would come and buy it out soon.
This is true, everything is possible to be sold for the right price, but many times the price to make it happen is so low that it's not even worth to sell it. It's a matter of offer and demand, it's the market.
