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Group buy on a piece of land?

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Old 11-03-2005, 02:40 PM
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Originally Posted by valentine,Nov 3 2005, 06:58 PM
they could fish, boat, hunt a little, build race tracks, etc.
Sign me up!
Old 11-03-2005, 04:40 PM
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Im in...
Old 11-03-2005, 07:31 PM
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Originally Posted by PhilipLowe,Nov 2 2005, 04:39 PM
Rule 2. ________
there are no rules
Old 11-03-2005, 07:33 PM
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or build a race track is fine with me too
Old 11-04-2005, 01:49 AM
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Originally Posted by WarrenW,Nov 3 2005, 07:26 PM
How hard was this? How much work did it take to make it happen?

Warren
Warren, I think the hardest part is probably the "ownership agreement" process (after you find the tract of land). I know two couples who've done this and both of them are living on acreage tracts in Georgia. One couple jointly bought several hundred acres with a group of people. The group chipped in and built roads, etc. and each owner chose a tract of land to put their homes. The group jointly owns the riverfront area and the group chipped in for docks, etc. They set aside a large part of the acreage as a hunting/fishing preserve. Just like any privately owned community, all the owners have to chip in for maintenance/upkeep on the roads and community property. The other couple owns 15 acres outright (no jointly owned areas) and they chipped in with several other people to buy a few hundred acres which they divided into tracts and sold to whoever. If you have a friend/member of the board who either does real estate development or practices real estate law, it would be good to get some of the mechanics squared away in your mind. Friends can become bitter enemies if they don't understand what is involved in a "group buy" of land. Another thought: There are a couple of attorneys on the Vintage Forum and if you put a thread out over there, one of them will probably be happy to give you some food for thought.
Old 11-04-2005, 02:05 PM
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If agreeable people can get together and do the decent thing, I am sure things will work out. Clear understanding on what to expect will be helpful. 5 acres for 10 people sounds like a good deal. I wonder how much that will be.
Old 11-05-2005, 02:02 AM
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Warren... I can help you on this if you are really interested. Ill pm you this afternoon.
Old 11-05-2005, 05:35 AM
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A great idea, but I doubt you will find an available tract of land within 100 miles of DC or Baltimore to buy. Development is crazy around this area. Now if you were thinking WV, you might have a shot at it.
Old 11-05-2005, 10:48 AM
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if the price is right, i'm IN! i been wanting to do this with some of my friends, but they turned out to be too cheap.
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