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Big River area land lease

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River Dad

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« on: December 29, 2017, 01:41:46 PM »
Thinking of buying a place in Big River.  I know the master lease expires in 2029 so its a little bit of a gamble...  Anybody have info on this area or how the lease deal works?   I would be a little skeptical to invest big money into something that may go away in 11 years....




rivrrts429

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« Reply #1 on: December 29, 2017, 01:48:20 PM »
Thinking of buying a place in Big River.  I know the master lease expires in 2029 so its a little bit of a gamble...  Anybody have info on this area or how the lease deal works?   I would be a little skeptical to invest big money into something that may go away in 11 years....


Itís definitely a gamble when youíre talking about negotiating with C.R.I.T. for land lease deals.

We are in Big River and love it but itís definitely something in the back of our minds. Itís likely the Indians will renew and all is well but theyíre very unpredictable too.

I think youíre kind of answering your own question if your gut is already hesitant.

Unless itís an unheard of deal where itís worth the risk I probably wouldnít be dropping a bunch of coin into an investment you might not have in a decade or two.
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Rogers Hopeful

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« Reply #2 on: December 30, 2017, 08:42:28 PM »
My parents and Grandma have property but have had it for a while. There is speculation the the big river land falls under the BLM property. Which the state  says they own


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River Dad

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« Reply #3 on: January 01, 2018, 09:13:38 AM »
I love that area of the river and don't mind shallow water,  keeps the big boats off!!!

There have been a few lawsuits contesting the boundaries of the reservation,  but all my research shows the border has been upheld since the sec of the interior set it in the 60's...  my feeling is it will renew,  I can't see them wanting to put in a casino.....  I cant imagine Blue Water Casino 2 miles away is taking in cash.....

My only fear is if they will renew the lease with the current holders or reclaim the property and then "re sell" the property with the new leasrs....

I would have no problem paying a high lease rate,  I just don't want to have to "re buy"  my own hoise....lol

I try to look at it like what is the worst case scenario....   if I could throw a mobile home on it I wouldn't mind but building a stick built is a huge investment...

fastnlight

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« Reply #4 on: January 01, 2018, 09:42:24 AM »
Thereís a couple of listings. Are these land leases or ownership?  Here is one from Zillow:  https://www.zillow.com/homedetails/5765-Hanemo-Dr-Big-River-Ca-CA-92242/2097618017_zpid


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« Last Edit: January 01, 2018, 09:52:10 AM by fastnlight »
You call this turn key!

fastnlight

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« Reply #5 on: January 01, 2018, 09:51:17 AM »
Thereís a couple of listings. Are land leases or ownership?  Here is one from Zillow:  https://www.zillow.com/homedetails/5765-Hanemo-Dr-Big-River-Ca-CA-92242/2097618017_zpid


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I read into the listing more and answered my own question.  Under "Lot Description" it says "Long Term Lease".  That answers why its so cheap.  Financing probably next to impossible. 
« Last Edit: January 01, 2018, 09:53:20 AM by fastnlight »
You call this turn key!

 


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