All Forum Posts by: Anton Luse

Quote from @Robert Ellis:

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @Robert Ellis:

Quote from @Chris Seveney:

Quote from @Kwanza P.:

Anyone have experience or advice for buying land ? Especially land where you’re most likely to be on a septic system (on purpose because you love nature and that’s just how it is). 

Any tips, resources, links, on buying land ? Then building a house on that land? 

Kwanza 

 If you are buying land for septic, you will want to do proper due diligence to make sure you have water available and also the property can support a septic system and a size that matches the size of the home. Even if it can, depending on soil conditions it could be a traditional system or an alternative system which can cost 5x more. Always ask the seller if they have done any perc test on the property.

 anyone buying land with private utilities is doomed. no institutional level interest. I tore down 3 houses for a builder that were less than 10 years old and they used to do "build on your lot" and tore all 3 houses down it was on a ground lease. 

I would not say they are doomed at all. Most who build are not building for institutional buyers as they make up 1-2% of all home purchasess. I have built and/or developed as part of a team more homes than I can count on septic systems - especially whenI was living in Massachusetts as many of the communities do not have public sewer or water. For example two of the W towns (Wayland and Weston) in Massachusetts are on private services. Check out their home prices. 

i am sure @Jay Hinrichs has done a good amount of development on private utilities as well

Chris absolutly as an old land guy it was rare to have public utls at least in rural to semi rural settings.  Also on land leases  a lot of what I fund in baltimore ( those row houses) they sit on leased land.. Just like good portions of Hawaii. 

 Jay, I know you aren't funding deals with private utilities? If I brought you a deal and said it had private utilities you'd reject that in one minute. 

I dont think so 1/4 of my business is funding land flippers and other than maybe public water system ( many times private HOA owned) its all well and septic.. We just closed on one I funded in Loudan county VA .  Toll Brothers bought it.. for many many millions.. and this was all well and septic. Each lot has its own well and of course septic system.. The other two I have going in the same area ( one sold to Lennar and the other to Toll) are in city proper with full city utls. Once Toll goes public with their marketing I will post it on success stories here on BP for folks to check out.. If timing was different I would have loved to build that project out personally its 35 lots all estate sized with a big lake etc etc. The type of site we just drool over .. Toll will knock it out of the park with that one.