If ya'll had the chance to purchase 200 acres adjoining the 600 you already own for 1000$ per acre would you do it?

existing debt-30k
timber value on property i already own-100k
yearly income-ballpark 75k before taxes

Take on another $200k in debt with that salary? No way.

forgot to mention 8 yr old planted pines on the 200 acres

Do you have any other substantial debt?

Sounds like a good price, but many of people have gone bust on good deals. Can you comfortably afford it? Looks as if you almost have your land paid for, 600 acres debt free says a lot. I hate debt and regardless of what you hear, there is such a thing as owning to much land. Good luck.

nope...30 k total debt as of now

and the 600 is fully paid for

I think I would lay back and enjoy my 600 acres and work on reducing my 30k dollar debt. Taking on $200,000.00 worth of debt is a load to hoe.

If it is a good stand of timber, then that is a great price and a great investment. Should be ready to thin in about six years.

Only do it if you can afford it without putting your family in a bind. If you don't buy it, someone else will and you may never get the opportunity to buy it again.

Only you can make the decision about being able to adford it. I could do withou a lot of things and spend money on others, but I am not willing to change my life style to do it.

Another thing, regardless of the advice tou will get here, there are other things to consider when buying land other than just the price per acre to make it a good investment.

Not nearly enough info to answer your question.

1. How is it going to be financed? Bank, owner financing etc.
2. What are the terms? If going through a bank they may only do 15yrs on raw land, and will require a low loan to value ratio. In other words you will have to put a bunch down, unless the property is being sold way under market value.
3. Do you have any pines that can be cut on your existing property to substancially lower the amount being financed?
4. Can you get the bank to agree up front on what value per acre would be required to release some of the land from the note? Then you may be able to sell 40-60 acres or whatever is needed, at closer to 2k per acre since it's a smaller tract which can be applied towards the remaining debt. This would leave you oweing 80-120k on 140-160 acres which would be much easier to handle, however you would have to be prepared to handle the payment until it is sold which may take some time on acreage.
5. Have you thought about any other ways to turn your property into income producing property that might help make a good portion of the payment? 800 acres leased out to a few members for $10 per acre would be an income of $8000 per year which would make a pretty big dent in the payment. However, you better have your i's dotted and your t's crossed do to the added liability of such a scenario.
6. Is any of your property suitable for farming? Is so you can also lease out the farming rights as well, which would only enhance the value of the hunting rights. I'm not sure what land is going for in that area for farming rights, but I would think it would be much higher per acre than the hunting rights.

That is a lot of added debt for the next 15 yrs of so, I personally wouldn't do it with what your debt to income ratio would be after the purchase, unless you had a real good plan to pay down the debt quickly or offset it with property generated income. Whatever you do don't tied up your existing property on a note, which the bank will probably try and get you to do.

How old are you?

Hell yes. Why would you NOT buy it?

Would it be possible to come to an agreement with the current owner that would allow you to delay the closing 6 or 12 months? You could use the money that you have ear marked for the new monthly land payment and apply that money towards your current debt.

JR

30k is just car payment ive got plenty $ to pay it off i just havent. i got a sweet interest free finance on a vehicle and just have been making monthly payments

After giving this some more thought, if I were a young man, under 40 years of age and did not have to burden the 600 acres with debt, I would go for it. You can always sell it if you think you need to.

I would do it.

I would definately do it, if i could afford it.

Pull the trigger.