The term "real property" is meant to distinguish between land and other real estate and personal property which includes cars, clothing, books, etc. And, for the last few weeks Brenda and I have been looking for some real property in the form of undeveloped land we could purchase as an investment. That it could be used for deer and small game hunting was only a side issue (just kidding).
Inflation at about 2% per year will erode the value of cash according to "the rule of 72". At 2 % inflation the rule of 72 says in 36 years the purchasing power of $100 in cash will be only $50. Inflation tends to RAISE the value of real property and is a common hedge against inflation.
Fascinating eh?
Well that is the foundation necessary to explain why we were buying land anyway. The particular purchase has a spiritual aspect, which is why I am telling you about it.
By "chance" at chruch I mentioned to one of my friends that we were looking for some land. He quickly volunteered that there was some land right next to his Wife's family's land that was close by (one of our requirements) that was for sale. He gave me the owner's name, and I quickly called her.
She had 50 acres, and yes it abutted Annette's family's place, and also adjoined the Sipsey Forever Wild land (about 24000 acres of land protected against any development and open to the public). Unfortunately a young man had already expressed interest in buying it and she had agreed to sell it to him. "Oh well", I said, "if anything falls through, please consider me highly interested."
The land sounded uniquely suited for what we wanted, the price was the best we had seen, and the ONLY hitch was that it was already spoken for. So, that night I prayed, "Dear L^rd, if you want us to have that land, it's in your hands. We will be happy regardless."
So, about 4 days later, on Saturday, I get the call. "The young man who was going to sign the contract just called me. He just got engaged and his fiancee told him that she didn't want that much debt starting out. So the land is yours if you still want it."
Wow, thank you L^rd!
And that led to us getting stuck, which you may have read about in the last 2 posts.
Well, the deal ain't done yet...
Inflation at about 2% per year will erode the value of cash according to "the rule of 72". At 2 % inflation the rule of 72 says in 36 years the purchasing power of $100 in cash will be only $50. Inflation tends to RAISE the value of real property and is a common hedge against inflation.
Fascinating eh?
Well that is the foundation necessary to explain why we were buying land anyway. The particular purchase has a spiritual aspect, which is why I am telling you about it.
By "chance" at chruch I mentioned to one of my friends that we were looking for some land. He quickly volunteered that there was some land right next to his Wife's family's land that was close by (one of our requirements) that was for sale. He gave me the owner's name, and I quickly called her.
She had 50 acres, and yes it abutted Annette's family's place, and also adjoined the Sipsey Forever Wild land (about 24000 acres of land protected against any development and open to the public). Unfortunately a young man had already expressed interest in buying it and she had agreed to sell it to him. "Oh well", I said, "if anything falls through, please consider me highly interested."
The land sounded uniquely suited for what we wanted, the price was the best we had seen, and the ONLY hitch was that it was already spoken for. So, that night I prayed, "Dear L^rd, if you want us to have that land, it's in your hands. We will be happy regardless."
So, about 4 days later, on Saturday, I get the call. "The young man who was going to sign the contract just called me. He just got engaged and his fiancee told him that she didn't want that much debt starting out. So the land is yours if you still want it."
Wow, thank you L^rd!
And that led to us getting stuck, which you may have read about in the last 2 posts.
Well, the deal ain't done yet...
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