All Forum Posts by: Mike Corrill

@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?

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.  

 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.

@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

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.

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.

 You're speaking in riddles dawg. What specifically are you looking to do?

Hire a real estate agent.

@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.