Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

13
Posts
6
Votes
Aater Suleman
6
Votes |
13
Posts

Need opinion on a ranch property

Aater Suleman
Posted

This is a property I can purchase but unable to decide if I should or not. Its a farm house on a 17-acre lot. I have found everything to be positive: 17 acre flat lot, 1100 ft county road frontage, future highway expansion running close, good quality house and many improvements like RV parking, an oversized barn, many small sheds, a guest quarter, etc. Light to No deed restrictions. City water available. City sewer about 2 miles away but expanding this was rapidly. 

Given all of this, my plan  live here for 5-7 years and once sewer and the highway arrive, develop or sell. I expect good returns if this plan works out. 

Now the bad part: The property is NOT in a FEMA flood plain however, close to the North eastern corner of the property, there is a wetland that flows flows when it rains heavily. See attached picture. It seems about 70 ft wide and 1-2 ft deep. According to the owner he only sees water there once every few years. They are not required to buy flood insurance but they keep it and pay $300/year.

I do not know how to change my analysis of the market value to reflect this wetland issue what real impact will it have on my plan to subdivide 7 years from now. This is my first project of this magnitude and I am loosing sleep over it. Any guidance will be much appreciated.

Loading replies...