Vacant Land Due Dilligence?

Question

Does anyone have experience or advice how to properly vet and research what land to buy?  Looking to get into purchase to later lease/flip/sub divide the land.

I have some cash on hand, not enough to purchase even the cheapest house (as they will need work, and $$ gets sucked up with closing costs.  Land holding/flipping can require minimal buy in, and can be done remotely, but I still don't know HOW to learn what I need, WHERE to research or really WHO to pursue.   Any help is appreciated.

THANKS, and happy hunting!!

Eliot

Eliot Liples · Answer

Thanks so much Linda, this is a big help!

Linda Hastings · Answer

@Eliot Liples There are several educators in the land flipping space, most of whom also have podcasts in addition to educational material. @Seth Williams, Land Academy, the Land Geek, Jack Bosch (not sure if I got the spelling right), Casual Fridays REI, to name a few. Each has their own different spin on land flipping.

If you are looking for free resources to get more info, in addition to the podcasts, I’d recommend you check out Seth’s blog https://retipster.com/. He has a ton of really good, free content. On Episode 14 of his podcast (https://retipster.com/ret014-e...), he did an interview with EB Farmer, who does a lot of subdividing. You might check that out if that is the angle you want to pursue.

Eliot Liples · Answer

Thank you for the info Amy and Mike!

Mike Cumbie · Answer

@Jay Hinrichs that is

Mike Cumbie · Answer

Few things to look for. Does it have a DEC file? Regulations for land in that town/county (What do you need to build). Available utilities and cost to get them to where your needs are met. Engineer to draw up plans and explain what approvals you are going to need for subdividing. Flood Plane? I would bet @Jay Hinrichs could write a book on it.

Amy Aziz · Answer

Hi @Eliot Liples! I just started the land business a few months ago!  I was taught to pursue vacant land by picking a county and reviewing its specs then mail out bulk letters.