Buying and selling raw land

11 Replies

To all my land pros. Does anyone have other methods of finding good deals on land outside of searching eBay, backpage, and other publicly marketed sites? Also, before reselling plots what do people do to increase value without breaking the bank? Any insight would be great! Have a great weekend everyone. 

@Ross Benedict  

I start by looking on MLS (I'm a realtor) but you can also research county GIS sites. I'm not familiar with Broward County's site, but I would guess it's fairly sophisticated. As far as MLS access, find a hungry (new) commercial realtor that can do detailed research on recent sales, prices, etc. I am also a civil engineer and my partner is a land planner, so we do detailed due diligence and site planning to determine highest and best use. We then prepare concept site plans and marketing graphics so buyers can conceptualize the finished development. Basically this is all the sweat equity we put into the deal to "entitle" property.

You may not have these skills but there are a lot of hungry planners and engineers who may work with you on an upfront cover my cost contract, with some equity or backend premium.  I market this service to my clients as "value added service"

If you are interested in some examples or samples, let me know.  We just closed a deal this week.  You can find the case study under "Real Estate Success Stories" titled Land Deal Success in Jacksonville.  I don't know how to link you to it.

Check out Podcast 39.  It talks a lot about vacant land.

have you tried ************** ?

********** dot com 

One popular way many of us in the vacant land business find properties is with direct mail. These mailers can be either letters or postcards and are usually mailed to out of state owners who are delinquent in their property taxes. You can often find these people directly from the county or there are also internet service companies that provide this information for a fee.

As far as increasing value, a lot of that can be how well you market the property. Know how you are going to sell it before you buy it. You can also provide simple things like a survey. Another good way is to get it rezoned to a higher and better, more valuable use.

Yes, I have done very well with lands, of course best time is to purchase when the market is down. 

use Google earth to locate them. and than get the real estate information through a Realtor or a title company if you have access to one.  if you need to know more just say it and will explain more.

@Ross Benedict we talked briefly already, but go to the gis and scan it for large parcels or empty ones, that may have been inherited and them combine them. ALot of times someone had plans to develop this 20 years ago and they dont know what to do with it now. I have also done JV deals on land, where you get an option for a set price, then you will get them to agree to financing, then flip it to a developer. Land deals should not be your only thing though, unless you have been pockets you need the income of rentals to sustain the negative cash of land. Think big pay day in 5 years, large sucking sound of cash, taxes, mowing ect for 5 years.

@Morry Eghbal  , thanks for the info. This may be a stupid question but how do you use google earth to find the plots? Or is it you use google earth to look at the plots once you've found them for sale. I'm currently trying to find ways to find land for sale without using ebay, craigs list, etc. (although these resources are fantastic, i'm simply trying to gather as many different resources as I can at this point)

@Morry Eghbal @Jeremy Tillotson @William Byers @John Becker 

I’m a California real estate broker, this thread resonates, I do value your time.

Land infill and development primarily re-use (commercial – residential)projects is the niche of interest.

The current project I am exploring is a 5 acre raw hillside view lot, the lot is in a built out established bread and butter neighborhood. My interest is to entitle and create tentative parcel map.

Selling off the lot(s) to developer(s). As you all well know this is not for the faint at heart, and so for success, At this point I am in the process of tying up the property with an option (tie don’t buy). Not knowing how many lots can be put on this property makes offering a purchase price difficult.

How do you get a guest estimation for an initial lot count, do you figure it of a 10% 15% or 20% land loss to environmental, road ingress/egress, then divide that by the base zone (the per lot minimum) / total available land ?

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