All Forum Posts by: Jonah Slove

Yes will definitely get an inspection. This post was to see if this looked good enough on paper to get to that point.

 Thanks for the reply. Ya totally, I have some additional info but as I am OOT I will be relying on Realtor and others to help identify other issues;

Built in 1953

Newer roof, not sure about the others

C+/B-

Hi all,

Curious people's thoughts in this deal. I am OOS looking to invest in an area like Detroit and start with a SFH. This is ready to rent and I have spoke with PM and rent is realistic. Not quite a BRRRR as more of a long term play I think given im not really forcing any equity, but cash flow positive and high ROI..I got my pre-approval letter and ready to get started.

 Hey Todd, still new to this and I am trying to understand what you are explaining about leaving $$ in the deal. Can you elaborate a bit more on the relationship between interest rates and principal?

I am considering consulting with a land planner to get a better grasp on my project. Does anyone have any ideas or recommendations? I am in Eastern Idaho.

Here is a bit more about my project-- https://www.biggerpockets.com/forums/12/topics/1136927-land-...

here is a concept plan that is part of my purchase agreement 

Quote from @Henry Clark:

Use the lookup function with my name and Spring lake and Journeys End subdivision posts.

First step is have your local surveyor survey the property.  Tell them what you want and ask them to lay it out.  They will know setback rules, road widths required, easement documentation for road and utilities, postal box and bus stop.  

Are you in the county, in the city, or in the mile limit for the city?  They will probably have different lot sizes.  

Lot sizes will also depend if your on city water and sewer.  

For example out county has a minimum 2 acre lot size, but also. 300 foot depth.  If you have city or rural water then we can do 1 acre since you don’t have to worry about sewer field contamination distance.

Flood plain.  Flood way designation?

Road surface.

Subdivision rules and application process.  Get the forms and the process.  

Percolation test.  Our county allows over 5 acres you can do yourself.   Less then that you have to pay.

Water test. Either drill well, measure neighbors or get letter from well driller. 
.     
People like water, trees and boulders.  You can do all of those to increase value or sale ability. 
One of our country subdivision lots above. 

 looks awesome! I tried to look up your post you mentioned but you have so many threads here I wasn't sure which you were directing me to.

anyway, I am in contact with a surveyor.. but waiting to sign the purchase agreement before I get the ball rolling. this property is in city limits and have been on contact with the planner. the 5 lots are within their parameters, this will have to be on city water and sewer.

 Thanks for the reply! We are not too far away in Victor, ID. As I understand, the city will allow a short plat so I can buy this parcel but then when I want to sell lots the utilities have to be in. Ive estimated $1mil total. I've got family helping where they get paid back once lots sell. I will piggy back on the sellers project when he mobilizes a crew to do utility install and road work for his next phase, I will have them continue to my cul de sack. thanks!

Hi All!

I am new to this site and this is my first post. Seems like a wealth of knowledge on this forum. This is less one specific question but more of an outline of what I am trying to do in hopes that I can add questions as they arise. If this post belongs elsewhere, admins please move.

Backstory - I am 33 year old organic farmer in Idaho. I have finally settled on a price for my farm (12 acres) which would allow a short plat and development of a cul de sack and build 5 residential lots for 5 of the acres, and then the farm with my own residence on the 7 remaining acres. The farm is also permitted under the "dude ranch" CUP to build additional cabins or smaller buildings to use as short term rentals, or worker housing, or other options. I really see the farm going the more agritourism route than just growing veggies.

So, I think the next step is to have the land surveyed so I can create a legal description and sign a legitimate sales agreement . Currently it is part of a much bigger parcel that the landlord has been developing as a small residential community. From there I can take my agreement along with the rest of my application and go to the farm service agency for financing. They will fund 45% of the loan at 1.5% for 20 years. My goal is to sell a lot or two on the cul di sack and pay the loan back. I think once the land is surveyed I will be able to short plat this 12 acres from the whole parcel with approval from P and Z and town council. Future steps will be getting engineering plans done for the road and utility work, a concept plan for the subdivision and getting it all approved from P and Z and town council again.

I know I am missing steps in here but I wanted to type out a scenario so I can come back with questions when I hit some road blocks. Please let me know if you guys have any questions for me currently and I appreciate the help!