All Forum Posts by: Troy Norwood

Hey BP Fam, I'm hoping to get some input/guidance here concerning seller financing a piece of land. I am looking to seller finance a .5 acre lot. Is it necessary to find a someone to service this mortgage. I'm looking to sell it for about 11k, $3500 down and flat payments for 3 years. It seems like using a law office or real estate office to service will cut into my profit quite a bit. I consulted with my title agency and they will close but won't hold the mortgage. Basically I'm wondering if it's possible to write up some sort of agreement to bypass finding a servicer to facilitate this note that is on the smaller side. Thank you for reading and your time. Take care and be well

My local title office will do a search for $75, I'm willing to bet if I sent them 20 parcels they would cut me a deal John Anderson Joe Mclain

Bill Gulley thanks Bill!

Hello BP Fam!

There is a lot of land here in SWFL that is parceled out and there seem to multiple avenues to purchase these lots at discount. I'd like to buy them at discount and market them to finance or potentially even build. I have had some luck with mailing letters, but I've noticed that I can pick them up at tax deed sales at discount as well. Of course there may be liens or otherwise debt on the property that may cause issues. My question is:

Is paying title search on these properties enough to verify that they will be okay to bid on? What exactly are they doing when they search anyway, isn't everything online now? I wouldn't mind going down to the county if need be and checking files. Also, I would probably pay for title insurance as well, how does that work when I'm buying the deed from the county and/or the certificate holders? Thanks for any and all help and best of luck with everything you do!

Wayne Brooks John Vo thanks guys!! Take care and all the best!

Wayne Brooks John Vo thank you both. I think I'll pay for a title search. I figured since there's been one owner and all the county records were online that it wasn't necessary. Do you both think I need title search and insurance if I get a warranty deed drawn up?

Hello BP Fam, Got a call from a post card and locked in a deal on a 1/2 acre parcel here in Florida. My question is I know there's only been one owner and no liens or any other issues. I want to buy this without title fees. The owner has the deed, what's the easiest way to transfer over the deed while assuring everything goes smoothly? I'd like to just send this gentlemen a check in the mail.

Willie Webb Jim Carson I forgot to mention that I'm actively mailing letters to buy lots in Lehigh Acres and also to buy and hold SFH with creative financing.

Willie Webb I would check comps on sales with pools and without. Probably depends on location of house as well, like most things. Has your builder said anything about price per SQFT? I'd love to discuss this further as well and look forward to see how this works out for you. Jim Carson way to go on the lot in Bonita, that's a nice get and is an excellent location to build the home you're describing, I'd love to hear more. I also like big windows and using architecture to open everything up. $70 a SQFT sounds great! This is why new construction has become interesting to me. Building on the smaller side and making everything efficient seems like a perfect business plan here in SWFL. I'd love to talk more about this and get an architect and builder's point of view. I've also read up on some of the stipulations like you mentioned about the lot being too small to build. Apparently you can't build a residential structure that is too small either. Maggie Jones It is true that your market is vastly different than ours. It would cost a small percentage of that to build an addition here in Florida.

@Willie Webb

I agree with Cape Coral being better on the tail end. I can see some lots here in Lehigh would be tough to sell after the build. I'm seeing lots in Cape Coral that are pretty affordable. I've been seeing 2-3 people selling lots on craigslist for reduced prices. When I look at the County records they are buying these lots for 2-3k, even in Cape Coral. I guess they are buying tax sales or they are buying from owners that are tax deliquent and don't want the lots. I'm tired of seeing the cookie cutter stucco homes and I think everyone else is as well. To me, if one were to find a good building template that was different then the run of the mill, you could build cheaper and attract more buyers that want something that's not majority. I'm curious as to if it's possible to find a builder in the area that would be willing to change up the norm a bit.