Does Cheap Land Still Exist?

There is a trend I have seen building in my state. No, it isn’t associated with pop culture, fashion, or entertainment (quite frankly, I don’t think I could spot a trend in those areas), it is a trend to find rural land. Several of my friends have stopped me at various random encounters and asked, “Troy, do you know of any old farms or larger tracts of land that are for sale?” I usually answer that I am not aware of any at the moment, but I will keep and eye out for some in the future and that is where the conversation usually ends. I end up walking away thinking what is the purpose of this specific person wanting rural land? They aren’t going to leave the city and move out to the country, are they?

I have two videos on the channel that talk about this very subject. The first video (link here), detailing how we were able to buy our property so cheap, was released over 6 months ago and has recently spiked in traffic and interest. The second video (link here) offers advice on how to use tax data to find potential land that may not yet be listed for sale. Both of these video discuss cheap land. Both are based off of my personal experience. Many questions and comments have popped up recently pertaining to those two videos but the number one question is “Do tracts of land available at that price still exist today?”

Granted, as the years pass costs of everything go up. Inflation drives the price of everything. However, cheap land still exists simply because there will always be people who own land deciding they don’t want to own it any longer and do not have the patience to wait for the offer they want. It’s out there. It just needs to be found.

One key piece of advice that I suggest above all others is if you want cheap land, prepare to lower your expectations. That sounds incredibly motivating, doesn’t it? Not something you usually hear unless you are talking to your best friend about your plans to marry a super model. Expectations are supposed to be set high and kept high for quality and satisfaction purposes – don’t settle for less. Buying a car? How about the restored Yugo you saw on eBay for $3K? Why not? it has been restored, right? Going on vacation? The condominium with the 1970s decor that is 3 blocks from the beach will work fine. Who needs beach-front anyway? The exercise will be great.

Settling doesn’t make sense any other time, so why am I suggesting you settle when it comes to land? Settling for less when it comes to land purchasing can help keep you within your budget as well as allow you to have extra cash to invest in improvements and infrastructure. Now, don’t get me wrong. I am not saying buy 60 acres of mountain side with a 60 degree slope. The land must be improvable. What I am saying is look for the diamond in the rough. Look for something that has good bones but has an ugly exterior. Find something the previous owners totally neglected and are even embarrassed to show it to you. This is where the great deals can happen.

My brother purchased a 130 acre farm 20 years ago. It had 10 or more structures on it that where falling over or in other various states of disrepair. It had an old tobacco barn that was only standing because all the termites in the posts must have been holding hands. It had a farm house with so many holes in it, he put 200 tubes of caulking in the house just to try to keep the wind from blowing through it during the first winter. The house had settled so much and was so un-level, you could place a soda can on the kitchen floor and it would roll, unassisted, through the dining room and into the living room. The farm even included a very ill-tempered rooster, a Pekinese dog that had to have been 40 years old, and a 45 year old man that had been a foster child on the farm and never left. He didn’t want to leave even after my brother bought it. True story!

My brother looked through all of this white-hot mess and saw the potential the land had to offer. The owner knew the land was a mess and was very agreeable as my brother negotiated a substantially lower price than asked. Unfortunately (or fortunately if you want to work) there is a ton of neglected and abused land all across the country. You just have to take the time to find it.

You need to look for cheap land like you would look for a cheap price on an antique car. Your not going to get a full restore 65 Mustang for $3K for you may find one with some large rust holes that doesn’t run and doesn’t have seats for that price. You just have to decide if you are ready to take on the restoration project. So, if you want to start looking for land in your area, take a Sunday afternoon and drive around on back roads out in the country. You will find some rough or abandoned land that wont be listed for sale. Start knocking on doors and asking questions. You could find some incredible land under weeds, old buildings, and trash. Just be ready to work!