The problem is that most people will never make good on the dream. Most people will just continue to dream, occasionally getting serious about buying a place, but usually just as quickly as they get motivated, they get frustrated and give up or postpone the dream until they figure out how to find it, or how to pay for it, or how to know they are getting a good deal, or whatever it is they don’t know that is holding them back. It is frustrating. I know, because about seven years ago that was me.

And just like the high dive, once you actually do it, you realize that it wasn’t as bad as you thought. In my case, it turned out to be easier than I thought. And most people, me included, can’t believe that they let fear or uncertainty keep them from doing something so enjoyable. I know. I kicked myself for years, because I allowed fear and uncertainty to keep me waiting so long to buy my little place in the country. In fact, I’m convinced that fear and lack of knowledge are without a doubt the two biggest obstacles to land ownership. At least they were for me.

In my part of the country, we have a chain of country style restaurants that are quite popular. To help pass the time while you wait for your food to come, they have these small “mind teaser” puzzles for on every table. The puzzles are pretty simple looking – a small triangle shaped piece of wood with holes drilled in them and golf tees in the holes. The objective is to jump the golf tees, .removing the jumped tees, until you have only ONE left. I am often amused watching people struggle to solve the puzzle. People who pick the puzzle up generally fall into two categories, 1) those who want to know how solve the puzzle and 2) those who are determined to figure out, completely on their own, HOW to solve the puzzle. While I know there is some personal satisfaction to the mental aspect of “solving” the puzzle, for most people they never get there. Their food comes and they lose attention. BUT, for those who simply want to know how to solve the puzzle, there is an easier way. In fact, the quickest way to know how to solve the puzzle is to ask someone who already knows how. I am amazed at how many people who dream of land ownership are very much like the puzzle people who are determined to figure it out on their own, especially since there are so many people who know how to solve the puzzle and are eager to share the secret.

Which one are you? Do you want to figure it out on your own, or do you just want to solve the puzzle? If you want to figure it out on your own, I’d suggest you put on a helmet. You’re going to be bumping your head. For those who just want the answer, it’s easy. Ask someone who’s done it before. Talk to your buddies, local farmers, investors, or anyone who owns land. Pick their brains. Ask about the process of buying land. Find out what went right and what went wrong. Get their opinion on the challenges they faced, the successes they enjoyed, and what they would do differently next time. You’ll find landowners are easy to find, easy to talk to, and easy to understand. They speak your language. They remember what it was like when they had their toes hanging off the high dive and they know how good it feels to finally summon the courage to jump in.

I’m amazed at how many people will go and look at land, having no idea what they are looking at, and buy it, having no idea what they bought, hoping they got lucky. Well I don’t want you to take that kind of speculative approach, where you hope you are doing the right thing or getting a good deal.

But, what is the process for evaluating land, once you find it? How do you know if it is worth your time to look further? What is the qualification process? How do you compare two similar or dissimilar tracts? How do you determine which tracts warrant further inquiry or elimination? What adds value to the tract? What ARE the things you need to evaluate?

We all put some value on “intangibles” when we evaluate land, even if we can’t put our finger on exactly what that means. It’s important. You have to like the way the land looks. You will be drawn to a tract for reasons you won’t completely understand. But, beyond the emotional or subjective criteria that all of us deal with, there are objective criteria that need to be both understood and analyzed, without emotion. I can’t help you put your emotions in check, but I can tell you that an objective look at characteristics will give you some grounding (pardon the pun) and keep you from talking yourself into a tract with warts on it.

Think about it this way, if you look at an acorn or a tadpole or a caterpillar what do you see? Do you see the potential for an oak tree or a frog or a butterfly? Being able to look at property and understand the characteristics helps you to understand what land IS, but more importantly it helps you better determine the potential in a property. From a purely financial perspective, remember this - Characteristics affect utility, and utility ultimately affects value.

In "A Practical Guide to Buying Land", I go into detail about characteristics, how to evaluate them, and what it all means to you as a land buyer and a land owner.  Read more about the series here.

Make sure you have clear objectives for your property.

It is easy to get caught up in generating revenue and lose sight of your overall objectives. While harvesting timber or selling any of the natural resources on your property has the potential to be financially lucrative, improperly done it can be aesthetically and environmentally devastating. Mistakes can be costly and take years to overcome. Focus on natural resources as part of your overall strategy. Let the overall strategy drive decisions about the resources and not the inverse.

Make sure you understand what you are selling.

Ignorance is expensive. And while the notion that landowners would sell their timber or mineral rights without knowing exactly what they own seems unwise, it happens every day. Less than knowledgeable landowners serve as easy pickings for less than scrupulous timber buyers. Here’s an area where you need to consider the help of a professional. It is not enough to know that you have timber or kaolin or coal. You need to know what it is worth. Different varieties of timber have different values, as do different types of coal or other minerals. Difficulties in harvesting or mining, distance to market, and restrictions that you as a landowner impose will all affect value. You can’t possibly know what you need to know. Hire a professional to properly and professionally assess the quantity and value of your natural resources.

Make sure you properly market your natural resources.

If you’ve never been involved in selling timber or coal or natural gas, your first attempt shouldn’t be a fly by the seat of your pants, “I’ll figure it out as I go along” experiment on your dream property or family farm. If you want to do this for a living, go get whatever certifications you need, get adequate education and training, and knock yourself out. If you want to do it ONCE on your property and be satisfied with the results, go find a certified professional forester, or consultant who DOES do this for a living and hire them to do it for you. They will be able to assess the market, find the buyers, conduct an auction or sealed bid or negotiated deal, manage the whole process, and do it (usually) for a percentage of the sale price.

Make sure you protect yourself and your land.

The only way to protect your property and your interests in any sale is to have a written contract. Here’s a good rule of thumb. If it isn’t written, it won’t happen. That goes for everything from pricing and access to how your property will look when the work is finished. Many timber (and other) buyers have standard contracts for you to sign, but if they don’t address your interests or concerns properly, then you should have your own contract drafted by an attorney familiar with this type of transaction. If the buyer won’t agree to your terms or sign your contract, find one that will. I don’t like surprises or misunderstandings. Simple clear and specific contracts avoid both.

Make sure you practice Good Stewardship.

Whatever you do with or on your property, make sure you do it with sound conservation and best management practices in mind. Be a good steward of the land. Take care of the land, and the land will take care of you.

Most of us think of real estate agents as the people who list and show property for sale. However, some agents specialize in representing buyers as they go through this daunting process, and they offer some valuable services that can make the process a lot smoother and must less frustrating that going it alone. A good agent can provide experience from having been involved in numerous land deals. They can be a voice of reason, when you get emotional. They can provide a buffer between you and the seller (or seller’s agent) during negotiations. They know the process and the key players, but most importantly, they bring the calm assurance that only knowledge and experience can provide. I never go into any real estate deal without a buyer’s agent representing me. You shouldn’t either.

But, how do you find a good one? Having a real estate license and being an experienced land buyer’s agent are far from the same. Not all real estate agents understand land and very few specialize in it. It’s important when acquiring land, that you are represented by an individual who understands the “product” you are looking to purchase. And, while many agents will claim to have land expertise, you want to find one who actually is an expert. Here are a few interview questions to help you know the difference.

How long have you been in the business and how long have you been licensed? They don’t necessarily need to have a real estate license for years. Experience with land is what is important. A great agent may be someone who has been a forester for 20 years and only recently obtained their real estate license.

Is this your full time job or is it a part time job? Many agents (more than you realize) work in real estate part time. Full timers are better than part timers because their ability to earn a living depends on being good at what they do. They only get paid when they successfully help someone like you buy some land.

Do you know the people I need on my team? In other words, do they know the local resources to help you evaluate and acquire your land? Do you know a forester, an appraiser, a surveyor? If they can’t name at least two professionals within each category, they probably aren’t active in the land business, and it might be best for you work with someone else.

How much land did you sell last year and how many transactions? I once had a guy tell me he did 9M in sales one year, and that he did 600 transactions. That turns out to be $15K per transaction. He wasn’t a land specialist. He sold builder close-out lots for a living. How could this guy possibly help you buy rural property? You want to work with someone who specializes in tracts that are the size you want to buy.

And finally, do you have references that I may contact? Keep in mind that they will only give you good ones but you’re not going to ask simple questions like…..Did you like him/her? Was he/she nice? You want to ask some specific questions that will let you know if the agent is good at what they do. Questions like…. did the agent get you connected with the professionals you needed? Did they walk the land with you? Would you use him/her again?

Make sure that somebody knows where you are going and who you are going with. Give them a map with specific locations, provide names and phone numbers of anyone going with you, and provide an approximate time for your return. And, always carry a cell phone with you. Cell coverage is often spotty in rural areas, so you may not always be able to make a call from the woods, but cell coverage or not, I can guarantee that you won’t make a call in the woods from a cell phone you left in your truck.

Don’t Get Lost. Carry a compass with you and know how to use it. Handheld GPS systems are good to have, but batteries can go dead in a GPS. Batteries never go dead in a compass. The only thing worse than getting lost in the woods is spending the night in the woods because you got lost in the woods, and didn’t have a compass to help get you out. Always carry a compass.

Watch out for Creepy Crawlies. As alluring, wonderful, and peaceful as the woods are, you need to be aware that there are things in the woods that bite. Things like snakes and ticks and chiggers. If you don’t know what chiggers are, let me enlighten you. Chiggers are almost invisible red bugs that run in packs of about 50 to 100. At least that is how many usually get on me. Ticks, on the other hand, usually only come one or two at a time, but they can carry some pretty nasty diseases, and it’s best to not get them on you. The solution is pretty simple. Always use insect repellant. Spray your arms, spray the back of your neck, spray your ankles, and spray it around your waist, even spray your clothes. That way you’ll lessen the chance of having a lot of scratchy places when you come out of the woods.

Don’t get snake bit. Remember this - most snakes are harmless, some snakes are poisonous, and any snake will bite you if you get close enough. The easiest way to avoid the poisonous snakes is to avoid all snakes. There are a few simple “snake” rules I follow when walking in the woods. Buy some snake chaps and wear them when in the woods. Don’t step if you can’t see what you’re stepping on. If you are in doubt about whether you should walk into a snaky looking area, don’t go OR send your buddy in first to walk around and check it out.

Pay attention to the road. You should never take a two wheel drive vehicle on a four wheel drive road. For some roads, even four wheel drive isn’t enough. I have gotten my truck stuck before in places where I thought I had plenty of vehicle to get in and out. If you don’t think your vehicle will make it down a road (and back), don’t go….or walk. It’s much better to walk in, walk out, be a little bit sweaty, get in your car, and drive home than it is to drive in, get stuck, walk out, be sweaty, and still have a stuck vehicle to go dig out of the woods.

You need to be in good shape. When looking at land, you can’t see everything you need to see and find out the things you need to know from a car window. Sometimes you have to walk, so make sure that you’re in good enough shape to do it. If you struggle walking up a couple of flights of stairs, your going to struggle walking up a steep hill. Take some time to get in shape before you head to Mother Nature’s aerobics class.

Pure genius.

Since that moment of enlightenment, I have come to rely on maps as a method for what I call stationary reconnaissance. Now, many sportsmen are familiar with maps as a scouting tool, but many are not, so let’s take a quick tour of the four basic maps I use on a regular basis.

The first is a survey. It is a dimensional drawing of a piece of property, which is prepared by a licensed surveyor who physically measures the distances around the property, using a meets and bounds description (a fancy way of saying distance and direction on a compass). The surveyor takes this information and creates a two dimensional drawing of property. In addition to physical shape, a survey provides a legal description, determines exact acreage, and identifies and documents any boundary line encroachments.

The second map is called a topographical map. A topo map gives you a visual representation of the lay of the land, providing a three dimensional look at land in a two dimensional image. Contour lines within the boundaries show changes in elevation in increments of anywhere from 2 to 200 feet. Contour lines drawn very far apart represent a gentle slope, while contour lines drawn very close together means there is a more severe or a steeper slope. Topo maps also identify where the high points on property are, as well as lowlands or wet lands. A topo gives you a better feel for not just the dimensions of the property, but also the physical “lay” of the land.

The third map is an aerial map. These are available at the county tax assessor’s office, but are also readily accessible through a variety of online sources, as well. Aerial maps are just that - an aerial photo. It’s simply a photograph looking straight down at the property, and it allows you to visually inspect not only the boundaries but also the physical characteristics of the land. You can see timber, open areas, creeks, ponds, and wetlands. Most aerial photos are taken during the winter when pines (being evergreens) are still green. So from an aerial you know that the green areas are probably pine, and the gray or brown areas are typically hardwood. In infrared aerials, the pines will appear red. With an aerial you can make some distinctions now about what is physically on the property, and just as important, you can see what is around the property. You can see if the neighbors have six chicken houses located adjacent to the tract and upwind of the exact spot where you were planning to build your retirement getaway or your weekend retreat.

The final map is a timber type map. Timber type maps are usually prepared by a forester as part of a timber cruise. While not typically available through public sources, many land owners, real estate agents, and foresters can provide timber type maps. They are routinely available for any property owned by timber companies. These maps show the boundary lines where the types of timber change on a tract. Acreage, timber type (species), and age class is usually provided for each area or “stand” of timber.

Try using maps for a little stationary reconnaissance. You can learn a tremendous amount of information about a piece of property having never seen the land, without spending a penny on gas, and without wasting any time staring at your windshield.

Good answer.

In the same way location is important, so is water….and for the same reason. They are characteristics that are hard to change. Plus, water sources like creeks, rivers, and lakes add to the aesthetic beauty of a tract, enhance wildlife, and create enjoyment opportunities that enhance one’s personal enjoyment.

As you pursue your dream tract, you may want to consider how water resources play into your decision, but be aware that answering “yes” to the water question is just the start. You need to dig a little deeper, knowing that water comes in three basic varieties – flowing water, lakes and ponds, and wetlands.

Here are some things to consider.

Don’t get confused by, or caught up in, terminology. What is the difference between a river, a creek, a stream, and a branch? When does a pond become a lake? I assume that size plays into the answer to all of these questions. I’m sure that there is a technically correct definition for each, but I’ll admit that I don’t know and never really took the time to find out, because the definition of these words is less important to me than what the person saying them actually means. For example, Potato Creek in South Georgia can be a raging torrent several hundred feet across, while the Mississippi River in Minnesota is small enough to jump across. This fact was driven home to me a year or so ago when a friend purchased 100 acres with a nice “creek” flowing through the middle. I joined him to look it over, only to find that the creek was deep and wide, with steep banks, creating an impassable obstacle to over half of the property. The creek was pretty to look at, but rendered nearly 50 acres inaccessible. Did it have water? Yep. Was that a good thing? Well…..not so much.

Creeks are nice, but bigger is not always better.

I think a lot of folks want a small meandering creek because they are nice to look at, but they also want them in case they want a lake at some point in the future. I’ve heard a thousand times that a tract had a creek and a “beautiful lake site” on it. Here’s some advice - unless you hear that statement from an engineer who jut performed a lake design on the property, ignore it. The simple truth is that most folks will never build a lake or pond. It is expensive, time consuming, and in most states, difficult to get permitted. If you want a lake, buy a tract with a lake.

A bit of advice about creeks and lakes, though. Creeks with large watersheds (areas that drain into your creek) can go from a trickle to a flood in a flash. Pardon the pun. Creeks that flow steadily during periods of regular rain can go dry as a bone in periods of prolonged drought. Lakes can suffer the same situation. I have seen farm ponds and lakes go completely dry and fill right back up in the last two years.

Also be aware that lakes and ponds can come with problems, particularly older ones. Drains in older ponds and lakes are notorious for clogging, leaking, and other problems associated with neglect. Lakes and ponds (even the older ones) with the newer siphon systems are a better bet than a simple drain stand. Also be mindful of dam integrity issues caused by trees (particularly large ones) growing on the dam.

Take your time. Do your homework. Make sure you’re getting what you want. Water on a tract is great. Water problems on a tract aren’t. And just like a bad location, both are hard to change after you own it.

Buying More Than You Can Afford

I have seen folks buy 200 acres they couldn’t afford, because they could borrow the money, when they should have paid cash for 20 acres they could afford. If you are buying property for recreational uses, it’s pretty hard to enjoy something that is a financial burden. Remember that while land is a great investment, it is not as easy to sell as a mutual fund. Selling land can take some time, so don’t overextend and get in a bind. You’ll enjoy your little place in the country a lot more, if you’re not worrying about how you are going to pay for it.

Buying Property without Considering an Exit Strategy

I know it is the tract of your dreams, and I know you are going to keep it forever, but the fact of the matter is, none of us knows what tomorrow will bring. So, if you are buying land, you better have a plan to sell it, even if you are not planning to sell it. Let your exit strategy influence your purchase. That way you can focus not only on why a particular tract is valuable to you, but also why it might be valuable to someone else, just in case you ever need to sell it. Be smart. Have an exit strategy. Plan to sell it, even if you never plan to sell it.

Failure to Check out the Neighborhood

Make sure you know the neighbors and the neighborhood before you buy your dream tract. Noisy neighbors (like a rock quarry, or a saw mill, or a railroad tracks), or smelly neighbors (like poultry or hog farms), or ugly neighbors (like landfills or industrial parks) can spoil your quiet enjoyment of your country getaway. Look around the area and ask questions, because bad neighbors and bad neighborhoods may be with you for a long time, and my experience has been that relocating your tract to a better neighborhood is not a practical solution.

Buying the Cheapest Tract

I love a deal. I love spending as little as I can on a tract of land. I also know that if you are determined to get the most acreage for your budget, you are likely to make a mistake. The cheapest tract is not always the best deal. Cheap land is cheap for a reason.....It is ugly, land locked, cut-over, swampy, or has some other warts on it. For the most part, tracts are priced at what they are worth, so don’t get consumed with the lowest price per acre, or you might wind up getting a tract that you don’t want...or missing a tract that you do.

Accepting as Fact ANYTHING, without Verifying it Yourself

We have all heard it before. “There is $1000 per acre of timber out there.” “Sewer is coming.” “You can’t smell those chicken farms from here.” “The roads on this tract are always accessible.” Be aware that sellers, agents, heirs, and neighbors all have a dog in the fight, do not ultimately have your best interest at heart, and may provide you with bad information. I’m not saying that everyone is intentionally deceptive, but many people simply pass along information that they have been told by someone else. Especially when buying land, you need to make sure that you make decisions that YOU know are based on truth rather than what someone has told you. You can’t possibly know everything you need to know, but you can find out, and you should. Get an expert opinion of timber value. Get a written verification of county infrastructure, or utilities, or zoning. Stand downwind of the chicken houses (on a day when they clean them out) and “sniff” for yourself. If you have concerns about some environmental issue, get it checked out. Do your homework.

You can get my complete list of Land Buying Mistakes PLUS the Top Ten Myths/Truths of Land Ownership by joining our facebook page at www.facebook.com/greenwoodproject

You may know what a survey is and what a boundary line looks like, but I’m willing to bet that most of you are not qualified to verify a boundary line encroachment. You know what trees look like and you may even be knowledgeable enough to tell valuable timber from timber that is not valuable, but cruising timber on your own or determining timber value on your own is another story. You are probably not qualified. I know I’m not. The list goes on and on: Appraisals, wildlife, wildlife potential, lake construction and permitting, just to name a few There are plenty of times that all of us need professional help to completely understand the components, characteristics, value, and even the potential of a property.

Most land buyers are not willing to pay for it. It can be an expensive proposition. But when I began investing in land, I quickly recognized that land investing is a team sport, so I assembled a team of people who had knowledge and experience in a specific area that was outside my general knowledge base. I partnered with a forester and I hired an appraiser. Now I have a wildlife biologist, a lake builder, financial people, a forester, and a land services guy on staff. The reason I have those people on my staff today is because they are incredibly important to my land investment business. I need professional help and I’ve been doing this a long time. I don’t know what makes a novice land buyer think they can go out and ride around with a real estate agent and make a decision that I as a professional land investor cannot make without a team of people. Buying land is a team sport, and I found out early that I needed to assemble a team of people to be successful as a land investor.

To be successful on purpose (rather than by accident) you need professional help, and you need to be willing to pay for it. Otherwise you are not “investing” in land, you’re speculating. There is just too much on the line to roll the dice in this manner, particularly when it is so easy to use experts to take the guesswork out of the process. But, be aware that there is also a BIG difference between experts who are merely book smart and those who are woods wise and can effectively apply what they know.

One of my biggest disappointments in life is that bonafide experts and complete idiots sound exactly the same the first time you meet them. So before you go and bet the farm (literally) on the expertise of someone you hardly know, let me offer a little advice. Ask a lot of questions. If you don’t know the right questions to ask, get a referral from someone who does know what to ask, or better yet, has experience (both good and bad) with these subject matter experts. They are easy to find. If you are looking for a forester, go to a local Forestry Association or Forest Landowner meeting and ask existing landowners who they trust and use themselves. If you need a reliable surveyor or appraiser, go to a local land lender and ask who they trust and use regularly. If you need the services of a real estate agent, don’t pick the one with the most listings in the local paper. Ask a closing attorney or a banker or a land investor who they think does the best job for their clients. Ask bankers and agents for their recommendations on real estate attorneys. Get to know the folks in your state’s Forestry Commission or Fish & Wildlife Service. Beyond knowing who the experts are, these state agencies often provide these consulting services, and sometimes it’s FREE.

This is just a starting point. This isn’t everyone you will ever need, and in fact, you may not need all of these folks on every land transaction, but you better know someone you can pick up the phone and call and ask questions. Someone you can trust.

Here are some things to consider.

Easy access via state highway or interstate can make for a convenient drive, but too much of a good thing is not necessarily a good thing. Too much “transportation” can be a distraction. While easy to get to, a tract located just off the interstate or adjacent to a busy highway can be a bit too convenient for my liking. The quiet of a morning in the deer stand seems to lose something if I can hear airplanes taking off or 18 wheelers rumbling down the interstate. However, if you get too far off the beaten path, you can find yourself bouncing down county road that looks like a pig trail when dry and a tractor pull course when wet. No fun. Here’s a tip. Mail boxes are a good sign. If someone lives on the road, there is a good chance school buses travel the road, in which case it will probably be accessible year round. In any event, somewhere between the boonies and the interstate is probably your best bet.

Once you get to a potential tract, pay close attention to how you get ON it. If it has road frontage, you can probably get on it, but there are situations where that may not be the case. High banks or ravines can cut off access. States control where (or if) you can locate a driveway on a state highway, and counties may have rules regarding minimum frontage for a driveway on any road. If a seller promotes access “through” a neighbors property (even though the tract has frontage), I’d suggest you start asking a lot of questions and maybe looking for another tract to buy.

If a tract has no frontage, it is either accessed via an easement or it is landlocked. An easement offers legal access to the property across the property of someone else. Land locked property is just that – land locked, and you can’t legally access it without the permission of one of the adjacent landowners. Now, easements are not necessarily bad, although they can create some limitations on building and subdividing, and they do come with some common sense responsibilities associated with protecting the property rights of the landowner whose property you’re crossing. But, easements don’t affect the hunting, and they do offer a degree of privacy that highway frontage can’t. Landlocked tracts, on the other hand, are almost always bad.

Here’s how you can tell the difference. An easement is recorded just like a deed and is verifiable through a title search. Despite what a seller may tell you about historical access, abandoned county roads, and gentleman’s agreements over access, if he or she can’t produce (or your attorney can’t find) a recorded easement, then one probably doesn’t exist. Next tract, please.

Once you get on the tract, you want to be able to access most of it through an internal road system. Now, I’m not suggesting that every acre needs a road going through it. Again, too much of a good thing is not a good thing, but be mindful that inaccessible areas of any property are pretty much useless. If you can get to it, you’ll use it and enjoy it. For most properties a good network of roads and four wheeler trails offers the best of both worlds. If you’re considering building a road system, keep in mind that natural obstacles like ravines, large creeks, and steep inclines can be expensive to overcome. You may want to get some professional advice before you commit your money to a tract with no internal road system.

When considering a tract of land, you need to ask yourself these questions. Can I get to it? Can I get on it? Can I get around on it? If the answer to any of these questions is no, you might want to keep looking.