All Forum Posts by: Charlie Van Norman

@Jay Hinrichs Thanks, excellent resources, and interesting river anecdote! Water rights is huge, I'll definitely factor this into my thinking. I guess $50/acre isn't too bad. ;-]

May I ask when you started buying land like this and learning about these sources? I see it says Broker by your name, do you help others buy and sell large acreage?

@Jim K.hahahaha I hadn't thought of that particular strategy ...

There are many things one could do with land. Maybe I would build a small city, a vacation spot, a theme park, or a private sanctuary. I'm not about to buy it tomorrow - rather, over the next 50 years I would like to experiment and develop many things on different plots. Today I'm most interested in gaining perspective on the space.

Hello BP!

I am researching the best way to get land - a LOT of land. I can easily google for 50-200 acre plots of undeveloped land all over the U.S. for under $100k, but I'm thinking there's another level of scale I'm not seeing, such as government grants, auctions, etc.

Could I buy 2 million acres for $0.10/acre, for example? ($200k) I don't care where the land is or how undeveloped.

What are some good resources to begin investigating if I want to obtain large plots of land, possibly unconventionally, for the cheapest possible on a per-acre basis? I've found countless auction sites but it's a bit messy, and I am wondering if there are government sources of information that I'm missing.

Looking especially for knowledge and experience from developers. ;-]

Thanks in advance!!

@Marco Morales Thanks, this seems like a more "mainstream / normal" option, and I believe it is a good one. I may pursue this when I have more capital to obtain / rehab a 4 - 10 unit property near a campus, like this one:

https://www.redfin.com/IL/Chicago/6101-S-Kenwood-Ave-60637/unit-1S/home/26781542

Update: I did an experiment by listing 3 Craigslist ads for my house (one in Evanston, Bridgeport, and Woodlawn):

https://post.craigslist.org/u/To_X34CL6RGtVIXhQdSI...

Based on only one response after 4 days for all 3 ads, I am not enthusiastic about the appeal of this type of house.

Update: I did an experiment by listing 3 Craigslist ads for my house (one in Evanston, Bridgeport, and Woodlawn):

https://post.craigslist.org/u/To_X34CL6RGtVIXhQdSI...

Based on only one response after 4 days for all 3 ads, I am not enthusiastic about the appeal of this type of house. 

I'm thinking of buying a 4-5 BR property near Bridgeport or Evanston in the 300k range, and would consider other areas too if they're close to Universities. My plan is to turn the house into student housing and rent on a per-room basis. I would live in the property at first.

Does anyone have experience house hacking like this? I have run a house before as well as an apartment complex, so I'm aware of the overhead / maintenance stuff -- looking for more specific experience with students or with house hacking in Chicago.

ROI looks to be the highest with this setup, since rooms are renting from 300-600 each in these areas for students. As an investor of course I'm looking for my highest ROI, and i'm still early in my analysis.

Thanks in advance!

I'm thinking of buying a 4-5 BR property near Bridgeport or Evanston in the 300k range, and would consider other areas too if they're close to Universities. My plan is to turn the house into student housing and rent on a per-room basis. I would live in the property at first.

Does anyone have experience house hacking like this? I have run a house before as well as an apartment complex, so I'm aware of the overhead / maintenance stuff -- looking for more specific experience with students or with house hacking in Chicago.

ROI looks to be the highest with this setup, since rooms are renting from 300-600 each in these areas for students. As an investor of course I'm looking for my highest ROI, and i'm still early in my analysis.

Thanks in advance!