What's up with Lithia Springs?

[MRH]

So even if you could find large acreage close to I-20 for 3k per acre you think it is s bad investment? There has got to be a floor on price at some level?

You said $5k, but yes, certainly, $3k/acre would be a steal if it isn't flood plain.

Tyler Perry bought a big chunk out here....think about that for a minute...

He bought our hunting land, right next to Sweetwater park. I know his land better than he does.

I was thinking about it. My range up in Cartersville is about 45 minutes away and this would be a lot closer. It borders the east side of Sweetwater Park so I assume it would be good hunting property?

I need to check the laws in Douglas county and make sure they allow for outdoor shooting on unincorporated areas.

I don't know if it is unincorporated, but it is prime time hunting land around there. Folks around were starting to complain about the hunting back around 2011-2012, but it is not city limits...My guess, which is partially educated, is Douglas Co. will eventually be bow only, like Cobb, Fulton, etc...Not yet, though.

 

[araomd]

You said $5k, but yes, certainly, $3k/acre would be a steal if it isn't flood plain.

Here's 112 acres that hasn't sold for 5k an acres so it's going on the auction block tomorrow. I'm curious to see what it sells for. Wouldn't be surprised if it goes for 3k.


http://direct.xceligent.com/?client=8375020A85026787F9BB6F24#!/1186243

http://www.johndixon.com/auctions/171214/171214_5210.pdf

 

[MRH]

Here's 112 acres that hasn't sold for 5k an acres so it's going on the auction block tomorrow. I'm curious to see what it sells for. Wouldn't be surprised if it goes for 3k.


http://direct.xceligent.com/?client=8375020A85026787F9BB6F24#!/1186243

http://www.johndixon.com/auctions/171214/171214_5210.pdf

View attachment 1424506

Very good hunting land right there. This isn't right next to Sweetwater, but in between N County line road and I-20. Lots of woods back in there. Very rocky, mostly all granite, but usable for pretty much anything, and certainly not a flood plain. On the other side of I-20 is Vulcan rock quarry. I can't imagine them not trying to grab this up, but they already own a good deal of land that has never been utilized, so they really don't need it, I'm guessing. $3k would be an absolute steal, IMO.

Other than the small tract with No County Line road frontage, you might want to make sure none of this is landlocked. Fairfax Dr. is a neighborhood, likewise with the bordering tract, and I would make sure you have access to the land from somewhere in the neighborhood.

Edited: And this may be inside D'ville city limits, but again, not certain.

 

[DerekB711]

years ago a guy at my church bought a few acres on the outskirts of Cobb county to build a home on after his then elementary and middle school kids graduated from high school and were off to college. 5 years later he was approached and sold the land to publix for over a million dollars.

that is now the publix at Cedarcrest and Hwy 41 so you never know what can happen

 

[araomd]

Edited: And this may be inside D'ville city limits, but again, not certain.

Looks like since it was annexed by Douglasville years ago it is within city limits. The city code says you can get a permit to hunt and shoot if you have 50 contiguous acres but they have to approve it. Hopefully it is not that hard to get.

 

[MRH]

Looks like since it was annexed by Douglasville years ago it is within city limits. The city code says you can get a permit to hunt and shoot if you have 50 contiguous acres but they have to approve it. Hopefully it is not that hard to get.

5 years ago it would not have been that hard to get, most likely, but things have changed dramatically around here since last year, so proceed with caution. Lithia Springs High School is almost right next door as well. In fact, you can see the football and baseball fields if you look closely at the bottom right of the map you provided. It is also very close to I-20.

This is off of N. County Line Rd, and not a business area at all, and it appears the only access to the larger tracts of land will be through those neighborhoods, so I'm thinking it may not be the best potential property for developers of any kind.

 

[DirtySouth]

If land is available for $3-5k an acre with the economy doing as well as it is right now, there is a reason someone hasn't snatched it up already, especially something that has a potential investment opportunity. This is coming from someone who has been in the land surveying business for almost 18 years (recently walked away from it).

 

[araomd]

If land is available for $3-5k an acre with the economy doing as well as it is right now, there is a reason someone hasn't snatched it up already, especially something that has a potential investment opportunity. This is coming from someone who has been in the land surveying business for almost 18 years (recently walked away from it).

I don't know about that. Saying that means there are no great "deals", only problem properties. I have bought and sold enough properties to advantage to know that is not true.
Sometimes the properties are not distressed, it's the buyer that is distressed. The land may indeed be good land, but it is not a commodity asset like a share of stock that you can buy over a computer. Each property has its unique problems and advantages, and the buyer that would pay full price who knows the property might not show up in the 4-6 weeks you need to sell the property.
This is especially true of bank owned properties and distressed debt land sales backed by the FDIC (taxpayer) from the last real estate cycle which are still coming on the market. You have to pay cash and have a short clock on due diligence and closing, which few people are willing or able to do and that really drives the price below a market level.

 

[DirtySouth]

I don't know about that. Saying that means there are no great "deals", only problem properties. I have bought and sold enough properties to advantage to know that is not true.
Sometimes the properties are not distressed, it's the buyer that is distressed. The land may indeed be good land, but it is not a commodity asset like a share of stock that you can buy over a computer. Each property has its unique problems and advantages, and the buyer that would pay full price who knows the property might not show up in the 4-6 weeks you need to sell the property.
This is especially true of bank owned properties and distressed debt land sales backed by the FDIC (taxpayer) from the last real estate cycle which are still coming on the market. You have to pay cash and have a short clock on due diligence and closing, which few people are willing or able to do and that really drives the price below a market level.

I didn't say that there weren't deals to be had, just that there is usually a reason that land isn't snatched up in a economy like this. I live in Bartow County, and I wish that I could find property for $3k an acre, that can be used for something other than hunting.

That property that you linked has one major issue that prevents it from being of any use as an investment; access or lack thereof. Someone else mentioned a rock quarry close by. There may be a ton of rock that you have to contend with if you tried to develop it, and that will get very expensive, very quick when you have to start blasting 10-20' of rock away just to lay sewer.

I wish you luck in finding something. I am all about someone being successful. Sometimes that means taking a risk, but it sounds like you have experience. Have you walked the property yet?

 

[araomd]

I can see someone from Smyrna being suckered into land investments in Lithia Springs.

Well I got suckered. About 80 acres bordering the east side of Sweetwater Park. Outside of city limits so shooting is not an issue.

I wonder what size bucks can be lured out of a 2,500 acre park with some food plots on the border?