Cheap areas to buy real estate in the States? -- Canadian Buyer

[Sikhinvestor]

Hi Guys,

I am looking to buy a lakefront/waterfront lot in the US, price is up to $100k, it isn't much, but its just for the long run.

What areas that you would consider, if you know of anything dirt cheap in a small town with a good view, I am open for anything.

Thanks,

SIKH INVESTOR

 

[jeb9999]

Bayou is waterfront and dirt cheap. Try looking in the delta area of South Louisiana.

 

[ByLoSellHi]

You will find nothing worth buying for that kind of money, my friend.

---Not even in these times.

Save yourself wasted time.

 

[BlueHorseshoe]

Three ideas:

1. Look at buying the stock of Maui Land & Pineapple (MLP) for exposure to oceanfront property. MLP owns 23k acres of Maui land, with a long expanse of white sand beaches. The great part is that they are carrying the value of this land at cost - the cost at which they acquired the land over 1911-1930! AND MLP is trading at ~30% DISCOUNT to book value.

(I'm not bullshitting, read the 10-K yourself, at SEC Edgar website.)

2. You might consider buying some land near Kiluaeau volcano on the island of Hawai'i. Many of the properties are reasonably priced because there is fear they could be wiped out by lava flows sometime this millenium. But if you want cheap, you gotta take risk, right?

3. Not sure if this fits your criteria, but you might look along the gulf coast of Texas, which just got devastated by a hurricane. Perhaps you could pick up something cheap down there.