Should I hold these properties long term or cash in now?

[Justin Glass]

These properties are probably different than 98% of people on here deal with, but it is my line of business and has been for a long time. Hunting property. I buy, sale and hold, property that is used for hunting and recreation from 30 to 1000 acres, sometimes vacant land I improve, sometimes I build cabins, etc. a lot of different scenarios. For the sake of time I will tell you about a recent scenario. I have a few deals like this one and my instinct is to go long term instead of flipping. 

I bought 60 acres, for $60k, of vacant land unimproved to turn into a duck hunting property. It has the right terrain and geography. I built a levy with a bulldozer to hold water for the waterfowl that cost $6000 and put in an irrigation well, for $12000, to guarantee water year to year. With another couple of small things I have $80K in the property. I can easily lease this property for $8000 a year increasing to $10000 within a couple of years. Once the property is leased it is maintenance free the only thing I have to pay are the taxes, which are about $150 a year. The rent goes up every year and the property appreciates. HOWEVER, I could sale the property $150k yielding and gross profit of $70k. 

This is where I yield to the experts. Should I keep the virtually passive income property? Or since there is an 87% return instantly, should I sell? Thanks guys I await your comments and advice.

[Jay Hinrichs]

@Harry Asnien   As long as Dick Cheney is not hunting there insurance should be fine.

@Justin Glass   Nice niche'  I like it.. one thought would be to hold on to these for a few years so you can 1031 them then roll all of them up so you get enough cash to reinvest in a Class A professionally managed income property that sends off true mail money and call it a day.

Although I bet its a lot of fund to build dam's and improve your properties and have free place's to go hunt and meet different folks etc etc.

And in your area you have the freedom to do these things to the properties out west we can't just go build ponds etc water rights are intense and tightly control.. that includes wells and damming up any free flowing water.

Nice Job