Plainview, TX · Member since 2016 · 14 posts · 1 vote
Hello all you raw land investors. I am considering getting started in raw land investing. I have a few questions for getting started.
I understand that getting the delinquent tax list is the best place to get started. My first question is, once you get the list, the properties are listed by their legal descriptions. What is the best way to perform due diligence on the property?
1. How to view the property on google earth or other tools, based on a legal description?
2. How to figure out what market value is?
3. What to look for in a property, and what properties to run away from?
4. Best types of properties to get started, i.e., large rural parcels, or small urban plots?
Also, any other valuable tips/advice for a new investor on a tight budget would be much appreciated.
@Bryan Hudspeth - I've got a ton of info I can send your way. If you want to shoot me a message, I'd be happy to give you some more details on how you can address these things.
Consultant · Ball Ground, GA · Member since 2015 · 228 posts · 100 votes
9y
Bryan,
1. in order to get the address/plat from a legal description, you need to goto the county tax assessors web site and GIS site should be able to help you get an idea of where the property is located.
2. Market value is sometimes difficult to come up with. You can start with the Assessed value from #1 and it can help but you really need to look for the zillow value or trulia value of a like sized property.
3. You don't want to own a ditch, a road, power line right of way, etc. It is really up to you what risk to take. You might want a lot in a war zone and if that's your target then go for it.
4. Start with what you know you can sell. I am in the East but some people like to own Desert property. Who knew?
BONUS - At some point you need to take a RISK. You buy with the intention to sell. You have to take action in order to see the reward.