Let's talk about land OWNERSHIP vs. a MORTGAGE.
Bill Gates now owns 240K acres of land. Whoopty-do.
We own LAND. 20K acres from NC, GA, LA, and TX.
What comes with LAND ownership?
The right to exploitation of resource rights.
Of which, we have lease rights on timber, natural gas, water, and oil.
I sustain my family's lifestyle from those resource rights.
From rentals. to selling of timber, to lease agreements for natural gas, and water.
The domicile we live in is bought and paid for. All we pay is property taxes.
Same said for the rest of the 20K in acreage we own.
WHY?
Because I learned how to convert a debt instrument into value.
Maybe, just maybe, Gates knows the fundamental truth about currency.
I certainly do.
I learned it from three powerful sources.
Modern Money Mechanics.
Creature From Jekyll Island
Map and The Territories.
The take away? IF one has a mortgage....one is broke.
"the debt free lifestyle is the best life to live."- Warren Buffet.
Finally have the wife onboard after 10 years of marriage. Ironically it was the stimulus payments that opened her eyes, and how quickly free money gets spent.
On the path to no debt payments whatsoever by the end of the year.
Stay the course!
Married 25 years in September and my wife has been in sync with me the entire time.
What is "Map and Territories". I see several different authors for this one.
As for myself, my wife and I paid off our mortgage last week. Not to bad for a family in their 30s.
Map and The Territories by Alan Greenspan.
Feels good, doesn't it?!
Congrats!
Suggestions on how to find the land and the people to lease the rights to?
I’m interested in this. At what point, acreage wise, do you “break even” (ball park)?
Property tax lien auctions. 99.99% of people who default on property taxes never pay up. Your local sheriff will post a public notice of auctions. Contact them for details..
Companies will seek you out concerning natural resource rights.
They utilize plat maps at the local tax assessors office.
Break even point varies. We have been at this since 1997.
We have 50 domiciles we rent. We started showing a profit margin on them in 2004. Not one mortgage to procure them.
The majority of our properties are uninhabited.
This is not a get rich quick game plan. It takes time, effort, and persistence.
A lot of "gum shoe" work.