So I went back "up North" this past weekend to show my fiancé how gorgeous Leelanau County is, and it left me thinking, wouldn't this be a better place to park money towards retirement, as opposed to even tax-deferred IRAs, 401-Ks, etc. or am I wrong?
A few variables: I don't have a lot of cash lying around, so would have to get a mortgage (though my credit is very good). I would make payments with what I was putting into my teacher tax-deferred plan and an additional IRA. I was thinking of getting a loan from MSUFCU for the down payment.
I'm thinking about buying a lot and just letting it sit there, before I would sell it in approximately 10 years. I couldn't afford a mortgage on a property with a house already on it. I'm thinking around 80-100K. Are there zoning restrictions against buying small parcels and not building within a shorter time-frame?
I'm guessing that the capital appreciation potential outweighs the tax-deferred savings/returns of IRA's, etc. over that same 10 year period.
Forgive my ignorance on these matters, in this my initial investigation phase, but that's why I'm asking.
What sayeth the real-estate guru's of the board? And sorry for my small-ball investment question, but it-is-what-it-is ( :
Thanks in advance!
A few variables: I don't have a lot of cash lying around, so would have to get a mortgage (though my credit is very good). I would make payments with what I was putting into my teacher tax-deferred plan and an additional IRA. I was thinking of getting a loan from MSUFCU for the down payment.
I'm thinking about buying a lot and just letting it sit there, before I would sell it in approximately 10 years. I couldn't afford a mortgage on a property with a house already on it. I'm thinking around 80-100K. Are there zoning restrictions against buying small parcels and not building within a shorter time-frame?
I'm guessing that the capital appreciation potential outweighs the tax-deferred savings/returns of IRA's, etc. over that same 10 year period.
Forgive my ignorance on these matters, in this my initial investigation phase, but that's why I'm asking.
What sayeth the real-estate guru's of the board? And sorry for my small-ball investment question, but it-is-what-it-is ( :
Thanks in advance!
