BUYING LAND FOR WHEN SHTF

[OutBackBrett]

Im located in South Australia and have been jotting stuff down on paper for years about what i need to do in a SHTF time and i have finally decided to take my years of ideas and start making them happen so on that note i am looking for like minded people in South Australia who would be interested in looking at possibly if all goes well teaming up and setting up some land for when the so said time happens. This is all still on paper stage but really interested in getting something going. As for money side of things to buy land i was leaning towards vendor terms and paying it off if there is afew people interested in getting involved in doing it. So we each would end up with a slice of our own pie so to speak

 

[Frostbite]

This plan rarely works out well. Too many disagreements about some members not pulling their weight or no concensus over how to proceed with group infrastructure like access roads, dams, fencing, weed control, fire hazzard reduction etc. I've owned a few rural properties, still own 2, and it's never easy getting neighbours or joint owners to contribute.

Go it alone if you can, bearing in mind most banks won't lend on vacant rural land unless it is under a certain size, has sealed road frontage and power connected.

 

[OutBackBrett]

This plan rarely works out well. Too many disagreements about some members not pulling their weight or no concensus over how to proceed with group infrastructure like access roads, dams, fencing, weed control, fire hazzard reduction etc. I've owned a few rural properties, still own 2, and it's never easy getting neighbours or joint owners to contribute.

Go it alone if you can, bearing in mind most banks won't lend on vacant rural land unless it is under a certain size, has sealed road frontage and power connected.

thank you for your input yes i can see how things can go pear shaped with regards to doing things i was just throwing the idea out there to see who if anyone came along that mite be on the same train as me with what i wanted to do, but if it turns out that i must do it alone then so be it.

 

[rainingcatzanddogs]

I would get the nitty gritty that @Frostbite suggested out of the way first if you want to get people to go in. Otherwise, what you are essentially saying is "let's pool our money and we will work out the details of how it all works later". There are a lot of legal issues to consider, so you need a solid plan to work from.

 

[Frostbite]

I'll give you an example of what happened at one of my properties.

It's a private property with good river frontage, but there's several km of dirt track to reach my cabin. That track provides access to three other properties, only 1 of which has someone living on it. Several years ago the track washed out, and there was a 3m shear drop where the track once was. There was no way over or around it. The 4 owners affected couldn't agree of how to repair it. One wanted an expensive job, one wanted a cheap job, myself and one other didn't care, just wanted it fixed so we could access our property. The situation stayed unresolved for 18 months until I paid to have it fixed myself. Only one of the other owners reimbursed me his share. The richest owner, a surgeon, never gave me a cent. The situation came about partly because nobody took responsibility for clearing the pipe that ran under the track.

If you want to enter a shared ownership arrangement, perhaps have a strata type arrangement where each owner pays a yearly fee into a maintenance fund. That won't resolve the issue of reaching concenus on how to fix a problem, but at least everyone will have contributed financially to the resolution.

 

[OutBackBrett]

I'll give you an example of what happened at one of my properties.

It's a private property with good river frontage, but there's several km of dirt track to reach my cabin. That track provides access to three other properties, only 1 of which has someone living on it. Several years ago the track washed out, and there was a 3m shear drop where the track once was. There was no way over or around it. The 4 owners affected couldn't agree of how to repair it. One wanted an expensive job, one wanted a cheap job, myself and one other didn't care, just wanted it fixed so we could access our property. The situation stayed unresolved for 18 months until I paid to have it fixed myself. Only one of the other owners reimbursed me his share. The richest owner, a surgeon, never gave me a cent. The situation came about partly because nobody took responsibility for clearing the pipe that ran under the track.

If you want to enter a shared ownership arrangement, perhaps have a strata type arrangement where each owner pays a yearly fee into a maintenance fund. That won't resolve the issue of reaching concenus on how to fix a problem, but at least everyone will have contributed financially to the resolution.

Ah thank you so much for that bit of info yes i see how my idea can become a bloody nightmare quickly. starting to think that i will go it alone and i do thank everyone for there replies

 

[Arcticdude]

I've had partners in gold mining property's before and it worked out fine. Many times (most?) property partners, shared roads etc do not work out. If you are going to partner with someone, make sure you get every detail worked out first. And have a lawyer write it up, and have all parties sign it in front of the lawyer.

 

[M0del_31]

Its too late for me at this point but if I had it to do over again, I’d just marry real old rich land barron woman and love her to death.

 

[DrHenley]

We have an easement on the access road to the BOL. The landowner refused to pay anything for the road maintenance, because he claimed he doesn't use it. Big fat lie, but it gives us near total control of the road and he is not tearing it up with farm equipment any more. Once we established control, it is in better shape than it has ever been. It was so bad at one time, I lost a muffler, and bent a drive shaft on that road. There were mud holes and ruts that were so bad I sometimes drove out into the muddy fields to get around them. I burned out a transmission one time trying to power my way out of a mud hole and sank a tractor up to the axle. Now you can practically drive a Corvette down it.

 

[Schattentarn]

These examples are why people for associations, elect board members, presidents, enact by-laws and so on. This means you have less control over your property but it also means one bad apple cannot poison the whole barrel.

 

[Dracos]

Some of you may have seen the survival retreat made out of an abandoned silo. I think the underground condos were sold for over a million dollars each. Made me wonder. What's to prevent the first group to arrive from locking the place up and posting 'No Vacancy' signs? I doubt threatening to sue would have much effect.

 

[David SB]

Highly disapprove of shared ownership unless it is with family.... and then it depends on the family.
If you have your eye on a tract of land that is larger than your budget, have a surveyor divvy up the land into sub-tracts, then go together and buy the entire tract with your combined funds, but make each sub-tract independently owned