Quantcast
BillyLand - Homesteading Today
Homesteading Today

Come enter the Lehman's Aladdin Lamp Giveaway - Last Day to Enter!

Go Back   Homesteading Today > General Homesteading Forums > Homesteading Questions


Reply
 
LinkBack Thread Tools Rate Thread
  #1  
Old 07/13/04, 12:12 AM
 
Join Date: Jul 2004
Location: Austin, TX
Posts: 28
BillyLand

Hey Y'all,

Check out this specific link www.billyland.com/auction/mo03b.htm.

I put a down payment on this land today. I feel I might have done something stupid though. Do you guys think it might be a scam? Maybe the photos are not of the property I think I'm buying. Maybe I'll find out I'm buying this property falsely in some way and after I put out x amout of money I finally realize I'm not going to get the deed. The "agreement" is to be here via FedEx by Fri. I don't know a ---- thing about buying land I just know I want it, I need it, I have to have it NOW! NOW! NOW!

I REALLY want some input from you guys on how to proceed with this situation I've got myself into. I'd love to own about 9 acres in the Ozarks and this property is near the home town of Laura Ingles Wilder (quaint huh?). I figured I could pasture a couple cows and horses on the adjacent properties until they were sold to someone else or I bought them. I don't think there would be any or many zoning restrictions. An aerial photo of the town looks pretty rural. I should probably check to see where the nearest military base is and if there are an plans to build a chemical factory and/or dump down the street. It's in a "development" but I thought I could like take over the property owner's assoc and hand out packets about enviromentally friendly building to people looking at the properties around me. Maybe I'd scare them off or maybe I'd convince them to contribute to a healthy neighborhood.

What to do, what to do? Input from someone older and wiser than my 22 yrs?

- Ginger

__________________
Reply With Quote
  #2  
Old 07/13/04, 12:40 AM
 
Join Date: Jan 2004
Location: MN
Posts: 6,915

I haven't looked at the web site yet, but:

Laura Ingles Wilder grew up about 40 miles west of me in Minnesota on Plum Creek, not the Ozarks?????????

A developers association? I'd sure want to know what their & my obligations are on such a thing before forking out any money. They control your land & what you can do with it, while you pay them a fee to do so. Most of the time.

I paid $475 for a siderake sight unseen, and even tho the seller was a nice guy & is trying to work with me, I'm out the money & 2 months later I have a worthless hunk of metal in my yard, the manual sucked, the wheels were backwards, a few bolts were lost in shipping' and I had to spend $100 fixing up my old rake so I could get my hay in with one extra rain on it.... And again, this is with a seller who is trying hard to make good, & fix the issues & problems at his expense. He's still trying, but it's very frustrating for me.....

I sure wouldn't blow any money on something important from people I don't trust, I haven't seen, and I haven't read the fine print on. But I think you know that - we all should.

Good luck. Have fun with it. Maybe it's worth something.

--->Paul

__________________
Reply With Quote
  #3  
Old 07/13/04, 01:00 AM
 
Join Date: Jan 2004
Location: MN
Posts: 6,915

Ok, so 'Billy' is selling land in Missouri, but his address seems to be in NM????

You are buying less than 9 acres with gravel raod access. Period. That's it. You will pay almost $20,000 for this, or more than $2000 an acre. Sure sounds like a lot for land that has no present value or use.

Will you be able to find water on this property? Drinkable water?

How much is 'minimal' expense to bring the electricity in 2 plus miles from the tarred county road? Up here it would cost $12-20,000 per mile to run the electric. Will you foot that bill & let others tap off it, or will the association foot the bill & charge you, or ???????

Can you run a septic system on the property? Is it garrenteed to be buildable????

Why is one bidding on the downpayment amount, but the land price is set? Seems like an odd arrangement....

Me thinks 'billy' is hoping to get a lot of non-refundable $99 payments after people come to their senses, and resell these lots many times over.

--->Paul

__________________
Reply With Quote
  #4  
Old 07/13/04, 01:00 AM
 
Join Date: Jul 2004
Location: Austin, TX
Posts: 28
http://www.lauraingallswilderhome.com/main.htm

The Chamber of Commerce says Lausra I. Wilder lived here???????? Never read the books but watched "Little House on the Prairie" with awe as a 10 yr old.
__________________
Reply With Quote
  #5  
Old 07/13/04, 01:01 AM
RobinAnn's Avatar  
Join Date: Apr 2004
Location: Kline, CO
Posts: 75
Quote:
Originally Posted by rambler
I haven't looked at the web site yet, but:

Laura Ingles Wilder grew up about 40 miles west of me in Minnesota on Plum Creek, not the Ozarks?????????
LIW and her husband moved to Mansfield, MO for Almanzo's health. They started an apple orchard there.
__________________
Reply With Quote
  #6  
Old 07/13/04, 01:11 AM
Unregistered
Guest
 
Posts: n/a

I dout it's a scam because of the price (pretty high for this part of country) I live just alitte south of that property. Don't worry about any army bases or toxic waste dumps. It's just some old farmers pasture that is worth about 1000 to 1200 an acer that there are trying to subdivied and make a little more on. But if it is what you like go for it. Its location is good if you need to work in a big city. 60 hwy is 4 lane all the way into Springfield. And if you have horses they must be foxtrotters. It's the law in Douglas county. The national foxtrotters association fairgrounds are just down the road from you.
Here's a word of advice thats not meant to be rude but it should be considerd whole heartedly. Are area here ( douglas and ozark county) is having a population boom of out-of-staters and most of us hate it. So if you do move here don't try telling other people how to live or do certain things. A property owners association won't fly here, thats a fact.
Most nieghbors here are the best anywhere. They will help you out in a heart beat, But they also want to be left alone. And alot of use like to just keep to ourselves other than church and hootin and hollern days.
If you have any ? just ask.
good luck

__________________
Reply With Quote
  #7  
Old 07/13/04, 01:16 AM
 
Join Date: Jan 2004
Location: MN
Posts: 6,915
Quote:
Originally Posted by madmarchie
http://www.lauraingallswilderhome.com/main.htm

The Chamber of Commerce says Lausra I. Wilder lived here???????? Never read the books but watched "Little House on the Prairie" with awe as a 10 yr old.
Cool web site! I knew she was born in Wisconsin. I visited her Walnut Grove & South Dakota stomping grounds, & knew they made a brief stop in Iowa. I did not realize she settled in Mo. Thanks.

Was pretty cool to have my home town & the surrounding area mentioned on the TV series every so often when they went visiting to the east. I enjoyed the TV show as well, tho haven't read the books.

--->Paul
__________________
Reply With Quote
  #8  
Old 07/13/04, 01:25 AM
 
Join Date: May 2002
Posts: 204

Ditto what Rambler said! And I'm too lazy to figure it out, but I'm guessing that the interest rate is a little steep, too.

You're probably best off saying goodbye to $99, a fairly cheap lesson in life. Don't feel bad, though, probably 99% of us here have blown more money on dumber things. I know I have!

You're only 22? Save your pennies and you'll soon have enough for a down payment on property more suitable. It's also much safer to have your mortgage with a real bank than one of these shady land companies.

__________________
Reply With Quote
  #9  
Old 07/13/04, 01:33 AM
 
Join Date: Jul 2004
Location: Austin, TX
Posts: 28
Quote:
Originally Posted by shakeytails in KY
Ditto what Rambler said! And I'm too lazy to figure it out, but I'm guessing that the interest rate is a little steep, too.

You're probably best off saying goodbye to $99, a fairly cheap lesson in life. Don't feel bad, though, probably 99% of us here have blown more money on dumber things. I know I have!

You're only 22? Save your pennies and you'll soon have enough for a down payment on property more suitable. It's also much safer to have your mortgage with a real bank than one of these shady land companies.

Will they go find another sucker or should I e-mail or snail mail they saying I'm pay 2/3 that price over x amout of time for x amount interest? Negotiate. See what happens.....

- Ginger
__________________
Reply With Quote
  #10  
Old 07/13/04, 05:53 AM
 
Join Date: May 2003
Posts: 84

Billyland sells alot of property on Ebay.

My husband and I bought our South Dakota 80 acres from MC Land who are also on Ebay. We got the agreement by FedEx. So far everything is ok. No we didnt look at the property first, just the pics. We are paying $29,995 for our piece of property and the reason why its so cheap is because it is raw land and its all prarie which is what we wanted. I think Billyland is kinda high in their prices but then again I dont know where most of the properties are.

My husband and I have come to terms that if, God forbid, we do get screwed, it will get chalked up to a life lesson, but we really dont think so. Everything we have researched and checked has turned up to be ok.

Good Luck!!!!

JessicaCat

__________________

Found our 10 acres + 70 more!!!

Reply With Quote
  #11  
Old 07/13/04, 09:21 AM
SteveD(TX)'s Avatar  
Join Date: May 2002
Posts: 5,241

Land looks pretty. Too bad there are no pictures of the actual piece that you bought. Are you sure there is a decent building site on the lot? Do you know that the land will perc? How deep to good water? Restrictions?

It's been my experience that land like this is sold in this manner, because usually it is the only way it can be sold. Extremely high rate of interest, owner financing with no qualifying, etc. I'm not saying that you definitely were scammed. Hey, land is land, right? But there's a good chance that you won't be able to sell it for anywhere near what you paid for it, should you want or need to some day. Good luck, and my advice to anyone is look before you leap.

__________________
Reply With Quote
  #12  
Old 07/13/04, 09:27 AM
AngieM2's Avatar
Site Admin
HST_ADMIN.png
 
Join Date: May 2002
Location: N. Alabama
Posts: 41,632

This land looks and sounds like some land originally purchased from www.ozarkland.com (neil shelton). If you can find Fiolomark, online here. He has 12 acres he bought in that part of the country.

Also, I've looked at land there about 2 years ago and there are some houses on the land, there is water, but you would have to dig a well, and the roads in the "subdivision" is just gravel.

The only reason I did not go for the land, is I still work here and have family that I want to stay close to, and this land is 6 hours away.

I did see the house in Mansfield where Laura Ingells Wilder wrote the Little House books, it's very nice.

Check out the ozarkland site, I think you'd be better off.

Also if you mention this down in Country Families, you will fine Mark and one or two others that have bought from Ozarkland.

AngieM2

__________________

Big porches, little houses and trees!

Reply With Quote
  #13  
Old 07/13/04, 09:28 AM
Cyngbaeld's Avatar
homesteader
 
Join Date: May 2004
Location: Between Bryan and Austin, TX
Posts: 27,878

Why don't you take a run up there ? It isn't that far. You can take a tent and camp on the land while you are there. Also remember that smaller parcels of land cost more per acre. The interest rate is a bit much tho. If you like the property you may be able to get a mortgage loan from a bank or mortgage company for a more reasonable rate. You also should find out what kind of deed they are planning on and check with a title company in the area. And while you are up there maybe talk to a realtor in the area about prices of land. That will help you decide if it is something you really want to do. And find out how far the power, water, phone is and what you need for a septic if required etc. Possibly by the time you are ready to build all those things will be pulled in closer.

__________________

I believe in God's willingness to heal.

Cyngbaeld's Keep Heritage Farm, breeding a variety of historical birds and LaMancha goats.

Reply With Quote
  #14  
Old 07/13/04, 09:45 AM
Terri's Avatar
Singletree Moderator
HST_MODERATOR.png
 
Join Date: May 2002
Location: Kansas
Posts: 11,835

I have driven near the area. There is a lot of land for sale in the Missouri Ozarks, most of it is lovely, and it is not expensive. There are few jobs in the area.

I suspect that this is on the level. Mind, I don't KNOW that it is on the level, but I suspect that it is. The price is a little on the high side for the area, but not outrageously so.

My honest opinion?

Go and see it. Speak to the water company, the electric company, and the zoning office. Find the land, and visit the local towns. Do not be quick to give advice to the locals, on anything. The people not too far away seem to be reluctant to offer advice, so you should be slow to ofer advice also.

Like I said, the land is somewhat expensive for the area, but much of the area is beautiful. You might just fall in love with it and decide that it is worth it.

__________________
Reply With Quote
  #15  
Old 07/13/04, 10:05 AM
 
Join Date: Dec 2003
Posts: 289

I don't know the first thing about buying land but if I was in a position to, I would probably plunked down anything to live down the street from L.I.W.'s home. I visited the museum there last year and it's a very inspirational place if you've read her writings. Hope all goes well!

__________________
Reply With Quote
  #16  
Old 07/13/04, 10:06 AM
 
Join Date: Dec 2002
Posts: 528

Don't be so sure about there being "few or none" restrictions. Properties usually don't need a homeowner's/development association unless there are lots of restrictions. You may not be able to have any livestock, may be required to build a certain size home with certain materials. Something to find out about. "Development" is the word to watch. You are buying into a subdivision made up of acreage instead of small lots.

12% interest right now is very high. Most of the owner financed land around us is being financed at 7%-8%. The difference in payments for 10 years and 20 years is not much. I would negotiate a shorter payout.

You might need to find out if you can put a temporary house on this property while you build. Around here, some of the developments allow it for up to a year and some don't allow it at all.

__________________
Reply With Quote
  #17  
Old 07/13/04, 10:22 AM
 
Join Date: Mar 2004
Posts: 224

..

__________________

Last edited by dbthomas; 07/19/06 at 01:05 PM.
Reply With Quote
  #18  
Old 07/13/04, 11:07 AM
Terri's Avatar
Singletree Moderator
HST_MODERATOR.png
 
Join Date: May 2002
Location: Kansas
Posts: 11,835

It is possible that you could refinance through a bank, or decrease the amount of interest paid by paying off early. You might like this site.
http://www.home-mortgage-loan-compan...arly_payo.html

__________________
Reply With Quote
  #19  
Old 07/13/04, 11:44 AM
In Remembrance
 
Join Date: May 2002
Location: illinois but i have a homestead building in missouri
Posts: 1,436

Yeah Billyland looks like a poor relation to Neil at Ozarkland.com and it does look like a nice piece of land but the price does seem a bit high even for a no money down deal. Utilities wouldnt be a big deal and water shouldnt be a problem other than drilling a well. What really bothers me though is that this place is laid out like a subdivision. All those odd shaped lots in what looks to be an old pasture. Got a few trees but not enough to create any privacy. Granted 8 acres is a decent bit of ground in a forest but its nothing at all in a wide open field like this one. Granted you may never have many neighbors but you never know. Good luck with it. I dont think its a scam, but it wouldnt be my first choice. Just a little too much like a subdivision on the edge of town to suit me.

__________________

FolioMark

Mus uni non fidit antro. ~ A mouse does not rely on just one hole.----Plautus

Reply With Quote
  #20  
Old 07/13/04, 11:52 AM
 
Join Date: Sep 2003
Location: Missouri, Springfield
Posts: 1,730
billyland

can't vouche for Billyland as I've never delt with them. But I know a lot of people like neil sheldon at ozarkland.com

I bought the parcel I'm selling from Ed Johnson at starlake investments on ebay. But I live close enough I drove down and had a look at the property first. He's been a real help on all counts and a standup guy.

12% seems rather high to me also. Ours is 9.75% and I though that was a bit high.

If you do decide to look for something else let me know. As I say I'm selling my parcel (moving next year out of state). I've got it listed here on the board and you would be paying directly to Ed. PM

__________________
Reply With Quote
  #21  
Old 07/13/04, 01:24 PM
 
Join Date: Jun 2004
Location: Danville,AL
Posts: 198

It says 12% simple interest correct me if I'm wrong but I thought simple interest was 12% one time and not compounded every year if this is true the interest would be very very cheap.

__________________
Reply With Quote
  #22  
Old 07/13/04, 02:20 PM
DAVID In Wisconsin's Avatar
 
Join Date: Dec 2002
Location: Wisconsin & Mississippi
Posts: 1,895

Tractorman,
Simple interest would be 12% interest on the unpaid balance per year.

__________________
Reply With Quote
  #23  
Old 07/13/04, 02:30 PM
Unregistered
Guest
 
Posts: n/a
My two cents

I researched various real estate opportunities from northeastern Oklahoma through southern Missouri and western Arkansas. Those wishing to homestead would be far better getting a place with live water and decent soil. Drilling a well in that part of the country will likely cost you at least $10 -$15/foot, as you get into rock immediately and they have to use expensive bits. Hopefully you can find a shallow table, as I had to go 355ft.

The soil in that part of the country is extremely rocky and unsuitable for any agriculture unless amended. You can buy good bottomland soil in western Arkansas for $1,000 - $1,500/acre in smaller parcels near or with live water.

Good Luck!

__________________
Reply With Quote
  #24  
Old 07/13/04, 02:43 PM
Terri's Avatar
Singletree Moderator
HST_MODERATOR.png
 
Join Date: May 2002
Location: Kansas
Posts: 11,835
Quote:
Originally Posted by Unregistered
I researched various real estate opportunities from northeastern Oklahoma through southern Missouri and western Arkansas. Those wishing to homestead would be far better getting a place with live water and decent soil. Drilling a well in that part of the country will likely cost you at least $10 -$15/foot, as you get into rock immediately and they have to use expensive bits. Hopefully you can find a shallow table, as I had to go 355ft.

The soil in that part of the country is extremely rocky and unsuitable for any agriculture unless amended. You can buy good bottomland soil in western Arkansas for $1,000 - $1,500/acre in smaller parcels near or with live water.

Good Luck!
There is a LOT of agriculture in the Missouri Ozarks. The soil is not as good as in the Midwest, but the natives seem to think that it can do the job.

There is also a reasonable amount of ponds and creeks.

It just all depends on the land that he has bought. It might be good, it might not be. The wells might be deep, or they may not be.

There is no way to know until he actually sees it. And, I ALSO hope that he has a fairly shallow water table, because $15 a foot for a well is the going price out here, too.
__________________

Last edited by Terri; 07/13/04 at 02:45 PM.
Reply With Quote
  #25  
Old 07/13/04, 03:26 PM
Banned
 
Join Date: Sep 2002
Location: Dyersville, Iowa
Posts: 2,825

I think if this fellow is upright and from the feedback on Ebay it seems he is; this may be a good deal.
Now the prices are higher than bank financed places & so is the interest but if you are young, have had credit troubles(even if they're now cleared up) or don't have provable income(some self employed have this problem) then how else do you get started? If regular banks & credit unions only look at the 'big picture on a credit report lisitng mistakes up to 10yrs old' and turn you down it's either spend another 5-10 yrs paying rent(with nothing to show at the end) or pay a little extra in interest but at the end of 5-10 yrs you could own your property outright.

It's not for everyone true, but for a certain segment it may just be the starting point to a homestead.
Just my humble opinion.

Good luck to those who are using this or any other company financed land company-you are at least making headway on reaching your dreams.

Blessings,
Kathy

__________________
Reply With Quote
  #26  
Old 07/13/04, 03:49 PM
PITA
 
Join Date: Aug 2003
Location: Zone Unknown
Posts: 1,265

What Terri said.

But it all depends on what part of the Ozarks you're in --- and bear in mind, not ALL of Missouri (or Arkansas or even Oklahoma) is the Ozarks.

It's very rocky where I am, but everyone around here (except me with my little 10x10 patch ) grows huge gardens. The climate is perfect for it -- hot and humid. It's VERY lush here. We don't grow wheat , but we grow just about everything else. Berry and peach *farms* are very common in this area, as are huge gardens with corn, tomatoes, etc.

My dad's side of the family had a berry farm in SW Missouri for a long time. They made out alright.

And where I am, the water table is very high. Not to mention, most properties in this area already have wells on them --- I have two already --- so the need to drill one is going to depend on exactly where you go. Just make sure, if there's a well already, it isn't sulfur water!!

Quote:
Originally Posted by Terri
There is a LOT of agriculture in the Missouri Ozarks. The soil is not as good as in the Midwest, but the natives seem to think that it can do the job.

There is also a reasonable amount of ponds and creeks.

It just all depends on the land that he has bought. It might be good, it might not be. The wells might be deep, or they may not be.

There is no way to know until he actually sees it. And, I ALSO hope that he has a fairly shallow water table, because $15 a foot for a well is the going price out here, too.
__________________
Reply With Quote
  #27  
Old 07/13/04, 06:09 PM
 
Join Date: Jul 2004
Location: Austin, TX
Posts: 28

Thanks for the input everyone! I've made a more informed decision thanks to your help!

- Ginger

__________________
Reply With Quote
Reply



Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 10:45 AM.