In my prior post on pricing a prepper property, I described the impact the distance from town can have on finding an affordable survival or bugout property. Generally the further out you go, the lower the price. I also mentioned a follow up posting that would offer another way to put a good prepper property within your grasp if you have a limited budget.
So today I suggest you consider teaming up with friends and family to share in the purchase of such a property. This can often allow you to acquire a much superior parcel at a lower cost per family unit than if you were to go it alone. It can be done in a variety of ways. One is to form an LLC with your friends/family that will own the real estate. Each person then owns a percentage of the LLC commensurate with their invested capital in the LLC. Something called an Operating Agreement establishes who governs the LLC, who has voting rights, and how the land use is allocated, as well as what happens upon the death of one of the members of the LLC. There are tax and legal implications, so make sure you consult with your accountant and attorney to determine if this is best for you but this is a widely used ownership entity in real estate.
Another method is for you to purchase the property on your own, then invite friends/family members to build a dwelling on the property in a location you choose. It would be important to establish guidelines such as in a lease so as to prevent confusion or conflict when decisions need to be made. Overall, it would act much like an LLC but with you retaining full ownership of the real estate. You could carve out parcels on paper wherein friends could build a house and enter into a long term ground lease. Check with local zoning ordinances, but in Buncombe County (Asheville), you can have up to four single family dwellings on one parcel of land without requiring any sort of public hearing. The only restriction is that there be adequate area of soils suitable for the necessary septic systems. In this case, you should typically plan for around one acre per dwelling.
To carry it one step further, if you purchase a large enough parcel, here in Buncombe County you can subdivide that parcel into three parcels without going through a public hearing and guess what? Each parcel is allowed to have up to four dwellings. The result is that you could end up with an enclave of twelve residences, thus further reducing your initial basis in the land. Just choose your neighbors wisely!
The financial benefit is obvious, but another benefit is that of having a trusted support network close at hand. There is much debate in the prepper world concerning going it alone or having a support group around. Some folks prefer to be totally on their own for privacy matters. However, I consider it a wise move to have several like-minded neighbors close by that can lend a hand in an emergency. Additionally, from a security standpoint it will make protecting your property and theirs that much more manageable.
So when the time comes for you to start looking for the perfect western North Carolina bugout property or off the grid property, give us a call. We’ll guide you through the process of not only locating a suitable property, but helping you set up the best ownership structure.