Action #1 or this?

[Rip]

A horse farm has so many costs to maintain (property taxes, upkeep, vet bills, etc, etc) that if you didn't know what you were doing with it it would bleed you dry. And I am told (I personally stay as far away from horses as possible) that even for people with a significant personal commitment,

Action 1 for me. Now if this propery was something different say a plane and a nice chunk of land on the Northern CA coast with a big house well then....

[FlyingDonut]

you know what this poll shows? The AMAZING eastcoast/westcoast mentality of this board. If I have only those two choices, I'm taking the land IN A HEARTBEAT. The farm is 60 miles from Louisville, 60 miles from Lexington, in a region that is growing at a very quick rate. I get 500 acres of prime land near the capitol of the state and the two biggest cities instead of a comic book? I'm there. I'll just sit back and wait for the development to come to me, and it will. You bet your [!@#%^&^] that in 20 years there'll be a line of people around the block wanting to buy 2.5 acre manor homes in "Donut Glen" or something silly like that.

 

And for those of you laughing, three words. Loudoun County, Virginia.

[rob_react]

Why do you guys keep talking about money?

 

If it's a question of money, even I, with my admitted east coast bias and phobia of any place more remote than Western Mass, would take the land. Especially since I wouldn't realistically appraise a NM Action #1 that high to begin with...

 

But, separating money from the equation, which I thought was the point, I clearly want the Action #1 because for starters, I've always wanted to own an Action #1 and secondly, being a super urban lunatic, I have no desire to own a freakin' farm.

 

I'm like Jack Hawksmoor, I weaken when I'm away from an urban center

 

Seriously though, how tough is this for me to answer without money involved? Until today I've obviously never thought about owning a farm in the middle of Kentucky. I've actually never thought about owning ANY farm. On the other hand, I've, on more than one occasion thought about how cool it would be to own an Action #1.

[blowout]

anybody who is voting for the Action 1 is insane. Absolutely, completely insane.

 

I agree.

[delekkerste]

you know what this poll shows? The AMAZING eastcoast/westcoast mentality of this board. If I have only those two choices, I'm taking the land IN A HEARTBEAT. The farm is 60 miles from Louisville, 60 miles from Lexington, in a region that is growing at a very quick rate. I get 500 acres of prime land near the capitol of the state and the two biggest cities instead of a comic book? I'm there. I'll just sit back and wait for the development to come to me, and it will. You bet your [!@#%^&^] that in 20 years there'll be a line of people around the block wanting to buy 2.5 acre manor homes in "Donut Glen" or something silly like that.

 

And for those of you laughing, three words. Loudoun County, Virginia.

 

I'm with you completely on this. I'd rather be known as "that real estate developer from Kentucky" in 20 years than "the guy who gave up 502 acres of prime land for a comic book". Not to mention being known as "the guy who throws the best Kentucky Derby party every year". Even aside from the tantalizing investment prospects, what's so great about a comic book, even a NM Action #1, that's worth giving up 502 acres of rolling green, with a huge, beautiful house/guest home, private lake, etc.? Heck, I'd take the land even if it was in some totally inconvenient place like New Zealand and not the U.S.

[dam60]

Gene, you totally don't want the property. What are you going to do with it - rent it? Sorry man, but with the exception of the Kentucky Derby that land is worthless . . .

 

Furthermore, if you wanted to develop it into a strip mall lets say you would have to fight tons of zoning legal battles. A losing proposition . . .

 

DAM

 

Dave, one day I am going to wean you off the comic crack mentality completely. You *must* be joking - 502 gorgeous acres of land and a huge manor house as long as a city block...or a single comic book??? The first which has income-producing potential (did you not learn anything from that "Rich Dad, Poor Dad" book you loaned me???) or the latter which relies on ever-increasing amounts of psychological insanity to increase in value?

 

Owning 502 acres and the houses and barn/stables on it makes you a land baron in the classic tradition - think of the potential! Owning an Action #1 CGC 9.4 only earns you the dubious title of "King of the Dip$hits".

 

Dude, we gotta talk about this "income producing potential" - there would be HUGE expenses in cap ex and taxes!!! The bank vault costs $100 a year - if you do that you probably don't even need to get extra insurance on it!! Furthermore, why doesn't somebody who really wants to have a horse ranch just build one right next to it? What's so special about this particular one? The land can't be a premium or else it wouldn't have hit ebay! you don't think a group of local land barons wouldn't have done bought the land first?

 

From my real estate experience an appraisal is based on a few things:

1 - REPLACEMENT COST (i.e. the cost of building a similar statue literally right next door)

2 - DCF

3 - Population statistics

 

Let's go through these:

1 - again, why don't I just buy some undeveloped land and develop my own horse ranch? and furthermore, i hope FD knows a good real estate lawyer because that's what you'll need if you eventually want to parcel out the land and sell individual lots. Zoning can be a biatch!

 

2 - let's say you run this Horse Ranch as a hotel. The metric for hotels is REVPAR - Revenue Per Available Room. Now, if a hotel hits 80% of its REVPAR potential that's an absolute grand slam. Why in God's name would anyone vacation in KY? You are in the middle of no where!! If I wanted to go to a horse ranch there are plenty of day trips I can take to Long Island, CT, upstate, etc. for me to actually get on a plane I would rather do the "City Slickers" thing and go on out to the west but again, what's so special about this piece of land in KY?

 

Here's a few things that you have to subtract from your DCF - a HUGE cap ex expense - literally just moving the lawn would take a full day plus over 20 years you will have some maintenance issues. The standard rule of thumb is that one months rent a year should be set aside for CapEx.

 

3 - in terms of demographics, this I know very little about. I will say this - if KY becomes the next hot spot for retired New Yorkers, you bet your [!@#%^&^] I am dead wrong on this on. But something tells me I'm not wrong and that this land will be just as worthless in 20 years as it is today. And while at least the land that FD mentions in VA is near DC, putting Louisville and Lexington in the same ball park as DC is like putting an amstel light in the same category as a kilo of coke.

 

The Action 1 on the other hand will always be valuable as a piece of AMERICANA. Even if comis go down the drain and are pretty worthless, this will be one cool book that will keep its value - especially a true cgc 9.4. Superman is still THE most recognizable comic character behind Mickey and I see nothing to change that in the near or long term. To own the best of his first appearance will always be valuable and should appreciate at the very least at the rate of inflation.

 

I will say this - you have the potential to make this horse ranch work but for the time and investment involved it's not really a fair comparison to the Action 1 (assuming that an Action 1 in 9.4 exists and that you could get it for 1.8mm)

 

DAM

[dam60]

you know what this poll shows? The AMAZING eastcoast/westcoast mentality of this board. If I have only those two choices, I'm taking the land IN A HEARTBEAT. The farm is 60 miles from Louisville, 60 miles from Lexington, in a region that is growing at a very quick rate. I get 500 acres of prime land near the capitol of the state and the two biggest cities instead of a comic book? I'm there. I'll just sit back and wait for the development to come to me, and it will. You bet your [!@#%^&^] that in 20 years there'll be a line of people around the block wanting to buy 2.5 acre manor homes in "Donut Glen" or something silly like that.

 

And for those of you laughing, three words. Loudoun County, Virginia.

 

I'm with you completely on this. I'd rather be known as "that real estate developer from Kentucky" in 20 years than "the guy who gave up 502 acres of prime land for a comic book". Not to mention being known as "the guy who throws the best Kentucky Derby party every year". Even aside from the tantalizing investment prospects, what's so great about a comic book, even a NM Action #1, that's worth giving up 502 acres of rolling green, with a huge, beautiful house/guest home, private lake, etc.? Heck, I'd take the land even if it was in some totally inconvenient place like New Zealand and not the U.S.

 

New Zealand?

[DawgPhan]

anybody who is voting for the Action 1 is insane. Absolutely, completely insane.

 

Really? I took the poll as non-monetary and voted accordingly. I'd be the least successful owner of a horse farm of all-time. I wilt when I get out past Rte. 128 in Eastern Mass, I would absolutely wither living in Kentucky. Within a week I'd be ready to gnaw my arm off in order to get out of there. Plus, the closest I've been to a horse is getting out of the way of mounted cops in downtown Boston. It's just not a life that I'd want at all.

 

An Action #1, I actually already have an interest in and can ogle every so often at the bank while cradled in the loving grip of my type of civilization.

 

Money-wise, sure. But I didn't think the poll was about money. Give me an equivalent property somewhere in Boston, New York or San Francisco and I'll give a different answer

 

A 502 acre horse farm in Boston, New York, or San Francisco is going to cost a little more than 1.8 million..I would assume...I would almost say that all of the real estate for sale in all 3 of those cities would not total 502 acres...it might not even be close....but back on topic

 

Since I am currently in the market for a house I wold take the house...also I think that it would be easier to resell the horse farm at a profit as opposed to the Action #1, but money was not a factor in me choosing the house...

[rob_react]

anybody who is voting for the Action 1 is insane. Absolutely, completely insane.

 

Really? I took the poll as non-monetary and voted accordingly. I'd be the least successful owner of a horse farm of all-time. I wilt when I get out past Rte. 128 in Eastern Mass, I would absolutely wither living in Kentucky. Within a week I'd be ready to gnaw my arm off in order to get out of there. Plus, the closest I've been to a horse is getting out of the way of mounted cops in downtown Boston. It's just not a life that I'd want at all.

 

An Action #1, I actually already have an interest in and can ogle every so often at the bank while cradled in the loving grip of my type of civilization.

 

Money-wise, sure. But I didn't think the poll was about money. Give me an equivalent property somewhere in Boston, New York or San Francisco and I'll give a different answer

 

A 502 acre horse farm in Boston, New York, or San Francisco is going to cost a little more than 1.8 million..I would assume...I would almost say that all of the real estate for sale in all 3 of those cities would not total 502 acres...it might not even be close....but back on topic

 

Equivalent property in terms of monetary value. You really thought I meant a farm in the middle of Manhattan?

[Aman619]

whenever they knock down an entire city block, or most of one, I always fantasize about buying the land and just putting up a nice little suburban house! And landscaping all around me for "privacy". It would be cool to just pull up to my driveway on Madison and 52nd ST!!!

 

Honey Im home!!

Not too much privacy in the backyard pool though...

or sun...

but what the heck.

location, location. location!!!

[burntboy]

you know what this poll shows? The AMAZING eastcoast/westcoast mentality of this board. If I have only those two choices, I'm taking the land IN A HEARTBEAT. The farm is 60 miles from Louisville, 60 miles from Lexington, in a region that is growing at a very quick rate. I get 500 acres of prime land near the capitol of the state and the two biggest cities instead of a comic book? I'm there. I'll just sit back and wait for the development to come to me, and it will. You bet your [!@#%^&^] that in 20 years there'll be a line of people around the block wanting to buy 2.5 acre manor homes in "Donut Glen" or something silly like that.

 

And for those of you laughing, three words. Loudoun County, Virginia.

 

 

"DONUT GLEN" -

[uclapeterg]

must..resist..joke...here..

 

YOU - meaning the person that answered the pole. If you don't want either, then don't answer the pole

 

I have a feeling you've been stroking your boyfriend's POLE a bit too much.

[uclapeterg]

I concur.

 

anybody who is voting for the Action 1 is insane. Absolutely, completely insane.

 

I agree.

[uclapeterg]

I'm surprised that this question has really got people thinking. Good question.

[hobbes]

The farm. Definitely the farm. And I don't know a damn thing about horses.

[RS]

The Horse farm by far. After my horse CGG and Me wins the Triple Crown I will buy Action comics #1 1938 CGC Universal 9.4

[Aces]

Buy the farm.

 

Then take out a mortgage on it to buy the comic!

Rates are still low!