Well. I tried. A last ditch effort to stay here in the Black Hills of South Dakota. I searched for land here in SD and can’t find ANY land FSBO with owner financing. Everyone wants cash, which means bank financing and that is a big NOPE! So. I am unable to buy land here. I’m stuck renting, which is why I’m leaving. This is complete and utter bullshit. Renting an apartment I mean…Rent is such a waste. There’s nothing to be gained from renting. Sure, you get a roof over your head but that’s IT! Nothing else.
You own NOTHING! You are investing in NOTHING. Some would say that’s enough. But not for me. When you rent you aren’t building any kind of savings. You’re not building anything. You’re literally pissing money away. You might as well flush it down the toilet. It’s unsustainable and is completely useless to me and my needs and goals. I searched everywhere around here in the Black Hills for land. But, because of my damn medical bills, which has screwed up my credit, I don’t have the credit to buy land with traditional financing. Even if I were to find a bank or lender that would finance me with my credit, banks and lenders DON’T FINANCE VACANT LAND. It’s too big of a risk for them.
Banks don’t look at land the same way we do. They view vacant land with very little value. There’s no house, therefore it’s not worth much to them at all and reselling it if you default is costly and they’re stuck paying taxes on vacant land and it’s a big risk and expense for them. So, getting financing on vacant land is practically impossible UNLESS you’re getting a loan that includes the building of a house on that land, which will make things go more smoothly.
But, that brings us back to credit. Credit that I don’t have to get the land I want or need. I searched this whole area, I’ve called people spoken with finance specialists, bankers, real estate agents, and land owners. I’ve placed many ads in local media around my area looking for land with owner financing, short term, long term, even offered MORE than the asking price if they’d hold the note on the property and do owner financing. Anything just to get into a parcel of land. Nothing. I don’t blame people. Cash is king. Money talks and bullshit walks. I can’t blame people for wanting their investment back plus a little profit for themselves and families. Absolutely nothing wrong with that.
But it sucks the way the systems locks people out of land ownership. Maybe it’s designed that way. Maybe it’s evolved over time to be that way. For the amount of money most people pay for rent, people could own their own land and home. People pay their rent each month and it’s about the same or it costs more than owning. Most people don’t have the money for a down payment, and/or their credit is messed up due to medical bills or student loans. That’s wrong in my opinion. These folks would love to own their own land and a home of their own, but they’re stuck.
People get stuck in a system and there’s no way out. The debt is piling up, interest is accruing, all the while people still have to work 40, 50 or 60 hours a week to pay the rent and the interest on loans just to keep a roof over their heads, provide for their family and hope that “One day…” they’ll be able to own their own place. But most times that day never comes. Saving money in this scenario is nearly impossible with today’s wages and cost of living. Not to mention inflation which is about 3% on average per year. Meaning something that cost’s $1 today, will cost $1.03 next year. $100 today will cost $103 next year. $1000 today will cost $1030 next. Something like a piece of land that costs about $100k will cost a full $3000 more next year. How much money can you save in a year? $3k? $10k?
It’s a constant uphill battle. People end up stuck in a system of debt that practically enslaves them and holds them hostage. “Work hard and you’ll be rewarded for your work.” OK, sure. No problem Let me get right on that. While I’m at it I’ll just save money I don’t have to save which will be eaten away and practically made worthless by inflation which will raise the price on what I’m trying to save for to begin with. As I’m saving for a down payment the price of that land is going up and the value of each dollar I save is going down by 3% annually. Don’t believe me? Look it up!
Inflation has averaged about 3% annually for the past 100 years. It’s actually about 3.22% meaning the price of everything will double every 20 years or so. Think about that. Take all the time you need. That means that land that will take you 10 years to save for will increase in cost by 50%. Maybe… But somehow land doesn’t increase in value that fast does it…? Or we’d all be in real estate at those kinds of returns on investment. Anyway. Where does this leave me? Or you, if you want to buy land? We have to find cheap owner financed land somewhere. If we’re lucky maybe we have a family member or friend who has a piece of land they’ll sell. Or maybe we inherited some land or money, we could buy land with that. But alas, I have no rich uncle or inheritance or savings in the bank.
I used to live paycheck to paycheck wasting money on my apartment basically just throwing money away on something I’ll never own. There’s no sense in that.
So how do you stop?
You just do it.
That’s why I decided to stop the insanity and get out and stop running in the hamster wheel. Stop the craziness and just go. I shut down all my accounts and needless expenses and got rid of all the bills I possibly could.
I’m done with the BS. So I’m selling everything I own and hitting the road.
The land here is too expensive and way over priced. $10k to $20k per acre on average. I don’t have that kind of money, so I have to go somewhere I can afford the land. I can probably swing $500/month fairly easily, plus general food, water, gas and miscellaneous expenses. So, that’s my budget.
In the meantime I’m still searching for land somewhere.
What’s my plan?
No plan really. Just gonna wing it. I’m going nomad, off grid. A road trip. A journey and adventure. To find that piece of land, build my cabin, grow my garden, and enjoy nature. Then get another, and another and another. More on that later.
I hope my story inspires you to get out there and do it. To take the risk, do your dreams, and live life now. Find that piece of land. Don’t drop everything if you’ve got responsibilities to take care of. Family comes first. Not everyone will have the ability to do it the way I am.
But don’t worry, I’ll keep you all updated every step of the way here on my blog. Hopefully if this works out I can help some folks with their off grid dream too. Hopefully you enjoy my story and maybe it inspires you to do your dreams.
Stop being a slave to the system.
You either do it or you don’t.
More updates to come.
Thanks for reading.
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