Posted by jack E on July 03, 2008 at 15:13:47:
The biggest problem I have run into so far is the liability issue. Several seem to be overly concerned with liability, if any thing happens. Even with corporation ownership, they are still concerned. Could anyone enlighten us on this aspect?
Cemetary Investment - Posted by jack E
Posted by jack E on June 27, 2008 at 14:12:55:
I have not seen any postings on investing in Cemeterys. The two main essentials are here land and tenants. Does anyone here have any experience in this area? Even at about a thousand dollars per plot and about a thousand plots per acre, it would seem that it could be very profitable. It would vary by location and local laws, but so does any other R.E… I have an opportunity to do so in Oklahoma. What should an investor look for and what should they look out for? Any comments would be appreciated. Serious please.
Re: Cemetary Investment - Posted by Rick
Posted by Rick on July 01, 2008 at 16:32:02:
I Bet You’ll Have People “Dying to Get In There” !
Put them on the “Lay-Away Plan”!
$35 amonth,…for the Next 1,500 years!
Re: Cemetary Investment - Posted by Sailor
Posted by Sailor on June 27, 2008 at 19:19:08:
Check your state laws before doing anything else. That convinced me that this was not an option for me.
Tye
Re: Cemetary Investment - Posted by Killer Joe
Posted by Killer Joe on June 27, 2008 at 16:33:20:
Jack,
Every profession known to man has trade organizations and magazines associated with, and catering to them.
If I were you I would start searching online, or visit another cemetery owner and ask them to point you in a direction.
The one thing I would be curious about is how much money exists in the ‘maintenance fund’ to care for the current ‘occupants’. Someone has to keep the grounds up, and if the seller takes all the collected money with them when they leave, you’ll be left with the unfunded burden. HTH
KJ
Re: Cemetary Investment - Posted by jack E
Posted by jack E on July 02, 2008 at 14:47:54:
I knew I would probably get some jokesters, so that is why put serious please. I appreciate your humor Rick, but seriously, do you have any comments that could help me out?
Re: Cemetary Investment - Posted by jack E
Posted by jack E on June 28, 2008 at 17:01:59:
I have and found very little restriction on private or commercial cemetarys’ What in the laws convinced you?
Re: Cemetary Investment - Posted by jack E
Posted by jack E on June 28, 2008 at 17:09:00:
Killer Joe. Very good advice. I will do so. Maintenance or Perpetual Care Fund is an unknown here. How much is necessary and what it should cover and how it can be invested to make money is an unknown also.
Re: Cemetary Investment - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on June 27, 2008 at 17:04:06:
As in every special use property, whether a bowling alley, oil well, assisted living facilities, it’s pretty darn important that a prospective buyer understand that, largely, what you’re buying is mostly a business.
A cemetary is a long term deal and I don’t think it’s for the faint of heart. In CA, we’ve seen increased litigation due to “problems” with burial, services, security issues, etc. I can’t imagine anyone who would voluntarily try to get into this business without some strong background.
I think the trade magazines is a great idea, too.
Lastly, my family on my Dad’s side is in the ambulance and mortuary business in a large way. I doubt that they’d miss a chance to make a buck by completing their vertical integration strategy with cemetaries, and they’ve never shown any interest in this. That doesn’t make it true, but it sure makes a strong statement about no missed profit to me.
To the original poster, let us know what you end up doing; this will be a first time at creonline.com
Re: Cemetary Investment - Posted by Rick
Posted by Rick on July 02, 2008 at 16:42:06:
No, Jack…I was just playing…I meant No Offense…
I Do wonder though,…if there’s ALOT of Regulation and Red Tape associated with “Regular” Cemeterys…
If you are near a Larger City,…what about a
"Pet Cemetery? Just a thought…
Rick
Re: Cemetary Investment - Posted by Sailor
Posted by Sailor on June 28, 2008 at 17:38:44:
Acreage requirement + perpetual care trust fund.
Tye
Re: Cemetary Investment - Posted by jack E
Posted by jack E on June 28, 2008 at 17:20:26:
Rick. Thanks I will keep all posted. Could you ask your Dad’s family why they haven’t and what do they think? I would appreciate it. The opportunity I have is a family opportunity also and the land is at no cost. There is sememential value involved as well as a significant historical one. There is also a private cemetary ajoining it. I well know the problems that may be involved in dealing with relatives, but if I do not do it no one else will.