Would you rather rent or own recreational land?

[nclakesandland]

I am curious about how the outdoor crowd feels about recreational land.  I used to think ownership was the only way to go for a cabin on the lake, hunting land, etc, but I have changed my tune over the years.  We sold the lake cabin and now prefer to hit resorts when we head north.

Which situation would you rather have: 1) own 120 acres of land 2) own a cabin on a lake next/close to whatever public land you like to hunt/explore 3) rent 10 to 15 acres on a logging/forest road inside of one our state forests 4) rent a cabin on a lake close to whatever public land you like to hunt/explore 5) rent a small piece on lake where you could camp close to whatever public land you like to hunt/explore or 6) rent 160 acres that you have all to your hunting party?

The kind of rentals I am talking about are long-term (1 year) so it seems a little more like ownership for comparison reasons.  How often would you go to the property?

What is you choice?  Just curious how people feel.

Thanks, Bill

[dakids]

Own 26 acres near Remer.  We get to the land as often as posable. 40 days a year.  wish it was more.   My kids love going their and we have created memories.  I grew up hunting my grandparents land and had lots of memories.  I really miss being able to hunt the old homestead.  Uncle told us this fall it will be our last because his kids FRIENDS are going to hunt it.

Ownership has its perks

[The General]

Own land

[Boar]

Definately own, Its grows in value, an can be left behind for forture family, kids, grand kids ect, Its an investment that wont decrease in value in my 2 cents. My family has 80 acres of river bottom that I cant put a price on. The memories it hold are pricless.

[nclakesandland]

Boar, I couldn't agree more on the priceless part.  I also understand the appreciation part of the equation.  For me the cost of entry now days is too great.  I wish, like we all do, that I could turn the clock to when you could buy a piece for a price you can justify with that cost/benefit equation.  My grandfather bought 96 acres in 1965 for $2000.  The land next to us just sold for 1500/acre.  That puts hers at roughly 150,000 to buy now.  Decent appreciation over 50 years.  But my grandmother has been paying taxes to the tune of at least $1000 for that last 20 years.  That doesn't count the interest paid if you finance and then subtracting capital gains.  Interest of course is the big drain and I don't trust that the government will keep that mortgage interest deduction in place.  So do you really make money?  I can't convince myself of that anymore.  We sold our cabin because once you added all the holding cost and maintenance and then divided it by the number of times we went up there, it is less to go to resorts and not do any work.

I recently read Warren Buffets letter to his shareholders (don't ask why, I am not a financial mind) and this line was on the first page: "Over the last 48 years (that is, since present management took over), book value has grown from $19 to $114,214, a rate of 19.7% compounded annually."  That is if you owned one of his Class A stocks, just one.

At any rate, it got me thinking is real estate that good of a deal?  Thanks for the input.

[ray634]

I would prefer to own but would have to live on the land to justify it.
I appreciate the maintenance and holding cost because I own and live on 240 acres of great hunting land that I inherited. The farmer down the road rents 30 some acres in exchange for 1/2 beef a year, and I have a party of 10 that comes up to hunt. If I was to charge them for the work I put into the hunting aspect of the place I don't know if they could afford it.
I never was much for going to a resort for a vacation as there was always so much to be done at home.
Looking back I may have done better by living in town and taking resort vacations and "up north " hunting trips.

[beeker]

land is the best investment there is.. they're not making more of it. we have a 40 and just the fact I can walk out there and chainsaw a trail to no where, shoot my guns and burn whatever i want is worth it to me. no one can tell me where to sit, or when to hunt.. I always have a place to go sit on a stump and shoot those f'n red squirrels. I've seen 4 kids get their first deer here.. had 2 dogs fetch their first grouse/duck... buried my wheeler up to the seat a time or too, or just build a bridge across a swampy spot  mostly because I was sick of buryin the wheeler in that spot, buts it my bridge.. 

 i can go sit by my fire and don't have to pretend to care about my "weekend neighbor" who invited himself over from the next cabin which is so close you could spit on from your rentals front door.. never know when you'll be at a resort and have some stupid dinks next to you making your time there less enjoyable and you still have to pay to borrow their dumpy cabin with the best of the 80's thrift store furniture .

buy some land.. stake your claim

[whiteoakbuck]

i would need to own the land i wouldn't want to rent or lease land cuz you don't have total controll of what you want to do with the land or who you can bring out on the land

[Boar]

I cerrtainly am not very vestment wise with money maters an i certainly hear what yur saying when you crunch numbers. But my botom line is, what else am i gona spend money on, Im gona enjoy it while im hear an if I loose money to live life so be it. Seriously, I think of it this way. I bear hunt, an breath it every day, Im more alive than every when Im in stand with mykids over an active site.  My daughter shot her first bear last year an total meat of the bone was around 100 lbs. money spent last year to sit in a stand an wathc her thump a bear, gas  bait time form home an home duties, tiem from work lost cause of no vacation time from an understanding company an a 500  dallor taxidermy bill. estimated cost. 2000.00 at 20 bucks a pound its a hell of alot cheaper to put that in sams club an buy out the beef department. But that dose not enter my mind really its what I do an I spend money to do it an could care less of the cost. Cant take it with you, im spending an enjoy life now cause i doubt I will later. Its just money, spend it.

[Go Big Red!]

Own or sit next to beeker on the stump next to him.   

[Boar]

Sweriously try putting all the outdoor activities we do by the dollar, the price of walleye is astronomical,its almost worth its weight in gold, Ive been to LOW 9 tiem this ice season for a dozen walleys, 150 bucks a trip cause i have my own house. price that by the pound. OOfffdahh! If I cared about the money spent for the activities i do that makes boar BOAR, i wouldnt be boar Id be some schlep sitting on the couch going yes dear no dear your welcome dear, can i get you anything dear, Instead Im some schlep that says, Im sorry dear i lost track of time, dont worry, I'll clean it up, I need a new one of these, I know I have 10. I forgot to take out he grease containers from ur car, I was at the grociery store an they were just gona throw it out, perfectly good used grease. Not tonight i hunt in the morning. Actually not this quarter Im hunting til the end of January. Money is ment to be spent an enjoyed. If Im broke im living.

[beeker]

Boar can't put a price tag on those kind of memories with the kids.. can't take it with you.. and the kids would rather rememeber dad getting sprayed with mud by the rooster tail of a stuck wheeler than gettin a few more dollars when you kick it.

red.. you got a 22 you can come shoot all the squirrels you want.. may even show you where the ducks are

[Boar]

Just for the record, those dozen walleye do not reflect my icefishing abilities an any whay shape or form

[Go Big Red!]

Boar can't put a price tag on those kind of memories with the kids.. can't take it with you.. and the kids would rather rememeber dad getting sprayed with mud by the rooster tail of a stuck wheeler than gettin a few more dollars when you kick it.

red.. you got a 22 you can come shoot all the squirrels you want.. may even show you where the ducks are

I prefer a .17 and you can count on whacking a few ducks with me....

[beeker]

you come check it out this spring if your bored.. we'll be up there most weekends. first few years it was really wet back there.. real easy to sneak down with the dog and smack a few.. the last few years its been dryin up a bit.. but still ducks around.

[Go Big Red!]

you come check it out this spring if your bored.. we'll be up there most weekends. first few years it was really wet back there.. real easy to sneak down with the dog and smack a few.. the last few years its been dryin up a bit.. but still ducks around.

McGregor area correct?

[beeker]

mcgrath.. about 20minutes south of mcgregor..

[Go Big Red!]

mcgrath.. about 20minutes south of mcgregor..

I knew it was McSomething.

[beeker]

I'm not allowed at any of the MC places up that way anymore.. after an incident with some mcnuggets last summer..