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T
the_clockwork
Guest
I am in the process of maybe buying a large lot of land (450+ acres) and I was wondering what are some of the things I need to look for, also it is not zoned
any advice?
any advice?
Any of it protected? Like a lower damp elevation they can claim is marsh land and keep you from developing on it?
Razorguns
Well-known member
lots of speculators with land, that ain't being sold - yet they have to continue making monthly payments on.
if ur being land - ur just speculating. lotsa people speculated on housing and getting butt-fucked now.
unless u know something others don't - stay away from land.
if ur being land - ur just speculating. lotsa people speculated on housing and getting butt-fucked now.
unless u know something others don't - stay away from land.
T
the_clockwork
Guest
Smurfy said:
several people are going in on this and splitting up the land but it's all or nothing and I graduated from drug counseling last year, I am a licensed psychologist focusing on social habilitation and relapse prevention now, although I am getting my feet wet in other scenarios lately..
It is not located in a flood plain and no marshes.. I will check into what areas can't be developed though.
The back end of it is right on an major insterstate.. it is on the outskirts of the city and I plan to sit on my section for at least 10 years.. 1 mile east of it is a huge medical facility and 1 mile west of it is housing / commercial.. the area is blossoming like hell and will be fully developed in under 10 years w/ this huge medical facility that just opened.. land owner is a family friend and has owned it for decades, didn't do anything w/ it, been in his family forever, use to farm it
T
the_clockwork
Guest
Razorguns said:
it wouldn't be something I really "knew" but more of a deal..
I would buy my section in straight cash from an inheritance I received long ago
do you think it would be more wise to invest in something else? (I understand you don't know the city or the whole situation but from this reading, what would you say?)
army_stud
New member
the_clockwork said:
I would no doubt buy it, but lease it out to a farmer for the time being. That way you'll be making some kind of profit. I've invested in a lot of land...It's the one thing they're not making any more of.
Land prices continue to rise as more and more people are wanting little 3 acre houses with a horse. Eventually you'll be able to section off the land and sell them as plots. That's where the real money is.
What kind of water access does it have? If it's sitting on an aquifer (and IF that's it's ONLY resource) and there's already many developments surrounding that parcel, which taps into it, you might have a problem in the future with a moratorium on building. Water resources, such as this, can only sustain so much.
T
the_clockwork
Guest
Razorguns said:
no definately not my career, I am moving out of state and would like to just sit on the land, leasing it out somehow and just letting the value rise until the area is more developed
BNG
Well-known member
Water/mineral rights, easements, right-of-ways, surveys, ect. Land is a good investment although look at it as a long term. Just watch that you can cover payments, taxes, ect. while waiting to turn it. If you haven't done it already, make sure there's a contract in place with all participants with the stipulations clearly outlined. When a group makes an investment purchase they all won't have the same idea as to the outcome. If you want to divide your 50 acres into 5 acre ranchettes to appeal to yuppies and the next guy wants to put an office complex on his dirt it will have a drastic effect on each other.
T
the_clockwork
Guest
BNG said:
thank you that is very good advice.. as for the contracts, I will be purchasing the land 100% in my name and then selling the parts to a friend and transfering the deed to his name so it will be 2 sales not really going into one together
T
the_clockwork
Guest
mightymouse69 said:
land where I live is no where close to what you guys probably pay.. I'm from midwest!
bw1
Banned
the_clockwork said:
We do land development. You can take yor money and invest it in a development project:
Here's an example: One of our projects
Say you invest: $500,000
Investor rate: 15%: Annual return Paid monthly, this is paid interest on your money
Closing date: 7/31/07
Borrower: Be*** Gre*** Partners, LP
Guarantors: Be*** Gre*** Partners, LP and Bl** Su***** Development, LLC
Purpose: To provide financing for entitlment of a 12,000-15,000 sf retail center in Or***** CA
Aprraised Value: $4,5000,000 hypothetical value at a 6.5% CAP with $2.00 sf NNN lease
Collateral: The future value of the property and personally guaranteed by Be**** Gre**** Partners, LLP
Investor term: 18 months
Return Reserve: Interest only, paid monthly
Payment Guarantee: All partners of Be**** Gr**** Partners, LP
Min Commitment: $50,000
Exit Strategy: Investor lenders will be repaid once the construction loan is secured
So you can invest in a project like this or set up your land in this scenario (if development is allowed) collect 15% interst on your money monthly, still have you initial investment upon exit which you could 1031 into another project and keep it rolling. You could even take a loan to buy your property at say 10% or so, still be 5% to the good on your investment and right the interest of against your income on your investment.
PM me I'll send you some general info
yonkers weights
Banned
Where is it? Why is it available? What is the price? What was planned there? Why did it not happen? Who owns it now? For how long? What is it zoned for? Can you get it rezoned? Access roads? Overall access? Roads, water, electric, etc...
What are your plans for a site this big?
What are your plans for a site this big?
T
the_clockwork
Guest
yonkers weights said:
lol all thesse questions are answered in my first and 2nd posts
nothings been on it never planned to.. been in a family forever
Grumpy Old Man
Grumpy Old Biker Bastard
I think marijuana zoning would work, that way you can develop people to counsel.
Can you do that? I have a really nice bridge in Brooklyn you might want to consider! It was freshly painted in 1947.
Can you do that? I have a really nice bridge in Brooklyn you might want to consider! It was freshly painted in 1947.
