All Forum Posts by: Sylvia Castellanos

I want to thank everyone for sharing. You have provided very valuable resources that many of us will be able to use.

I have been looking at the prices vacant lots sell for in a couple of semi-rural counties. What I am finding is that the lots within HOAs sell for double or even triple of lots in regular communities. I would like to start a conversation about buying lots inside HOAs so I can learn from your experience.

Let me describe the pros and cons as I see them (correct me if I am wrong, please). I know there is an annual fee and there may be additional fees. A couple of land investors have told me that after dealing with all the HOAs' rules, they never want to buy inside an HOA again. The flip side is that I would not be paying that much in fees, because my intention is to flip the property and since I am not planning to build, I won't have to deal with that many of the HOS's rules. The biggest point is how much more the lots sell for.

Never having dealt with HOAs, I am neutral on the subject. My intent is to learn from the experience of people in the group.

Yanina, can you talk a little bit more about the Giraffe360 camera?  I had never heard of this.

Yanina, thank you so much for replying.  I went on the Thumbtack website  and it mostly seemed to cover home repairs.  It also has photographers that can go out and photograph properties for us?

This is a question for investors who, like me, do not live in the vicinity of the properties they are interested in buying, and must hire people to go take photos and video. Do you place an ad in places like Craig's List and Facebook for someone?  The drawback I find with Craig's List  is that it has a limited number of editions in any given state, and they revolve around the large cities.  My research is in smaller localities, so it isn't clear to me that the photographers I need even see my ad.  The author of Dirt Rich says he uses wegolook.com.  Has anyone used this company?  I'd love to hear back about the experiences of others.

I am a newbie investor who is looking at the delinquent tax deed inventory held by various states. One of the things that leap out at me is the number of properties that are 0.18 acre or less. Finding lots that are 0.13 to 0.10 acre is common. When you look at a map that shows the parcel lines, the number of very small lots like this is huge. Clearly at the time the land was divided and sold, it was considered acceptable to building houses on this size lots, even with septic.

Well, times change. You read the current minimum size for a buildable lot in the code requirements outside urban areas, specially when septic is involved, and these lots simply don’t pass. Talking to zoning officers, I find that in some municipalities they are grandfathered in, but in others this exemption ends when the lot changes hands.

What I am seeing is a picture of a huge amount of semi-rural land that is frozen in time—impossible to use and therefore impossible to sell. No wonder so many owners stop paying taxes on them and just let the government take the lands.

That is my initial impression, but I am not an expert. I would like to hear the thoughts of other, more knowledgeable people.

Thank you. I clicked on the connect.

Susan, what I am learning from you is both surprising and very valuable. I am interested in buying a few vacant parcels in several Mississippi counties, and it makes poor business sense to go into it blind. Is there a forum, on Facebook or elsewhere, where I can learn about the conditions of the real estate market in Mississippi ( I realize that each county has its individual situation, to a degree) and ask questions?  I tried to message this to you, but I can't find the messaging option.  I found the "connect," but not the messaging.

Susan, thanks for your reply. I note your comment that

“during the Recession assessed values were higher than you could actually sell a property for.” As it happens, I have been researching parcel of land in Harrison County, MS. I was stunned by how much the county government assessed vacant lots for. Here is a sampling. The first number is the percentage of an acre.

.08 $11,500

.32 $18,400

.16 $17, 078

.18 $22,608

.19 $26,032

I get it that the size of the lot is only one of several factors in determining the property’s value. Still, these are numbers I didn’t expect to see. Can you shed any light on this?