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About 12 hours to go on the Goldfield Land Auction

There are about 12 hours to go on the Goldfield land auction.  The results thus far a great – the auction is generating much attention, and with good reason.  The financing is quite unique, and the winning bidder is the driver’s seat on this unique investment.

I wouldn’t be surprised if the winning bidder developed the properties and sold them off individually.  With the value of the dollar today, the rising price of gold, and the location of this property, there may be some hidden value for the savvy investor.

Please take a look at the auction here:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220509919523

at the subject property

Goldfield, Nevada

Land for only $10 per month – an ebay experiment

I just posted a property for a client on ebay.  The parcel consists of 19 lots in Goldfield, Nevada.

Most land on ebay is either sold lump sum – for the entire price, or a financing mechanism is built in.  When the owner elects to provide financing, the bidders are usually attracted to a low down payment, usually very minimal or almost nothing.  The somewhere in the fine print it shows that there is a substantial payment stream that follows.

This auction is different in that the bidder gets to bid on the monthly payment.  Instead of fixing the monthly payment, this auction fixes the number of payments.  The bidder gets to bid on the monthly payment.  The down payment would be two monthly payments, with 48 payments to follow.  The purchase price would be 50 times the bid price per lot.

The bidder also has the option of buying only one lot, but may buy up to all 19 lots.

The bid is only $10 per month per lot at this time, but may increase by time to look at the auction.

Please take a look at the auction here:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220509919523

Goldfield, Nevada

Goldfield, Nevada

Want to buy a ski resort in Utah?

I came across an auction for 1,138 acres of land in Utah today – complete with a former ski resort.

Formerly known as the Elk Meadows Ski Resort, this property is in central Utah near the town of Beaver on the I-15 between Provo and St. George. This property is only about 4 hours north of Las Vegas and quite close to Bryce Canyon and Brian Head.

The LFC Group of Companies, a real-estate auction entity based in Newport Beach, CA, will accept sealed bids until 6 p.m. (MST) Nov. 20 at on behalf of an unnamed seller.

A developed company formed Mount Holly Partners LLC in 2006,and advertised big plans for the property including a $3.5 billion plan to turn the resort into a Yellowstone Club-like facility with private houses and a golf course.

Local residents opposed such grandiose projections, and after receiving approvals from the county zoning and planning, the developer still had other issues to deal with including marketing and fraud accusations. Nothing ever materialized and Mount Holly Partners filed for bankruptcy protection this year.

The former Elk Meadows Ski Resort property peaks at 10,300 feet, has a 1,300 foot vertical drop, 36 trails, two lodges, six lifts, and nine condos. It has 420 skiable acres and also backs up to some great backcountry  in the Tushar Mountains.

http://www.lfc.com/property.asp?propID=498

First Online Land Auction for Benton County, Washington

Benton County, Washington, is holding its first online tax auction in December. Be sure to check out the website for these parcels, Starting at just $966 for an opening bid.

Benton County is part of the Kennewick-Pasco-Richland, WA metropolitan area.

Note that this area was rated top for job growth in 2009 by Forbes magazine.

The auction can be found online at: http://www.bid4assets.com/storefront/index.cfm?sfID=496

10,000 Followers on Twitter

My twitter account wealthbyland recently reached the 10,000 mark for followers. I think that makes me a “whale” on twitter.

This follower count does put me pretty high on Twitterholic:

Joined Twitter on 2009-04-14 02:05:30

wealthbyland.com is ranked 5,103th on twitterholic! (by followers)
wealthbyland.com is ranked 4th in their location on twitterholic! (by followers in ‘Reno, NV’)

While these statistics are not all that rare, my achievement is unique in that I got there with no tweets. I also did not use any automated software or paid services.

I am going to make this my first tweet – let’s see what happens with the traffic. Twitter does amazing things for your ranking and placement on the search engines.

I did do a lot of clicking and developed a methodology for obtaining a high follower count in a short amount of time.

If you are interested in learning my tips, please feel free to email me at info@wealthbyland.com. I won’t charge for this advice.

Goals, Aspirations, and the Future

wealthbyland.com has several goals that it aspires to achieve in the future:

This site will:

  • Bring land into mainstream real estate markets via existing vehicles such as multiple listing services (the MLS)
  • Investigate the viability of raw land as a commodity
  • Promote raw land as an alternative hedge investment to gold
  • Explore new uses for “difficult” parcels
  • Provide an active market for land that is perceived as being “remote”
  • Normalize land values using factors and variables to assess certain attributes such as location, size and features
  • Provide an alternative sale market in lieu of ebay and staged land auctions
  • Give relief to those who have purchased land regrettably through high pressure tactics
  • Reveal features of remote land and their associated counties, communities, and locations

Great Quotations about Buying and Investing in Land

“The major fortunes in America have been made in land.”

- John D. Rockefeller

“Buy real estate in areas where the path exists…and buy more real estate where there is no path, but you can create your own.”

- David Waronker

“A man complained that [on] his way home to dinner he had every day to pass through that long field of his neighbor’s. I advised him to buy it, and it would never seem long again.”

- Ralph Waldo Emerson

“My own recipe for world peace is a bit of land for everyone.”

- Gladys Taber

“There have been few things in my life which have had a more genial effect on my mind than the possession of a piece of land.”

- Harriet Martineau

“The small landholders are the most precious part of a state.”

- Thomas Jefferson

“Land monopoly is not only monopoly, but it is by far the greatest of monopolies; it is a perpetual monopoly, and it is the mother of all other forms of monopoly.”

- Winston Churchill

“I have always liked real estate; farm land, pasture land, timber land and city property. I have had experience with all of them. I guess I just naturally like ‘the good Earth,’ the foundation of all our wealth.”

- Jesse H. Jones

“It is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can’t fly away.”

- Anthony Trollope

“Landlords grow rich in their sleep without working, risking or economising.”

- John Stuart Mill

“Buying real estate is not only the best way, the quickest way, but the only way to become wealthy.”

- Marshall Field

“Land increases more rapidly in value at the centers and about the circumference of cities.”

- William E. Harmon

“The best investment on earth is earth.”

- Louis Glickman

“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!”

- John Jacob Astor

“Find out where the people are going and buy the land before they get there.”

- Will Rogers

“Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.”

- Theodore Roosevelt

“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.”

- Andrew Carnegie

“The West is the best, get here and we’ll do the rest.”

- James Douglas Morrison

“I advise women to invest in real estate. It is the collateral to be preferred above all others, and the safest means of investing money.”

- Hetty Green

“No investment on earth is so safe, so sure, so certain to enrich its owners as undeveloped realty. I always advise my friends to place their savings in realty near a growing city. There is no such savings bank anywhere.”

- Grover Cleveland

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”

- Franklin Delano Roosevelt

“Real estate is the best investment for small savings. More money is made from the rise in real estate values than from all other causes combined.”

- William Jennings Bryan

“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.”

- Russell Sage

“Don’t wait to buy land, buy land and wait.”

“Buy land. They ain’t making any more of the stuff.”

- Will Rogers

“I would give a thousand furlongs of sea for an acre of barren ground.”

- William Shakespeare