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Do I Sell Them...?

Turner River TerrorTurner River Terror Posts: 8,462 Admiral
edited February 24 in Off Topic #1
2 Parcels , 1 1/2 acre each , East Naples , Fast growing area.
Builders and Land Trust folks call or send me letters weekly , all kinds of crazy offers.
7 Grand to 38 Grand $$  each . I paid  $ 8,900 each 20 years ago. Don't really need the money but my Hunting Pard is a Financial Advisor and he says sell. 
Interest rates are gonna go up and the housing market is going to slow down.
If I do sell them the cash would be government untouchable as soon as I got the cash.
I'm a pretty big ..In the Mattress kinda guy
What say you Finance  Wizards...
I'm also 65 years old and I'm leaving Squat to everybody
Killin and Grillin :grin

Replies

  • kellerclkellercl Posts: 7,744 Admiral
    Sell -> hookers & blow


    “When you're good at something, you'll tell everyone. When you're great at something, they'll tell you.”

    -Walter Payton
  • conchydongconchydong Pompano BeachPosts: 8,406 Admiral
    Sell I don’t think you have any desire to move back to South Florida

    “Everyone behaves badly--given the chance.”
    ― Ernest Hemingway

  • Big MakBig Mak Posts: 4,022 Captain
    Sell it and don't look back.
  • mindyabinessmindyabiness Posts: 6,815 Admiral
    edited February 24 #5
    Don't sell now, prices are moving up quickly. Is the neighborhood on the way up or on the way down? There are lots of factors that can impact pricing, but right now it's a sellers market and New York buyers are thicker then flys on a bulls ****
    Arguing with idiots is like playing chess with a pigeon... No matter how good you are, the bird is going to crap on the board and strut around like it won anyway.
  • stc1993stc1993 Albany, GA Carrabelle, FLPosts: 8,122 Admiral
    Right now is a bad time to build a house.  Lumber at an all-time high.

    I'd sell while I could 
  • MelbourneMarkMelbourneMark Posts: 2,314 Captain
    SW fl is gonna continue to boom with folks fleeing poorly run states.  I doubt the value will go down anytime soon.  Unless, some big development or walmart were to be put in right next to the land....

    id list the lots at much higher price and see if some yank will pay top dollar for a 3 acre total package. 
  • Mackeral SnatcherMackeral Snatcher Posts: 11,826 AG
    I'm no financial genius but I'd take the 38K offer over the 7K offer.
    THERE SHOULD BE NO COMMERCIAL FISHING ALLOWED FOR ANY SPECIES THAT IS CONSIDERED OVERFISHED.
  • SC53SC53 Posts: 626 Officer
    Unless you’re property is way out in the boonies $38k for an acre and half seems low. 
  • ferris1248ferris1248 Posts: 11,175 Moderator
    edited February 24 #10
    At your age, I would sell. Trying to time the real estate market is like trying to time the stock market. Real estate is strong right now so take advantage of it and the low interest rates. Do a little "comp" work to see what the real value is.

    Cash only, quick closing will weed out the flippers. Financing is ok but get at least $5000.00 non-refundable upfront escrow. 

    Do not self finance. If they are serious, they will have the money or quick access to it. 

    "That which is hateful to you, do not do to your fellow. That is the whole of the law. The rest is commentary."

    Rabbi Hillel (c20 BCE)

  • King_MeKing_Me Delray Beach, FLPosts: 6,773 Admiral
    At your age, I would sell. Trying to time the real estate market is like trying to time the stock market. Real estate is strong right now so take advantage of it and the low interest rates. Do a little "comp" work to see what the real value is.


    This ^ If you don't want to 'Will' it to anyone I would take advantage of today's hot market. When you get a little older and the idea comes up again the market might be in a slump. Sell them and put the proceeds in a stock index fund :)
  • Turner River TerrorTurner River Terror Posts: 8,462 Admiral
    The Neighborhood is mostly Rural but the roads are paved and it's well kept. 
    Lot's of vacant parcels there and the Builders are buying , building and selling Spec homes as fast as they can. It's growing fast.
    I have no use for them and don't need the money right now but my FA says when the interest rates go up the housing is gonna go down.
    At 65 I can't sit on them forever..no Long Term anymore.
    I figure I can walk away with 80 K on a 18 K original investment...
    Killin and Grillin :grin
  • OGFOGF Posts: 681 Officer
    What is the address?

    Let the forum experts help determine the sales price. Maybe someone on here would be interested in buying it.
  • dave44dave44 Posts: 12,570 AG
    I’ve got about 1500$ burning a hole in my pocket?
  • ferris1248ferris1248 Posts: 11,175 Moderator
    The Neighborhood is mostly Rural but the roads are paved and it's well kept. 
    Lot's of vacant parcels there and the Builders are buying , building and selling Spec homes as fast as they can. It's growing fast.
    I have no use for them and don't need the money right now but my FA says when the interest rates go up the housing is gonna go down.
    At 65 I can't sit on them forever..no Long Term anymore.
    I figure I can walk away with 80 K on a 18 K original investment...
    Unless you own Boeing stock. :)

    Do it.

    "That which is hateful to you, do not do to your fellow. That is the whole of the law. The rest is commentary."

    Rabbi Hillel (c20 BCE)

  • Soda PopinskiSoda Popinski GrovelandPosts: 14,223 AG
    sell it.   take a nice vacation.   
    Yesterday's memories are not today's reality
  • kellerclkellercl Posts: 7,744 Admiral
    Sell it, wait for market collapse, buy cheap stock 


    “When you're good at something, you'll tell everyone. When you're great at something, they'll tell you.”

    -Walter Payton
  • swampdogswampdog Central FloridaPosts: 1,889 Captain
    Sell it now and be done with it. You never know what tomorrow will bring...
  • Mackeral SnatcherMackeral Snatcher Posts: 11,826 AG
    The Neighborhood is mostly Rural but the roads are paved and it's well kept. 
    Lot's of vacant parcels there and the Builders are buying , building and selling Spec homes as fast as they can. It's growing fast.
    I have no use for them and don't need the money right now but my FA says when the interest rates go up the housing is gonna go down.
    At 65 I can't sit on them forever..no Long Term anymore.
    I figure I can walk away with 80 K on a 18 K original investment...
    Would you care to donate them to my cannabis growing operation? :D
    At your age your gonna need meds

    THERE SHOULD BE NO COMMERCIAL FISHING ALLOWED FOR ANY SPECIES THAT IS CONSIDERED OVERFISHED.
  • jcbcpajcbcpa Posts: 1,973 Captain
    Put a sign up For sale owner with owner financing. Lots of people have the ability to make a monthly payment but may not have the ability to come up with a down payment required for conventional financing. Those folks will usually pay more for the opportunity to buy so,  50,000 each financed for 10 years for 5% int.
    $1000.00 a month income, or thereabouts. Don't know where your taxable income is but if 80,000 or less your capital gain rate will be 0% and all you pay tax on is the interest. Just a thought.....
    I can't give you a sure-fire formula for success, but I can give you a formula for failure: try to please everybody all the time.
    Herbert Bayard Swope
    US editor & journalist (1882 - 1958)
  • 1outlaw1outlaw Naples FLPosts: 1,504 Captain
    I know you havent been gone too long.... Building is absolutely ridiculous in collier county. We own the lots around us and getting stupid offers weekly. We bought them to keep neighbors as far away as possible. We arent selling but we arent moving either,
    Sell and dont look back! 
    Jason :USA
  • Big BatteryBig Battery Posts: 20,671 AG
    Sell it for BitCoin only.
  • SAENoleSAENole Posts: 11,460 AG

    Warning Level 2
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