All Forum Posts by: Pat S.

100% on point! As a fellow land broker at another firm that works well with your teammates in my state, what you've outlined here really is the model that the successful brokers use in our business.  Great work capturing how much goes into it and why specialization is actually a really good thing for your clients and for business.

Sorry for the delayed response, I missed this earlier.

On larger acreage (over 10), there are few options. I often see buyers leverage equity in other real estate (refi or HELOC), finance it through a Farm Credit, or seek owner financing. There are also a few credit unions around that can do some loans they hold in house, but those are less common.

I wrote a more detailed blog post on it here: https://nationalland.com/blog/financing-land-important-notes-for-buyers-and-sellers/

For what you described, I'd recommend reaching out to your local Farm Credit office and seeing what options they have for you.

Pat

@Brandon Turner, @Joshua Dorkin

Now that the subject of the topic is gone, these have no use and are more or less spam.

Yes, the new notification are useless spam. Please put the relevant content back in or there no reason to send them at all.

Adir,

Congrats on the move! Polk is about to get very popular with the new international equestrian center hosting the 2018 FEI World Equestrian Games. 

Are you working with a broker down there? If so they would be your best resource for getting all the due diligence tasks done. (Survey, perc test, inspection on any structures, quotes for work, etc.)

Curious what you mean by land inspector too? Is there something about the land you need to specifically look at (i.e. contamination, landslides, flood cert, etc)?

Pat

I've found ixactcontact to be my favorite CRM. Simple interface, but enough tools to cover most needs. It has customizable action plans for lead campaigns, they draft content for a monthly newsletter that you can modify and send, and they include a free wordpress website (can be upgraded for IDX) that is also updated regularly with blog posts and is customizable. It integrates with google calendar well too and I use it as a project management tool to keep track of my tasks.

Web based with an app.

If you're in you first year of practice, they also offer 6 months free membership, otherwise it's 5 weeks.

Pat

Welcome to the forum Kevin!  There is a ton of great info here! 

Also if you haven't checked out our local Carolina Real Estate Investment Association in Asheville, it's a very active group with great speakers and is a god place to network.  They generally meet the second Monday evening of each month.

Would love to hear more about your condo project!

Thanks,

Pat 

Welcome to the BP community and to an amazing amount of free info.  Also, check out the CREIA organization here in Asheville, they hold some excellent meetings and are a great way to network locally with other investors.

Pat

@Jennie OrtizI think the upstate CRIEA also has a beginners group, but I'm not sure if they do a regular meeting... Check out http://upstatecreia.com/

Hi Ryan, welcome to BP!

As an Asheville RE Broker, when we have lots/land that we are showing, we usually walk the property with the client and a builder to determine roughly how hard it will be to build before going under contract to see if it's even worth pursuing. That builder can be one that the client selected, one that we recommend, or in some cases one that is required by the development if it's in a subdivision with such requirements.  Given the terrain here, it helps to have a builder who has a good engineer they work well with too.

Then the buyer can put the property under contract and use the due diligence (inspection) period to get into more details and pay for tests such as the perk test/septic permit if needed, discussions and analysis from an engineer and the builder/architect to make sure all the extra build costs are known before closing on the land, have a survey done, and whatever else is desired. We've even seen folks drill the well in due diligence just to make sure they find water before buying the property. Although there will be costs associated with getting all of that done, it's far better to have all that before you close on the property just incase something comes up that would make the property unusable, way too expensive to build on, or doesn't go as planned.  

Hope that helps!

Pat