All Forum Posts by: Kim Anderson

727investments

So sorry... I had not been back to this thread, and so I didn't realize you had asked me a question.

It's been over a month now, but if you haven't gotten what you need yet, feel free to send me an email and I can get it to you.

I think Sage and Justin are talking about having a "legal" interest in the property (ie, you need to be a principal in the deal... meaning you have a contract on the property).

I've been told that if you collect any type of fee upon the sale of the property (without having a license or "legal" interest), then you are committing an illegal act. But I have no idea where exactly the law states this or how it is different in different states.

Hopefully some of the experts out there can weigh in on this.

we were referring to Stephani Davis who is located in Tampa

flip this wholesaler dot net is her blog

another angle to consider...

thanks

Kevin,

Welcome to the site. I've been on here for about a month now and have learned tons just from reading previous posts.

Joseph's advice is right on spot... checking out Steph's blog will be a tremendous help to you.

Where in Florida are you?

Dave,

Thanks much for the feedback. Understanding a lender's point of view on this is extremely helpful.

I used a standard assignment contract like Mr_Investor stated. It made reference to the purchase and sales agreement that I had executed with the seller; and it included a place to put the assignment fee, down payment your buyer gives you, closing date, etc.

Just Don, thanks for the insight and comments.

This parcel is located in rural central FL and all of the tracts surrounding this parcel are 5-10 acres… most with mobile homes, one with a SFH, and a couple are vacant. So putting up mobile homes is actually right in line with what the county would want you to do with this land.

And it was actually the county zoning administrator who said that that the zoning need not be changed. I explained to him exactly what I potentially wanted to do, and that’s what he claimed.

I did leave a message with the main person in the Planning Department earlier today. I need to ask her about the subdivision regulations, so when I do talk with her I’ll also be able to confirm (or invalidate) what the zoning guy told me.

You’re right, developing land isn’t something that is easy. I am just starting to get some preliminary information to see if this particular tract is worth pursuing.

Thanks Tod,

I guess perhaps that's what they were thinking... that the property would be worth more as a residential tract and that it would therefore be more beneficial to me. But I just couldn't see the reason of going through the trouble rezoning, so I was wanting another perspective.

I'm not sure about your rollback tax question. I'll have to check on that.

I am looking at a 120 acre parcel which is zoned Ag. I am thinking about carving it up to create 5 acre tracts to sell. Buyers could then put a mobile home on their tract and that would be consistent with the other smaller tracts surrounding this one.

I have been told that it would be a good idea to go ahead and get the parcel changed to residential zoning. However, when I spoke to the county zoning administrator, he stated that a mobile home could go on a 5 acre tract with the current zoning of Ag. Is there any valid reason for changing the zoning to residential if it is not necessary for the intended use?