Trying to keep it in the Family - Page 2 - Lateral-g Forums

ErikLS2 · #11 06-19-2011, 11:26 AM

This sort of thing can be hard on families but have you considered going to them and see what would be a fair price and avoid the auction all together?

Good luck with it, it's a beautiful piece of land for sure!

**Ummgawa** · #12 06-20-2011, 09:27 AM

That farm will produce enough Hay to pay any monthly loan you might get on it. Can you agree to have your family take some up front money and take monthly payments? It would give you time to work out financing, or is this a settlement of his personal estate by the Lawyers representing his estate?

RECOVERY ROOM · #13 06-20-2011, 09:59 AM

The land is great, It's worth more than a car any day. Hope it works out for you.

johnnymac46 · #14 06-24-2011, 09:12 PM

So I've been busy with work and forgot I started this thread. Thanks for the advice and kinds words to everyone.

Nothing is owed on the property it belongs to my Grandfather who passed away a little over a month ago. It's being placed up for auction to avoid adding any difficulties. I have spoken to my aunts and uncles (7 children), and they have all decided auction was the best way to go. I'm trying to get my mother and Sisters in on it just to keep it around. It's been in the family for way to long to see it go.

CRCRFT78 · #15 07-08-2011, 09:53 PM

Hey John, any updates about the property?

johnnymac46 · #16 07-08-2011, 10:38 PM

The auction is in September... As of right now getting the money is my problem...

I'm 23, have 1 mortgage, and a truck payment, am an e-6 in the navy so to a bank I'm pretty much maxed out.

I could handle it financially, however managing a property that is 12 hours away with renters and leasing the land to farmers may be a stretch given my schedule

I'm still trying to find a way to to manage it, I may sell the truck and go with the paid off 03 silverado I've had for a while now to free some money up. And try to get my sisters to invest with me.

I've been looking into alternative ways to make money off the property( cellphone towers, renting land,renting the house, selling hay, selling the timber, offering storage) if anyone has any ideas feel free to chime in.
Thanks for all the help and kind words from everyone.