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View Full Version : To buy or not?


Leroy
12-10-2006, 09:48 PM
In my quest for cheap lake front property where I can park my boat on a lift I found this on my local lake. There are 3 parcels under the power lines. Two are left ~1 acre each. One is 40' lakefront and the other has 60'. They are $18k each and they will even divide either so it could be around $9k for 20-30' of lake front. The water quickly goes to ~18' all along the bank.

My plan is to put in ~$5k for dock and $5k for floating lift. For $20K I would have a place for my boat on the water. I cannot build anything permanent on this land. There is access to the road but you do drive across 6 acres and it is all grass. It is ~25 minutes from my house.

Oh, my wife doesn't like it, the power lines overhead are not her vision of lakefront property. I just want a parking place for now. Oh, the couse we have been skiing on Morse is 300 yards from this.

Comments?

jsc0324
12-10-2006, 09:52 PM
perhaps you could find someone else that wants to store their boat too on the water and cut the cost in 1/2. Sounds like a great idea to me.

ski_king
12-10-2006, 10:26 PM
Great price, Looks tempting, but power the lines scare me.

On the bright side, it will be easy to jump your boat if needed.

Laurel_Lake_Skier
12-10-2006, 10:59 PM
Is there an easement in place that will allow you to drive across the grass area you mentioned? You want to be sure you'll always be able to get to you lake frontage.

H20skeefreek
12-10-2006, 11:02 PM
Leroy, In my opinion, I wouldn't spend that much for just boat storage/access. Granted, yes it'd be nice, and if the land were usable, then I'd say go for it, but it's not, and the value won't increase with the surrounding market, so I'd have to say keep looking.

What about renting a slip from those people to the south?

PendO
12-10-2006, 11:02 PM
Leroy ... that is pretty damn cheap access compared to stuff up here ... a 50' lot appx 1/4 acre is about 300K on the lake ... and 500K if it has a chitty 1000sf cabin on it (with no well or septic system)

How many months of the year do you have high water? Is it a big body of water?

Maristar210
12-10-2006, 11:03 PM
Is there an easement in place that will allow you to drive across the grass area you mentioned? You want to be sure you'll always be able to get to you lake frontage.


My thoughts too Leroy. I would do it only if it were on the body of water I wanted to be on and not "settled for" becuse then you are settling twice.

Power lines do not bother me. It's not like your going to sleep under them every night.

BOL - Steve

milkmania
12-10-2006, 11:05 PM
In my quest for cheap lake front property where I can park my boat on a lift I found this on my local lake. There are 3 parcels under the power lines. Two are left ~1 acre each. One is 40' lakefront and the other has 60'. They are $18k each and they will even divide either so it could be around $9k for 20-30' of lake front. The water quickly goes to ~18' all along the bank.

My plan is to put in ~$5k for dock and $5k for floating lift. For $20K I would have a place for my boat on the water. I cannot build anything permanent on this land. There is access to the road but you do drive across 6 acres and it is all grass. It is ~25 minutes from my house.

Oh, my wife doesn't like it, the power lines overhead are not her vision of lakefront property. I just want a parking place for now. Oh, the couse we have been skiing on Morse is 300 yards from this.

Comments?

that's a lot of power lines:eek3:

Leroy
12-10-2006, 11:33 PM
THanks for the feedback. More info.

To rent a slip is $2500/year and you have to take your boat off from Nov to April. Houses around this property run from $500k to >2M. There are no more open lots around there, but people are buying old houses and bulldozing. The lake is one of the larger in Indiana. This is my choice of lake to ski on for now and probably next 8-10 years. The other lake is Geist which is similar, but much more developed.

MarkP
12-10-2006, 11:45 PM
I’d pass it on by.. The wife wouldn’t be happy and re-sale may be an issue..

Leroy
12-10-2006, 11:49 PM
Overview picture. I'm guessing with a few loops of wire I can light up a 100watt bulb!!! :D

PendO
12-11-2006, 12:01 AM
so, 2500 for a slip (annually) or you can buy property and put dock on it and a lift on it or for 36K you can own 100' of frontage (could you eventually build on it?) ... maybee I am missing something but that is cheaper than bare land in my culdesac ... is there an access road?

Leroy
12-11-2006, 12:09 AM
Pendo; It is under major power lines so no building, period. Yes, for $36k I could own the whole 100' of waterfront. There is no access road, but you have access through the power line property and can put in gravel or whatever to make it more accessible. Someone has already done this on the other side.

Jesus_Freak
12-11-2006, 04:05 AM
Although I wouldnt worry about power lines for myself (lived under some a while back....well, maybe that is what is wrong with me now), the points about mamma not being happy and the resale do seem to ring loudly. Have you asked the people who live nearby about renting spaces on their private docks?

X-45
12-11-2006, 08:23 AM
$36k I could own the whole 100' of waterfront.

If you have the cash buy it all. Build what you want to and then redivide. Up the price and sell what you dont want. when people see what you have done they will buy.

Slinkyredfoot
12-11-2006, 09:30 AM
Leroy,
I am very familar with this place. The power lines are a big problem in my opinion. Have you been out there and heard the constant HUM from these lines? WHy not rent the boat slip up by the marina? I was looking at a place to buy on Morse. The property taxes there nixed that idea.

Workin' 4 Toys
12-11-2006, 10:01 AM
Overview picture. I'm guessing with a few loops of wire I can light up a 100watt bulb!!! :D
Or if your boat sits there long enough, it might start by itself.......8p I don't like the sound those give off. Gives me the creeps...

Ric
12-11-2006, 11:23 AM
make them an low offer... what the hay.. you know it will be hard to sell later, but that is pretty cheap for a place to hang the boat 20 mins from home!
what is the lake like at that exposed point? rough all the time or not?

Upper Michigan Prostar190
12-11-2006, 11:45 AM
think of the christmas light possiblities!

ski_king
12-11-2006, 11:50 AM
Would you be allowed to have a seasonal travel trailer there or maybe a shed for storage? I still don't think I would want to spend much time there.

If you do buy it, I don't recommend flying a kite there.

Upper Michigan Prostar190
12-11-2006, 12:02 PM
If you do buy it, I don't recommend flying a kite there.
you big chicken! where is your sense of adventure?

sizzler
12-11-2006, 12:27 PM
If you do buy it, I don't recommend flying a kite there.


now where would that attitude have got Ben Franklin:D

TMCNo1
12-11-2006, 01:21 PM
now where would that attitude have got Ben Franklin:D


Wasn't he the dude that caught lectricity in a Coke bottle tied on a string during a thunderstorm?????????????????????

Ric
12-11-2006, 01:24 PM
Wasn't he the dude that caught lectricity in a Coke bottle tied on a string during a thunderstorm????????????????????? Yah........... Dat Him.........

Leroy
12-11-2006, 01:38 PM
Slinky; I've tried to get in at Cicero marina, $900/year but like a private club for local people. At Morse marina, I hate paying $2600 each year for a lift.
I've never noticed any sound around the wires, but last summer just as it was starting to rain I did draw a 1 inch ESD spark off the metal of my windshield as I passed under these wires.:eek:

I consider <$1000 slip rental fee /year break even point and I would rent a lift ($20k*5%CD rate is $1000) quickly at that price.

Everyone is right if Momma ain't happy, no one is!

This is on the main channel, there really are no inlets on this lake. Very rough on weekends and seems like most of the time I try to ski.....

There are lots at the very north end but not this cheap and the water is only 3-5' deep there. Since this lake often drops in the summer/fall could end the season real quick.

Thanks for the feedback, I meet my potential partner tomorrow at lunch.

André
12-11-2006, 06:33 PM
Some comments on resale...
-Ask your grand father,land will always increase in price ,even under powerlines and even more on a lakefront.
-The demand for lake side land ,even if you can't built on it,is very strong.You gonna have a boat for the rest of your life(I hope) and look at the ridiculous price they ask for your slip!Plus you can put a nice dock with chairs and table,cooler and BBQ and you're all set up!Nobody is gonna mind the powerlines for a day at the lake and i see that there's housing a couples of hundred feets from the lot...You could have more guest that stay on land,with a smaller boat, ride them all day,volley ball court,big fire at night,then everyone drives home (drunk;) ) 20 minutes away and the wife get to sleep in her own bed after a nice day at the lakes WITH the kids...
You could always resale in a couples of years if you move...With the price of the slip ,someone will want to buy the nice set up you will have built over the years.
That's a no brainer,but make a low offer first!
Good luck my friend!:)

Ric
12-11-2006, 06:42 PM
Some comments on resale...
-Ask your grand father,land will always increase in price ,even under powerlines and even more on a lakefront.
-The demand for lake side land ,even if you can't built on it,is very strong.You gonna have a boat for the rest of your life(I hope) and look at the ridiculous price they ask for your slip!Plus you can put a nice dock with chairs and table,cooler and BBQ and you're all set up!Nobody is gonna mind the powerlines for a day at the lake and i see that there's housing a couples of hundred feets from the lot...You could have more guest that stay on land,with a smaller boat, ride them all day,volley ball court,big fire at night,then everyone drives home (drunk;) ) 20 minutes away and the wife get to sleep in her own bed after a nice day at the lakes WITH the kids...
You could always resale in a couples of years if you move...With the price of the slip ,someone will want to buy the nice set up you will have built over the years.
That's a no brainer,but make a low offer first!
Good luck my friend!:) You are a Dawg Andre

André
12-11-2006, 06:57 PM
You are a Dawg Andre
Ya,i can lick my balls!;)

Ric
12-11-2006, 07:02 PM
Great, now Andre's getting banned! :noface:

André
12-11-2006, 07:06 PM
Great, now Andre's getting banned! :noface:
...and it taste like chicken!:D

milkmania
12-11-2006, 07:10 PM
slowly walks out of this thread......




......back against the wall!


:rolleyes:

Leroy
12-11-2006, 08:54 PM
Thanks for the advise André! Is Rick picking on you? :mad:

ski_king
12-11-2006, 08:56 PM
I think Rachel is jealous of what Andre can do.

BriEOD
12-11-2006, 08:59 PM
You are a Dawg Andre
I'm with Andre. The idea is a place to store the boat, not hang out under the power lines. You think holding a cell phone to your ear all day doesn't do any different? I'd say press. BTW, how much are the taxes?

Leroy
12-11-2006, 09:04 PM
As much as there has been bad press about health concerns all the tests show no problem with what you would get out there. The frequency is so low with the voltage on the power lines.

ski_king
12-11-2006, 09:08 PM
..............My plan is to put in ~$5k for dock and $5k for floating lift. .............
Check with Jimmer on the floating dock he built with a lift, best one I have seen. My guess is you can do it for much less than $10k

Getting it in and out of the water each season may be a difficult though.

http://www.tmcowners.com/photopost/data/500/medium/94Boat_In_Lift_Small.jpg[

Ric
12-12-2006, 10:10 AM
I'm with Andre. The idea is a place to store the boat, not hang out under the power lines. You think holding a cell phone to your ear all day doesn't do any different? I'd say press. BTW, how much are the taxes? Good to know that you are with Andre, who here is against andre?

Upper Michigan Prostar190
12-12-2006, 10:12 AM
Good to know that you are with Andre, who here is against andre?
I heard on the street that Gene was against him. Btu that may just street talk. :confused:

chudson
12-12-2006, 04:14 PM
As much as there has been bad press about health concerns all the tests show no problem with what you would get out there. The frequency is so low with the voltage on the power lines.

I was just about to post telling you that I had heard about health problems from "High Power Lines" but you have already looked into it. I live farm country about 130 miles southwest of you and there are a couple of power lines crossing farms I work and that has always been the rumor about building and living under those lines!!!

One other thing to check is if the Power Co. has "Right of Way" to work through the property if they need!!!

Ric
12-12-2006, 04:37 PM
I was just about to post telling you that I had heard about health problems from "High Power Lines" but you have already looked into it. I live farm country about 130 miles southwest of you and there are a couple of power lines crossing farms I work and that has always been the rumor about building and living under those lines!!!

One other thing to check is if the Power Co. has "Right of Way" to work through the property if they need!!! eddie murphy did a movie about the electromagnetic fields under powerlines
:cool:

chudson
12-12-2006, 06:02 PM
eddie murphy did a movie about the electromagnetic fields under powerlines
:cool:

Well there's a case of "Dain Bramage" right there!!!

sully
12-12-2006, 10:38 PM
That you would get the best of both worlds. A lot and slip close to home, can't beat that. Could you put multiple slips on charge rent for them, thus gettting some income back to pay for the property?
You can't build, but could you put a mobile home? There are some nice looking mobile homes with cedar siding.

Monte
12-12-2006, 10:50 PM
I'd go for it.. What's the worst that could happen? Sell it in a while for a little profit if you don't like it.

atlfootr
12-12-2006, 11:02 PM
take your time and look around ;)

Leroy
12-12-2006, 11:45 PM
Met with my friend and we are going to keep working on this, slowly.

There is no building allowed under the power lines, not even a "mobile home".

While I could not put in 20 slips and rent, I think I could have 2 or 3 and have "friends" put their boat in. Maybe make $50-$100 each.

If my son ends up at IU that could make this more feasible (less expensive public University).

I still think this is perfect for what I do and not much money.

shepherd
12-13-2006, 01:01 PM
If "mobile home" is not possible, I can't see how they could ban a motorhome/RV unless there is some kind of covenant that comes with the property. Or better yet, if they won't allow mobile/motor homes, you could probably tie a houseboat up to the dock.

I say buy it if there are no other practical alternatives for you.

Rich_G
12-13-2006, 01:28 PM
Maybe this has been covered, but will the Electric company provide service to this lot? You will have to have it for the lift and would want it for other reasons too.

If the hook-up is coming from the road 600 yards away, you may have to pay a premium for laying the lines. I think its pretty pricey. This would be a one-time cost you need to factor in.

ski_king
12-13-2006, 01:33 PM
I think I remember something about they wont run electric service under the big lines. Something about liability............

Leroy
12-13-2006, 01:40 PM
Good questions to ask about the power.

H20skeefreek
12-13-2006, 02:16 PM
Met with my friend and we are going to keep working on this, slowly.

There is no building allowed under the power lines, not even a "mobile home".

While I could not put in 20 slips and rent, I think I could have 2 or 3 and have "friends" put their boat in. Maybe make $50-$100 each.

If my son ends up at IU that could make this more feasible (less expensive public University).

I still think this is perfect for what I do and not much money.
I can't believe anyone would ever think of sending thier kid to Indiana University, wow, it almost hurt to even write those words.

Leroy
12-13-2006, 02:55 PM
He is accepted at Purdue also but they only have "club soccer". I don't know of another school this size that doesn't have a D1 program.

I can't believe anyone would ever think of sending thier kid to Indiana University, wow, it almost hurt to even write those words.

sully
12-13-2006, 08:01 PM
I think I remember something about they wont run electric service under the big lines. Something about liability............

The utility I work for does it all the time. Not a problem.

H20skeefreek
12-13-2006, 08:31 PM
He is accepted at Purdue also but they only have "club soccer". I don't know of another school this size that doesn't have a D1 program.
Could he play real football? Kicker maybe? I think we need a new one. Maybe he could be a male cheerleader . J/k, I have no idea why we don't have a soccer team, it is the most popular sport in the world. I still would never send my kid to be a Hoosier, no on deserves that.

André
12-16-2006, 12:21 PM
Leroy
Still thinking about this one?

Leroy
12-16-2006, 01:10 PM
Andre; yes, planning on walking the land on a warmer day soon!

H20; He doesn't have an interest in a wimpy sport where you need to wear pads to protect yourself take off the pads and play like a man! 8p

The reason why is charter 9 (?) if they added a men's soccer program they would have to add 1 or 2 more women's athletic programs.

Could he play real football? Kicker maybe? I think we need a new one. Maybe he could be a male cheerleader . J/k, I have no idea why we don't have a soccer team, it is the most popular sport in the world. I still would never send my kid to be a Hoosier, no on deserves that.