He didn't stipulate a long term investment.
6-12 months.
And then he asked which town(s) around the lake.
People chimed in with stock and bond index funds - valuable plays but not what he even inferred - and then went off a tangent about long term investing.
A 6-12 month investment in property somewhere around the lake creates a hefty acquisition/carry cost. Will the expansion of valuation cover the acquisition/carry cost and provide a return? Hard to tell.
He would need a property that is in high demand with few other competing parcels.
Belmont, where I live, has open parcels - even some large ones - but we have also seen some of the developments sit idle for years and looking for buyers.
The Gilmanton property I got at a very good price - paid less than 50% of assessed value - and placed in CU II for seven years. I made money, but not sure that I couldn't have done just as well being in stocks. A lot less paperwork and I could have hidden it in tax-deferred accounts.
But he didn't ask if stocks were a better long term investment.
Raw land as a short term passive investment - at least in my experience - is very fickle. Active investors - like developers and builders - seem to do much better.
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