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Bill Oelrich

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About Bill Oelrich

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  • Birthday 05/08/1973

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  • Location:
    St. Paul, MN
  1. Thanks for the input so far. I posted this reply on another forum: For me the cost of entry now days is too great. I wish, like we all do, that I could turn the clock to when you could buy a piece for a price you can justify with that cost/benefit equation. My grandfather bought 96 acres in 1965 for $2000. The land next to us just sold for 1500/acre. That puts hers at roughly 150,000 to buy now. Decent appreciation over 50 years. But my grandmother has been paying taxes to the tune of at least $1000 for that last 20 years, plus the first thirty years. That doesn't count the interest paid if you finance and then subtracting capital gains. Interest of course is the big drain and I don't trust that the government will keep that mortgage interest deduction in place. So do you really make money? I can't convince myself of that anymore. We sold our cabin because once you added all the holding cost and maintenance and then divided it by the number of times we went up there, it is less to go to resorts and not do any work. I recently read Warren Buffets letter to his shareholders (don't ask why, I am not a financial mind) and this line was on the first page: "Over the last 48 years (that is, since present management took over), book value has grown from $19 to $114,214, a rate of 19.7% compounded annually." That is if you owned one of his Class A stocks, just one. Made me go Hummmm. Thanks for the input.
  2. I am curious about how the outdoor crowd feels about recreational land. I used to think ownership was the only way to go for a cabin on the lake, hunting land, etc, but I have changed my tune over the years. We sold the lake cabin and now prefer to hit resorts when we head north. Which situation would you rather have prefer: 1) own 120 acres of land 2) own a cabin on a lake next close to whatever public land you like to hunt/explore 3) rent 10 to 15 acres on a logging/forest road inside of one our state forests? 4) rent a cabin on a lake close to whatever public land you like to hunt/explore 5) rent a small piece on lake where you could camp close to whatever public land you like to hunt/explore or 6) rent 160 acres you have all to your hunting party? The kind of rentals I am talking about are long-term (1 year) so it seems a little more like ownership for comparison reasons. How often would you go to the property? What is you choice? Just curious how people feel. Thanks, Bill
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