Hello reddit, this is my first post. Hope this topic is not out of place.
I have recently inherited approximately 255 acres of land in Missouri. I have had this land appraised within the last year to be worth $1,192,000. This land is generating $18,000 gross income every year from various leases. I am only twenty years old and currently in my third year of college at Ohio State University. The previous mentioned leases were set in place before I inherited this land. Those leases will expire in about 2 years which will be right around the time I graduate college. I want to know how I can best utilize this asset to help me generate extra income when that time comes. I can't help but think that with an asset worth just over one million dollars, there should be some other options that make more income than it currently is. I guess my big question is that, given such a large asset, how can I use it to help support myself throughout my life?
Hope I didn't leave out too much information, I am pretty clueless when it comes to this kind of stuff. I just don't want to look back at this asset I have been given in ten or twenty years and think, I could have utilized it ten times better. Thanks in advance.
Submitted October 27, 2018 at 12:38PM by sparkyfatcat888 https://ift.tt/2SorakC
