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All Forum Posts by: Dax Mickelson

Dax Mickelson has started 6 posts and replied 24 times.

A good agent for me is one who adapts their abilities to what I need.

For example, I don't want to continually receive unrelated MLS entries over and over again. I understand it take a little bit of time to know what I'm looking for but they should adapt quickly.

This adaptation is a 2-way street and they need to also be able to "steer" me towards the right investments for the given target area and/or type of real estate.

Post: Subdivision Development Costs

Dax MickelsonPosted
  • Developer
  • Southern Idaho
  • Posts 24
  • Votes 8

First, thank you for the detailed response!  Here are my thoughts/comments responding to your comments.

Regards to your subdivision ideas/options:

* I am envisioning this property using your "a" idea. My thought is to put in a bunch of duplexes since my city comprehensive future plan mentions more multi-family affordable housing.

* I don't know what you mean by "double access entry ways" (in your "b" idea).  The lot isn't square, it is more 2:1 rectangular.  So, if you mean to have a road running up each side and no "interior" roads I think I could manage that.  There is already a 1/2 road on one side and a road easement on the other side.

* Your "c" idea is my fallback plan.  I might just get it all platted and cost calculated out.  Then approach local builders to sell off lots to.  We are in such a crunch for housing here I don't think this would leave me hanging.

From my current research:

* The water main goes right in front of the property, and has multiple hydrants. (And on my side of the road.)

* The sewer is on the other side of the street but does run along the side of the property.  However, due to my researching it appears some sewer department services (an uplift station) will need to be upgraded.  (I can't imagine that will be cheap.)

* I live in a desert (high desert) so we don't have excessive storms.  I don't think I'll need drainage captions ponds.  Who would I ask that of?

* Power and Internet are running across the front of the property.

* There is a full road across the front, and a 1/2 road along the side.  (The 1/2 road will need to be completed by me, should I get the land.)

All that said, My concern is that my $200,000'ish funds for development might not make it!  Even if I do phases (build out close to where the utilities are now then repeat) I'm worried of running out of money.  Any thoughts on how to ensure I don't end up there?

Post: Dead Links in "How to Invest Online Bonus Links.pdf"

Dax MickelsonPosted
  • Developer
  • Southern Idaho
  • Posts 24
  • Votes 8

Purchased "How to Invest in Real Estate" and the bonus content PDF is just a list of dead Vemeo links. :-(  Does someone know where the links have been relocated?

Post: Subdivision Development Costs

Dax MickelsonPosted
  • Developer
  • Southern Idaho
  • Posts 24
  • Votes 8

I'm trying to tie up a 20'ish acre lot to do divide into a subdivision.  It is close to utilities (there is a subdivision adjoining the property).  It is within city limits too!  I've done research on the steps to subdividing but what appears hard to find is the costs of such a project.

Once I acquire the property I'll have to start from the beginning (platting, surveying, etc.) I have a basic idea on what the local application fees are BUT I have no idea how to assess the costs of roads and pulling in utilities.  Any suggestions on how I can derive that prior to getting the land?

The closest to "costs" I've found is someone mentioned that typical development costs are about $30,000/lot.  This was from a local realtor.

Also, I'm only going to have around $200,000 operating capital after I close on the property so I'll have to do the 60'ish lot subdivision in phases.  Any suggestions on how best to approach this project with so little upfront capital?  I'd HATE to get partially completed through a phase and run out of spending cash.