How to leverage 300 acres in upstate Ny

7 Replies

Good morning,

This is my first post on BP. I just became a member a few days ago. I am about half way through David Greene's BRRRR book and listening to as many podcasts as I can. So here's my question. My father has has over 300 acres in upstate NY, just outside of Cobleskill. It's mountain terrain with no electric on the property. I was looking for ideas on maybe making a part time vacation cabin rental, if there is a market? Also would there be liability issues with allowing people to ride ATVs, hunt/ shoot guns? I'm open to any suggestions on usage of this property.

Thank you

Adam

Yes there would be liability a lot of it, unless you can develop the property it isn't worth much, unless you have an emotional attachment to it if your goal is to invest in real estate your best option may be to sell it and buy something else.

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@Michael thank you for the response. I didn’t have any solid plans, more so looking for suggestions. I figured it might be a nice get away for city people. I myself have rented a cabin for the weekend to get away from Long Island and relax. I appreciate the insight.

You could rent the land during hunting season. I see quite a few people on CL or FB marketplace looking to rent land for hunting purposes. I don't know if you'd actually make money, but it would at least offset the cost of owning the land. 

The AirBnB might work. I've talked to people who said they've rented cabins/houses "in the middle of nowhere" just to get away from it all for a while. I'm sure the market for that type of rental is much smaller than the one for people wanting to be next to attractions/other things to do. I say put a cabin or two up there and see what happens. At the very least, you have a place to stay and relax. lol

You can contact ATV groups and see if they'd be interested in renting/using the land. They may even have their own insurance, but you would certainly want to look into liabilities and everything else anyway.

What was the original plan for the land when your father bought it?

@Chris Szepessy thank you. It’s been in the family for a very long time as a hunting property. I myself do not hunt but like to ride my quad. I don’t get up there much because I live in Suffolk county so it’s a shame to have it wasting away most of the year. I was thinking to maybe put up a small cabin and see what happens. At a minimum I’ll have a nicer place then now.

Originally posted by @Adam Czachor:

@Chris Szepessy thank you. It’s been in the family for a very long time as a hunting property. I myself do not hunt but like to ride my quad. I don’t get up there much because I live in Suffolk county so it’s a shame to have it wasting away most of the year. I was thinking to maybe put up a small cabin and see what happens. At a minimum I’ll have a nicer place then now.

You ever do anything with the land?