#174 - First Time Land Buyer Series: The Complexities of Buying Land From a Corporation with Mike Kuhlkin
Description
Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals.
On today's episode, we are back in the studio to talk with Mike Kuhlkin. We discuss:
- Mike shares his journey to land ownership
- He’s a pastor in Perry, NY, with a passion for hunting
- After years of borrowing and leasing, he bought property
- Family dynamics influenced his desire for land ownership
- They leased property for 10 years while getting finances in order
- A move to the Southern Tier changed their financial situation
- They sold their home, gaining $50,000 profit
- They followed Dave Ramsey's financial principles
- In 2017, they found a 20-acre property listed for 10 years
- They made a lowball offer of $50,000, which was accepted at $57,000
- The property had a history as a gas consolidation site
- Closing took several months due to legal and environmental issues
- They financed the property with a 15-year adjustable-rate mortgage
- The challenges of building on landlocked property
- They’ve started habitat management and farming on their land
- The experience has exceeded their initial hunting-only expectations
And so much more!
https://www.whitetailmasteracademy.com
Use code 'HOFER' to save 10% off at www.theprairiefarm.com
Massive potential tax savings: ASMLABS.Net
-Moultrie: https://bit.ly/moultrie_
-Hawke Optics: https://bit.ly/hawkeoptics_
-OnX: https://bit.ly/onX_Hunt
-Painted Arrow: https://bit.ly/PaintedArrow
United States
