It would be quite difficult for a person of average financial means to purchase expensive acres, costing thousands of dollars per acre, and requiring all cash. On the other hand, it would be relatively easy to purchase cheap acres for a few hundred dollars per acre, utilizing easy seller financing. There is a big difference between purchasing 80 expensive acres for $1.2 million cash ($15,000 per acre) – or purchasing 80 cheap acres for $36,000 ($450 per acre) requiring only $1,000 down and monthly payments of just $350.
The United States of America was, from its inception, a large speculation seeking cheap acres and other riches. It was a speculation for Christopher Columbus, for the kings of Spain, France and England, and for the early colonists.
Speculating in cheap acres was big business in early colonial America. Two important objectives of the first 13 states were the settlement and cultivation of good lands, and the establishment of commerce. In the early part of the 1800s, however, there were far more fortunes created by acquiring cheap acres than by engaging in commerce or starting businesses.
George Washington, himself, before he entered politics, was one of the most active speculators in cheap acres. Washington, even while President, purchased 3,000 acres in the Mohawk Valley, located in the State of New York with money borrowed from George Clinton. Clinton was the first governor of New York and the fourth Vice President of the United States. Subsequently, Washington sold about two-thirds of the property at a profit and repaid the loan. He also bought lots in the newly created City of Washington.
By the time Washington’s two terms as president were up in 1797, he was a very wealthy man as the result of his years of dealing in cheap acres.
There are still wonderful opportunities to make substantial sums of money buying cheap acres. Obviously prices are much higher today than in Washington’s time, but there is also a much bigger market for cheap acres today. Prices are all relative to the times, but the opportunity remains!
To view cheap acres, CLICK HERE