All Forum Posts by: David Edwards

@Bab Adetiba how did this end up working out? Im looking at doing something similar but for our own home. I imagine most of what you learned would be transferrable. 

@Curtis Bidwell thanks for the tip. I’ll be reaching out to him shortly!

Afternoon BP,

I'm looking for a land broker in the Seattle region, more specifically the east side near 90 who specializes in semi rural sites and has a working knowledge of the various challenges associated with developing a SFR on these types of properties. To sweeten the pot we're (wife and I) looking to spend around 100k on the dirt and are looking for options including seller financing. If anyone knows someone who might be able to help us out send them my way.

Any and all info / references would be appreciated.

Best,

Dave 

Hello BP, 

Im looking to self develop a home for myself and am running in to a wall in the finding the dirt portion of the process.  Since Im looking for a needle in a haystack I thought I'd turn to BP and see if any of you fine folks might have (or know someone who has) some property you'd be willing to part with. 

The idea is if we can get into the land reasonably we can get started on the build process and the value created will be enough to get us out from under the construction loan and get the land paid off with room to spare. As an Architect with construction experience this seems reasonable but I realize this route isnt for everyone. 

Now for the details:

Looking for: 1-3 acres on the east side of Seattle preferably near 90 (think issaquah or at least before North Bend), must be zoned for SFR and must be a buildable lot (ability to hook up to utilities or place septic / well on site)

Budget: 100k +/- 

Terms: Seller financing, interest only (rate up for discussion we want this to be a win/win) w/ baloon payment in 3-5 years.

If you know of any spots that fit this criteria or you know of someone who might please send them my way. 

Thanks,

Dave 

@Jack Butala This post is a couple years old but I imagine the info is still relevant. Are you still using that service? Would this be your reccomendation if someone was looking for land for a SFR project as opposed to a commercial development?

Thanks in advance,

Dave 

@Paul Reiland if you pm me the addres I can look up the zoning and let you know whats allowed on the site in its current zoning. My understanding is that Minneapolis has begun the process of getting rid of single family zoning all together which would potentially allow you to get a duplex or more on the site but I'd want to confirm that. MSP is a pretty progressive place so I dont think adding a duplex or even a 4plex to a single family neighborhood would get a huge amount of pushback from the neighbors but you want to do everything respectfully. Developers already have enough of a bad rap  

To @Lynnette E. 's point squeezing the most you can on a site might not be the best use but that would all have to deal with the surrounding context.   

Welcome Trey, there's a great group of helpful people on this site. Let me know if I can be one of them

10% on all collections (fine print that i missed when i read the original contract). I generally think its well worth the 10% to not have to stress about chasing tenants for $$ or responding to maintenance requests. That first month when they've taken in the securtrity deposits and cleaning fees and whatnot are something you should account for. 

@Jeff Brower This was great! I've gotta get on those mailers. Your point about not waiting (read dragging your feet) for the perfect deal while plenty of decent deals could help to lower your monthly rent really hit home. 

Thanks again for the share!

Welcome (sort of)  @Trevor Asay I'm also located in the PNW and have recently focused my efforts on out of state markets and working with other investors. In my day job I'm an Architect so if you have any code or design questions about things local or otherwise I might be able to help you out.