All Forum Posts by: Mike Corrill
Mike Corrill has started 1 posts and replied 11 times.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Jon Huber:
@Mike Corrill How you can "utilize" the land can be restricted to what the parcel is zoned for. Zoning can include residential, agricultural, commercial, industrial, etc, etc. How do you plan to "utilize" the land?
Ideally, I'd like to find something zoned for mixed use. Does that help you answer my initial questions?
(What's wrong with the word 'utilize', by the way?)
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Ben Zimmerman:
People are making weird assumptions because you are being purposely vague about why you want this property. You don't want to rent it, and it doesn't sound like you want to live there, so what do you want it for? If you want to "personally utilize and keep" a property and don't care about the location or the price, then my first assumption is you want a place to make meth or some similar activity.
Actually, I'm not being purposfully vague. That's just another weird assumption you people keep making. I'm being purposefully simple in my query.
Nothing in anything I've said implies I don't want to live there. That's another weird assumption.
Nothing I've said implies illegal intent. That's another weird assumption.
If you can't answer the simple question, all you have to do is ignore the thread.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
People seem to be making weird assumptions about my simple request. And others are upvoting those weird assumptions. Can't help but wonder if they even paused to think before replying, or bothered reading any of the followup posts...
Thanks to those of you with better heads on your shoulders for answering my questions.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Theresa Harris:
Originally posted by @Mike Corrill:
Originally posted by @Mike Dymski:
Hire a real estate agent.
Thanks for the reply. That's pretty much what I figured, but I've never bought property or dealt with an agent before. Should I expect to pay any fees up front, or do I pay at closing time, or...?
If you are investing in property in another town, you will need a good property manager. Find out how much they costs as they are often a % of the rent plus fees for renting the property. For purchasing, check the area where you are buying it. In Canada, some of the provinces (and areas) have additional taxes associated with purchasing a home. You will have lawyer fees, plus closing costs (property taxes, etc that are paid annually). the realtor gets paid by the seller via the commission.
Thanks for the info. That's exactly what I was hoping to learn.
I really don't have a location preference.... I'm open to wherever I can find affordable property that suits my personal needs. My needs are few, and they're relatively simple, but they're not the kind of thing I've seen mentioned in the filters of any real estate searches. That's why I plan to hire someone to find the place for me.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Brandon L.:
@Mike Corrill maybe something to consider is that the property will attract your tenant. Property on the lower end of the scale will attract tenants who are at the lower end of the scale. If there are the type of customers you want to service continue on, if not, it may be time to rethink this plan
Thanks, but I'm not looking for a tenant, or an investment property. I'm looking for land to personally utilize and keep.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @James Wise:
Originally posted by @Mike Corrill:
Originally posted by @James Wise:
Originally posted by @Mike Corrill:
Hi, everybody.
I have no idea how to go about this. I'm thinking of buying some cheap property that meets a few specific requirments. I don't really care about the location or even the value.
I guess my question is: How do I go about finding this property? I have virtually no free time, so I was thinking of paying someone to find it for me. Is there a standard process for something like this? If so, is there a standard fee, or commission, or what?
Any guidance is appreciated.
You're speaking in riddles dawg. What specifically are you looking to do?
I'm looking for land to personally utilize and keep.
You want to contact a Realtor & give them your buying criteria. From there they will set you up on an MLS drip that sends you properties that meet said criteria.
Thanks. That's what I'll do.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Marc Winter:
Kinda sorry to say, but this reminds me of the old story about JP Morgan. One day, when he stopped on the street to get his shoes shined, the shiner, not knowing who his customer was, related a "hot stock" tip.
The next day, JP Morgan started selling off large parts of his massive stock holdings. The year was 1928.
I don't see the relation. I'm simply looking to purchase some property for myself.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @James Wise:
Originally posted by @Mike Corrill:
Hi, everybody.
I have no idea how to go about this. I'm thinking of buying some cheap property that meets a few specific requirments. I don't really care about the location or even the value.
I guess my question is: How do I go about finding this property? I have virtually no free time, so I was thinking of paying someone to find it for me. Is there a standard process for something like this? If so, is there a standard fee, or commission, or what?
Any guidance is appreciated.
You're speaking in riddles dawg. What specifically are you looking to do?
I'm looking for land to personally utilize and keep.
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Mike Dymski:
Hire a real estate agent.
Thanks for the reply. That's pretty much what I figured, but I've never bought property or dealt with an agent before. Should I expect to pay any fees up front, or do I pay at closing time, or...?
Post: I'm clueless, and have weird needs.
- Posts 11
- Votes 0
Originally posted by @Scott Passman:
@Mike Corrill What is your motivation for this? Quite frankly, if you don't care about the location or the value then real estate is likely not for you. Those are two very key components. Perhaps if you really want to get involved with real estate you might want to consider looking into a REIT rather than physical properties so you can be hands off.
I'm not looking for an investment. I'm looking for something I can personally utilize and keep.