How to Buy Properties Through The LAND BANK (even if you're broke)
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- Опубликовано: 3 окт 2024
- Today's episode is with Charles Noonan, who has grown a portfolio of 34 properties and over 60 acres of land by leveraging the Land Bank. Charles draws on his vast experience to shed light on how land banks work and the unique opportunity they present, including the power to quiet title and grant outright ownership post-purchase.
In this episode, he also discusses the costs of a full rehab and reveal how to tap into resources that streamline the process. The land bank can be a great opportunity to look into if you are an investor with limited capital. Some land bank properties that need rehab can be purchased for as low as $1,000.
How to find him
IG- @charlesjnoonan
RUclips- The Land Bank Show
Apply to Out of State Investing 4-Week Workshop- www.outofstate...
This video is about: detroit land bank,land bank,atlanta-fulton county land bank,land banks,landbank, buying property from land bank, real estate investing, the land bank show
#landbanking #landbankinginvestment #landbank
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Apply to Out of State Investing 4-Week Workshop- www.outofstatemoney.com/workshop
no My King u got New Burg New York that has a lot of empty real estate
thanks for sharing!@@GRINDETHIKSMIXTAPESHOW
I applaud you brother. I am an immigrant working in construction living in new york i see that we can build the city but cant afford to live in the city. Its stumbling an information like this that has changed my life. Thanks brother keep spreading this information and help us grow. I would like to learn more about this process.
This is fire. I have been listening since last week and I am already 30 episodes in...but this right here! I barely have more than 2 pots to pass in and I am trying to figure out how to make this happen. Like what!!! Man thank you thank you, thank you for sticking with your channel. This has really opened my eyes. I am getting in older, yet inspired and very optimistic
This really means a lot to me, seriously. Thanks for your kind words I appreciate it. I'm glad that that I can encourage you!
Always dropping Gems!!! This message is powerful! Thanks for sharing your experiences!
This right here hit different. I have bought and sold, got in over my head trying to keep up with the payments. I heard on clubhouse about the land bank and have been researching it and I found you!!!! Blessssssssing!!!!!!!!!
So glad you’re here! Welcome to the fam!
Debt Free Doors for the next generation! That’s real generational wealth!
Thanks for the comment!
I Love This ! Just subscribed. I have been learning for a while and only have one door that I am fixing up to sell. Seeing this excites me and gives me tons of ideas. thank you for the content.
I’m so glad it helped you! Wishing you the best on the first door
Most land bank listings I came across require proof of funds to cover reno. Usually, the amount is pretty high. Needs some financial readiness to get started.
Thanks for that insight!
Yep! That's the process here in St. Louis
I would say get 3 to 5 quotes to fix the house. They apply for a loan like a checking line of credit. Where the offer u more money but u only payback what u use.
Great episode 👏🏽👏🏽 Charles is a master on landbanks!
Thankful for the information 🙏🏽
Thank you for tuning in!
Thing is landbank properties are bid on (at least in Detroit) and they are not a secret ,so you have to have money in order to win the bid ,then the county requires that you rehab the property in a certain amount of time or they take the property back and forbid you from participating in the landbank auctions again. Also the landbank properties are usually in need of full rehab so that costs you a lot of money ,thus defeating the opportunity to purchase on the cheap and rehab them
Not to mention sometimes the “purchased” property has an agreement that if the property is not rehabbed within the specified amount of time in your contract you then loose your money, investment and the property.
Really
Most of these houses are teardowns at best and would cost many tens of thousands to rehab. Hazardous material removal/ containment. Its not helping anyone but the city collect tax revenue while you go broke fixing it and then cant recoup cost because of its location. Youre lucky if it isnt vandalized before you even get 25% of work done.
The best thing to do is find any vacant land that is offered that way you have a clean slate.
Thank you for this interview❤❤
you're welcome and thanks for watching!
Great conversation I appreciate the education
Thank you for tuning in!
Just stumbled upon your channel. I appreciate the candid explanation on how land banks work and the experiences of your guest. I lived in St Louis for awhile and they have a land bank there but I'm not sure how active it is. .
Welcome aboard!
THIS Awesome manh
thank you!
Does the Detroit Land Bank sell to ANYONE, and I mean anyone who has means to develop? Do I have to be a Michigan resident? I live in Las Vegas. I want to buy homes, fix them, and rent them out. Maybe I shouldn't bother with DLBA and just find other homes on Zillow that they don't own? Thank you.
Yes but you are required to have a registered business in Michigan.
Great advice
Thanks!
Great content..Thank you!
Thanks for watching!
I'm trying to find an acre of land to put a modular home on
Me too
Can you do 1 on ones? I’m new to everything
Thank you!
You're welcome!
But why do they don't sell at the auction is the question
Great show. I have a few lots. I’m in NYC. I have to connect with him.
thanks for tuning in!
What website do you go too?
Nice 👍
How do i join the land bank
How do you connect with the guest Charles
here is his ig instagram.com/charlesjnoonan/
What about the water hook up ?
Personally I’m not sure how that works
Detroit selling lank bank houses then there charging the buyer 10,000 to hook up water lines. It’s a big issue
How do I find information abt land bank Farmingdale Ny area ?
I would Trying looking up if they have one
Why is the land so low? Is it gang territory?
Are you having another challenge?
I am NOT interested in HOMES. I am only interested in LAND so I guess this does not apply to me.
Land banks sell land too
ruclips.net/user/live9NOBgD862YI?si=5g5_l6gfyI67wKZE
I just want to buy land and build my own home on it.
Not 100% true for tax liens, a big benefit of tax liens that ppl don't know is tax liens are governmentz mandated, yes there is a redemption period, if they redeem you get the money you put up for the lien back + interest, if they don't redeem you get the property for the price of the delinquent taxes its a win win either way...
Now with the landbank team you own it outright no redemption period which is just amazing and that's why I joined the team this month
thanks for sharing!
Man 500k to live in the city wow , you can get a 5 bed 2.5 bath house on Chautauqua lake NY for less then that
That’s crazy! Funny enough I went to school in western ny
@@blackrealestatedialogue good vid, was looking for a second property for Air b&b found one close to lake Eire on land bank thats what brought me to you
I dont have apple podcast 😂😅😢
Maybe Spotify? Lol
@@blackrealestatedialogue lol I'm playing I think my wife has it. Great Interview
Lol thanks for the laugh@@RichAction
The Land Bank is exclusive for michigan residents only. They are not interested in outsiders
Moving in. Detroit will take forever to develop. Outsiders will quickly decelop the neighborhood blight, making more homes quickly more available, helping detroit rebuild. But no. Of the losers, by the losers, and for the
Losers.
Nice
Thanks
I am listening to the black dialogue as a white/caramel man I hope that’s OK😂😂😂😂
that's no problem at all. Everyone can tune in. thanks for watching! 👍🏾
@@blackrealestatedialoguethanks for the info 🎉
Could provide the link for the solar powered camera systems with audio? Great idea!