Best way to buy vacant lots

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Best way to buy vacant lots

Rachel Murphy
Member since 2021 · 21 posts · 7 votes

My family and I have hand built one of our own houses and several other structures. We are wanting to build post and beam (similar to timber frame) houses that we can use as STR. Our area is growing like crazy (Milton/Pace, Florida) and there are very few hotels in our town and they aren't that great, and only a couple of Airbnbs.

So the thought is we can build one house, refinance it, and then use the money to build the next one.

Questions:

What would be the best way to buy lots? We would like to build near our house just to make it easier to work on. Should we just drive around, write down the vacant lot addresses and send the owners letters? Is there a more automated, less time-consuming way to do this? Do any of you have any template letters that we could send to owners?

Thanks so much for your help!

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  • Jeff CopelandBusiness Member
    Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
    4y

    The "driving around" approach can be tough because not all vacant lots have physical mailing addresses. You may have to cross-reference the map location using the Santa Rosa County property appraiser's website. And yes, then you would contact the owner and ask them if they have any interest in selling. 

    Here's a template you can use free of charge:

    "Dear _____,

    We may be interested in purchasing your vacant lot at ________. Please let me know if you have any interest in selling this property or others in the area.

    Thanks,"

    You can also work with a local realtor on a search for vacant land listings, but of course this will only get you the "on-market" inventory, not the "off-market" possibilities. 

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y
    Quote from @Rachel Murphy:

    My family and I have hand built one of our own houses and several other structures. We are wanting to build post and beam (similar to timber frame) houses that we can use as STR. Our area is growing like crazy (Milton/Pace, Florida) and there are very few hotels in our town and they aren't that great, and only a couple of Airbnbs.

    So the thought is we can build one house, refinance it, and then use the money to build the next one.

    Questions:

    What would be the best way to buy lots? We would like to build near our house just to make it easier to work on. Should we just drive around, write down the vacant lot addresses and send the owners letters? Is there a more automated, less time-consuming way to do this? Do any of you have any template letters that we could send to owners?

    Thanks so much for your help!


     you can get lists from sites like propstream or list source and send out mailings to the vacant property owners. You can also use datatree as well which can get you the info pretty easily.

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  • Rachel Murphy
    OP
    Member since 2021 · 21 posts · 7 votes
    4y
    Quote from @Jeff Copeland:

    The "driving around" approach can be tough because not all vacant lots have physical mailing addresses. You may have to cross-reference the map location using the Santa Rosa County property appraiser's website. And yes, then you would contact the owner and ask them if they have any interest in selling. 

    Here's a template you can use free of charge:

    "Dear _____,

    We may be interested in purchasing your vacant lot at ________. Please let me know if you have any interest in selling this property or others in the area.

    Thanks,"

    You can also work with a local realtor on a search for vacant land listings, but of course this will only get you the "on-market" inventory, not the "off-market" possibilities. 


     I meant drive around and then look up the lot on the property appraiser's website for the owner's address. Sorry I should have explained that better. We do have a local realtor who we love, just trying to figure out how to find stuff that's not currently listed.

    Thanks for the template!

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  • Rachel Murphy
    OP
    Member since 2021 · 21 posts · 7 votes
    4y
    Quote from @Chris Seveney:
    Quote from @Rachel Murphy:

    My family and I have hand built one of our own houses and several other structures. We are wanting to build post and beam (similar to timber frame) houses that we can use as STR. Our area is growing like crazy (Milton/Pace, Florida) and there are very few hotels in our town and they aren't that great, and only a couple of Airbnbs.

    So the thought is we can build one house, refinance it, and then use the money to build the next one.

    Questions:

    What would be the best way to buy lots? We would like to build near our house just to make it easier to work on. Should we just drive around, write down the vacant lot addresses and send the owners letters? Is there a more automated, less time-consuming way to do this? Do any of you have any template letters that we could send to owners?

    Thanks so much for your help!


     you can get lists from sites like propstream or list source and send out mailings to the vacant property owners. You can also use datatree as well which can get you the info pretty easily.


     Thanks! I'll check those out!

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