How to Buy Land - Getting Started
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- Опубликовано: 6 июл 2017
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In this video, Pat Porter, #LandBroker for RecLand talks about getting started in your process to buy and sell land. This is the 1st video in a 16 video series. Sorry for the quality. It was back when we first started!
RecLand Talks is the video blog for RecLand and provides a behind the scenes look at our land brand and the outdoor lifestyle. We try to give you some insight into the rural real estate business and offer ideas and information to help you better manage and enjoy your own property.
Phone / Zoom Consultations:
Please don’t let what you’re about to read bum you out…due to the large and growing number of phone visits I’ve had in the last several months, and the amount of time they have been taking up, I’ve started charging a modest fee for the phone / Zoom consultations just to weed out those who aren’t serious about what they’re trying to accomplish. It’s officially $75 for 30 minutes, but most calls have been going a little longer just because it’s hard to stop when talking with someone who’s anxious to do things at a higher level. I have also been sending 1-3 (now 4!) of our print books as a gift if the person doesn’t already have them. Any follow-up calls / Zooms over the next 2 months after the initial call are at $50. Again…sorry…and hope you don’t see this as me thinking I’m “all that.” It’s just gotten pretty overwhelming. Thanks for understanding.
Let me know if you want to schedule a call / Zoom and I’ll shoot you a PayPal link to pay and a short form to complete so I can do some prep work and be better prepared for our call. Once that is done, you can choose a date/time that works best for you.
See our company website at www.RecLand.net.
RecLand sells rural real estate at www.recland.net.
#ruralrealestate
See all Pat's land-related real estate books HERE .. amzn.to/2ih5Oro
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Thanks for sharing your experience and insight. Appreciate the video!
That’s nice of you to say...thanks!
This video was so informative! Thank you so much!
Hey! I appreciate that!! I have all 16 in the playlist. They are a bit shaky at times since I’m in my truck most of the time. But they communicate the info from all 12 of the deals I did. Maybe some of the info is helpful. All the best to you!
I like your country personality and lifestyle.
Ha! Thanks! My wife calls me “simple yet sophisticated, rugged yet refined.” I’d add “smart yet dumb”!! Have a good day!
This video is gold!! Thank you!
Dang, man, that’s nice! I appreciate it. The videos in that whole series are the real deal, not googled seminar info. I wish the vid editing quality had been better for your sake though! Have a good week! - Pat
Finally, honesty! Everything requires work and it takes awhile to be successful.
Definitely right about that. Sorry for those older vids…too long and no editing. I need to redo those. The info is the same but the vid quality can be better. Thanks for watching.
Thanks! This helps a lot.
Don't worry about his driving, the man is trying to give the advice he has learned over years!!! He's probably driven that road hundreds or a thousand times. Interesting with how many who watched this there are 6 or so people worrying about his driving. I don't recall seeing another car on the other side of the road. Geeze, are we becoming a nanny state or what??
+Suenette Edwards Thanks! I try to be careful and pay attention. Prob should not gesture with both hands though!! Have a good week!
It’s crazy to me to think people are getting upset over him driving and talking to the camper. How is that ANY different from you talking to the passenger sitting next to you while you drive? It isn’t...
Ha! Thanks for taking time to comment. Pretty sure I endangered no one driving. Only danger was to viewers watching my sad video production and editing!!
Give before you receive - I enjoyed your video - thank you!
+Jeremiah Engels Ramsey I appreciate that!
This is One wise Gentleman !!!
Really motivating and knowledgeable gentleman.
Thanks! I’ve been trying to get started with this somewhere and you’ve given some advice that tells me what to do next.
Hey! Thanks for taking time to comment. I hope you find something to get the ball rolling. If it’s an easy “system” then it’s probably not going to work or it’s a scam. Finding, buying, & selling rural real estate for some profit usually takes some sweat and time. Good luck!
RecLand Talks! I’m just getting into conservation work this summer and looking to acquire any alright space for now as my Primary goal: small parcel, quarter acre minimum but is still sufficient, ideally holding some natural resource like wood. I’d like to start a small, maybe temporary homestead where I could live in a tent, or a teardrop camper, build a small living space and grow stuff.
Closer to a good forest or beaches are desirable qualities here in Michigan.
Hope to get more into investing in land as I learn more!
If you have any specific advice or see any trends I’d welcome your perspective.
Thanks again,
Looking forward to watching more of your content.
Thanks!
I like the way you drive and talk.
+tri kien Ha! Thanks! I’m on the road a lot going to different properties so it’s the time I use for the vids. Gotta keep my hands on the wheel though!!
You are wonderful!! Thank you!!!
Thanks for watching our humble vids. Have a nice weekend!
Thanks a lot!!!!! This really helps!!!
Thanks for watching and commenting. We have just finished the print version of the book from which these videos were the basis. Let me send you copy - Free. Just email me your name and shipping address and I’ll shoot you a copy. My email is office@recland.net.
Have a good week!
Love the honesty
I appreciate that. Thanks for watching our humble little vids and taking time to comment.
Thanks.
Thanks Pat your great at sharing your passion thanks for making this
Thanks, Kris! I appreciate that. Sorry for the shaky footage in those earlier videos!!
@@RecLandTalks you can live on your land right?
A lot of the tracts we list and sell are suitable for home sites. Others not so much.
What tips can offer someone new to buying land, especially hunting/wknd getaway land? Things to look for, things to stay away from? Like flood zone, sceptic, water, elec...
Smart man, great video......thank u for the information
Hey! Thanks for the nice words. Just a humble little Land Broker trying to help people who appreciate the opportunity we have as Americans to enjoy private ownership of land. Have a nice Christmas and New Years!
@@RecLandTalks u2 thank u. ; )
Great video I’m looking for land to start my spec home business 👍🏽
Great! Hope you start off with a home run. Thanks for taking time to watch and comment!
Hello, thank you for all you great videos.. i'm working on flipping lands in Texas, can link me with someone in Texas that can walk me through the process while we do profit shearing on every flip. Thank you
Great information, thank you
Hey...thanks! Kind of shaky video in those early vids, but hopefully something useful in the info. Have a good week!
I am interested in investing in land, do you have any suggestions on where I can start. I am flipping SFR right now. Look forward to hearing from
Where are you finding your leads for SFR deals? May be one of the sources for some unimproved land tracts, too. I believe in baiting lots of books and developing a lot of potential sources.
@@RecLandTalks , I find my own leads and take care the whole process from locating the property, finding the owner Information, putting under contract, rehabbing and selling.
Gotcha. Didn’t know if you shopped local mls for deals, too. That’s a good place to find some smaller land deals since so many residential agents don’t know how to price and market them. I’ve found them there on the market for long time, make an offer, and get some action since owners sometimes ready to just move on. Can also see properties and look owners and contact them. I’ve always had better luck with out of state owners. They sometimes aren’t going to come back or use the property - tired of paying the taxes - and are open to fair deal.
Land on hill side is re 11 1 what else I need know before buy and how long takes to build and fees
How about a gas pipeline Issue: there is an easement with a kingder Morgan gas pipeline cross the 30 acres land in the right middle of the land which cut the land into two pieces. Does the gas pipeline affect the future commercial development or land value? , should I give up the deal or not? I want to know your opinion if you are the buyer. Thanks in advance.
I am purchasing the land is in flood plain with 155 ft elevation based on topographical map, I plan to try to bring 10 acres closing the frontage land back to zone x with digging an acre pond. Do you think it is possible to dig a pond to spread dirt to the 10 acres land? Do you know someone do such work and how much did they spent usually?
I’d be lying to you if I said I knew that. I don’t know the data to determine how much elevation that would add and if that would get it to X and out of the FEMA floodplain rating. 10 acres is a lot of surface to cover and then up to some elevation!? Wow! That’s a lot of soil. I’m sure the dirt movers can calculate the cubic yards they can move and how high it would go. I’m glad that’s your project and not mine! Hope it works for you.
What is the best type of land to hold for multiple years to gain the MOST profit. Looking to buy a land with ton of Acres alongside a massive amount of profit in the long run. Looking to hold land purchases for Atleast 10 years.
Just subbed 💯
Thanks! Hope you find something helpful in our humble little vids! Happy New Year!
Thanks for great video,
I have a question. I tried to buy a 2 acres of land little away from city and divided into pieces for my brothers as gift so we can live next to each other, is it something possible?
Hey! Thanks for your comment and question. It really depends on any zoning or restrictions that may be on the property you’re trying to buy and if the tract itself is suited for a couple homes like you’re talking about.
Every area, region, municipality, state, providence, etc. is different. You’d need to investigate and determine when restrictions, if any, you have to deal with to divide a parcel for residential living.
Thanks for taking time to watch our humble videos. All the best to you!
@@RecLandTalks thanks for quick reply. And I'll keep your answer in my mind.
I am looking at purchasing at least 10+ acres. I'm not looking to flip the land I literally wanna purchase to build a house or two on it and the rest will be left raw land where I can hunt,fish and ride ATVs. I know most banks don't fiance raw land. Where is a good place to start to get the financing? Live and land is located in Central Florida. Thanks for your help.
Hey! I like your plan. You will be surprised how many banks finance unimproved land. They usually require a 15-20% down payment so they are financing 80-85%. They will also require solid financials - just like for a conventional home mortgage.
Not sure who the FCS lenders are in central FL so google farm credit system for your area and see who the lenders are in FL. The farm credit system is a federally chartered lender system designed for rural land and farm loans. No, you’re not getting a farm loan, but the charter is designed to fund loans for rural land. Here in the south, we have LA Land Bank, First South Farm Credit, Heritage, and others. I’ll bet you can find the FL equivalent and start there. Other independent banks also finance rural land. We know many in our region. You just have to look. But be prepared with your tax returns, a current financial statement, and that down payment.
Good luck and let us know what you end up buying!!
I have a person in Oklahoma selling me some land for a deal out in the country, but I don't know what the process is like as this is my first Property I've ever bought, she says "land transfer will be via quit claim. Quick and simple"
And I have no idea what a "quit claim deed" is and I live out of the state of oklahoma in Washington state and I want to know if I need to go to Oklahoma to buy the property?
Hey! Good questions. I’d have a number of questions I’d want to ask to dig a little deeper in the deal. First of all, why is she offering it via a Quit Claim? That is a deed that provides the buyer with no warranties whatsoever. A Quit Claim simply conveys whatever a seller may have in regards to the title of the property. The recipient of the deed has no real assurances as to what they are getting with the land unless they do a title search to know what’s what.
Dies the property have any liens against it? Does the seller own 100% of the tract or just a partial interest? Etc. etc. The Quit Claim just gives what they have. And what they have could be very limited or encumbered.
I’d insist on a General Warranty deed. It’s the best of deeds that provides full warranty of title. I’d also hire a title company to do a title search before buying. This will uncover any issues with the title that would pass along to a new owner. You just want the land. You don’t want other people’s problems, too.
These things may cause the seller to run away screaming or start reneging in the price. So much land is sold “cheap” to absentee buyers precisely because the land is attached to a host of issues.
Be very cautious and hire a title company. It’s worth the cost to have your property free and clear without other people’s problems attached.
As for actually being in the state...no. The title company can arrange the closing where they email docs to you for signatures and you FedEx them back. You can wire funds to their escrow account t so it’s in a safe place until the sale can be completed properly. Don’t send any money to the seller unless you are assured all is well and above board. You have no way of getting it back if something goes wrong.
Don’t let your first experience at buying land become a nightmare. Be patient, use caution, hire pros, and dot all the I’s.
Have a good week!
Thanks for the script part being posted. I get dizzy watching you drive and so worried that you might crash.
+Bal Loney Ha! I’m driving safer than it may look. Can’t talk without my hands! I hate the bouncing of the truck but can’t make myself do the “studio” type vid. Merry Christmas!
What advice would you a person thats getting started on buying land
Thanks for your question! Without knowing anything about your situation, budget, location, timing, and what you wanted the land for, I’d generally suggest reaching out to a land agent in your area. You can google Land Brokers in your area and ask around. Tell the agent your situation and listen to their general guidance. This will at least hey you started down the trail. There are lots of variables and good Land people know how to help you down that process to avoid wasting time and making big mistakes. There are several more videos in the How To Buy Land playlist that may hit on some of your issues, too. Good luck and Merry Christmas!
I'm about to purchase a quarter of an acre of land for the first time. All I want to put there is a tiny house but there is HOA and so many restrictions. I don't even know where to start to begin with, really.
Ha! I get it. The thing about HOA's is that people know (or can know) the restrictions at the front end so they can decide if they are willing to abide by the restrictions and purchase property there, or not. My experience says it's better to move on and find a place that you're happy with as opposed to thinking you can violate recorded restrictions in HOA docs and just get away with it or fight it. Everyone has different personalities, but mine is "life is to short" so personally, I'd go some where else.
However, that being said, you could take a hard look at the details to see if the ones that are the most restrictive would even apply to you. Example: "No permanent flag poles can be installed on home or in the ground." That would be a problem for some people, but you may be a person who doesn't need / use a flag pole. (This is a real restriction in some places, by the way!). My point is, look closely to see if the restrictions will infringe on your lifestyle. If so, go somewhere else. If not, then you're good. Not all HOAs are the same. They typically reflect the overall common values of the owners in a particular area.
Good luck!
Thank you for the tips. God bless you!
that is the same issue i'm having all the restrictions and HOA I'm looking for a place where there is not many restrictions and no HOA
It’s likely going to be an issue in any developed subdivision. Some restrictions are pretty basic and understandable. Others will be things that you don’t want to get tied to. Hopefully, you can find a place without onerous restrictions. Good luck finding the right place!
i thought this is how to buy land, like
the legal process, where to go, if you need city to approve, paperwork, how to put land on your name...
I am a poor boy from a poor family and need to buy land but am completely overwhelmed.
Hey! I hear you. Not sure of your needs for the land or how big or small. But like everyone, you’ll need to accumulate some $ in advance. Whether you’re making a down payment or buying it all outright, we have to have some cash or other assets to use. Work, save, plan...and be patient. There will likely always be opportunities when you’re ready. The last thing you’d want to do is force it and rush it and get into a bad deal that can set you back for decades. Good luck, brother!
@@RecLandTalks Thanks for the advice.
Sure! Are you related to Freddie Mercury? Just curious. 😀
@@RecLandTalks Yep could very well be related. lol. I am not really poor though I am cash poor. I buy gold and silver because It fear inflation.
Have you ever seen anyone pay for property in gold or silver? I'm sure it would be common if what they talk about came to be like economic collapse.
Thought it might be that song lyric! Ha! I haven’t seen that exactly, but I have seen people turn gold and silver into cash at precious metals smelters and then buy another hard asset...real estate.
I wonder if the government sales land
Hey! Yes sir, both state and fed govt have a history of selling certain properties. It’s a lengthy and hoop-jumping process as you can imagine but I have seen it happen. It’s not common. And I don’t know how they make their decisions on what to sell. Typically, a person contacts them (I’ve seen it at state level) about a tract and starts asking the question. All the best to you. Have a nice weekend!
Is a land agent different then a realator?
Hey! Good question! Usually not. Both are licensed real estate agents. Land agents have a primary focus on unimproved real estate (land.) A Realtor is a designation for a licensed real estate agent who has taken the National Association of Realtor’s code of ethics course. I am a land broker and a Realtor because I have taken that course. Most people use the terms Realtor and real estate agent interchangeably. I typically do courage people to use a land agent when I’m giving advice about rural real estate because they have unique knowledge that a typical real estate agent who just sells houses may not have.
Thanks and have a great New Years!
@@RecLandTalks Thank you for the reply!
I have a question I am looking at a property for 30,000 25% down.Do you have to show proof of income what if you are a self employed gig worker?
Hey! Every lender will have their own underwriting requirements for financing. They’ll all require some documentation to verify the ability for a borrowers to pay the note. That’s just good business, however some lenders make it easier than others.
I’m self-employed, too, so I understand. Copies of tax returns and bank statements can go a long way to prove up ability to repay. Also, putting down 25% is a big deal...assuming the property will appraise for the $30k you mentioned.
Try to use independent banks or local credit unions, as opposed to the big banks (Chase, Bank of America, etc). You’ll likely have better luck. Also Google Farm Credit System banks in your state and talk to them. They specialize in rural land (not just farms). In LA, we have the Louisiana Land Bank, First South Farm Credit, etc. You likely have some in your state, too. Also try Ag America.
Good luck! Have a nice weekend!
@@RecLandTalks Thank you for the reply.I am new to all this haha by you saying 25% down is a big deal is that a bad thing or good thing? Also do you have to have good credit? I am not sure what a home loan is and if I would need to do that for buying land.I appreciate youre feedback.Looking at property in AGUANGA ca
25% down is good for most lenders. Having good credit will likely be a must-have for most lenders, too. They are making a risk assessment with your credit situation and financial position so they can determine is a borrower had the ability to repay loan. I’d definitely have some honest conversations with a couple lenders to see what position you’re in to move forward. Knowing you’re “bankable” in advance gives you more confidence to o our and make a deal on property.
@@RecLandTalks Thank you very much.I do not have a credit score so ill have to build my credit.I do not own credit cards.But ill get a secured card and build it up.
A little bit of time cures that. Be sure to start a conversation with a local bank or credit union. Good luck to you!!
Hey I have a family member that's willing to sale me a couple of acres. It's going for 75k for .5 acre in the area but he is selling to me for 30k a acre. Where do I even startand are their programs I can use to purchase this thru if I don't have cash on hand??
Hey! If the values are what you’re saying then sounds like you could be getting a good deal. I don’t know of “programs” that you can use to buy personal real estate. However, you should talk to a local lender and tell them what you are dealing with. IF the values are true, and you can buy for that greatly reduced price, the lender may be able to help you. Lenders look at a borrower’s ability to repay the loan AND the value of the asset they use to secure the loan (that land). They then compare the value of the asset to the amount of the loan. They usually want a 70-80% LTV (loan to value) if the buyer has good credit and steady income to repay the loan. What you’re saying is the LTV could be 20%!!! (30k per acre divided by 150k / acre value). Most lenders would jump at that. They will likely require you have a written contract to purchase the property. They’d also get an appraisal which will cost some $. But all that said...if the values are as you said, it could be a great deal.
Another idea is to get an option to buy the property and then sell your option to someone and make a little money in the middle. Example: get a contract to buy it for $30 within 90 days, then sell your option/contract to someone who does deals in the area for $10-15k or so. If the numbers are like you say, then someone will be interested in looking at your deal.
Just go slow, have a plan for what you will do with the property, and ask a lot of questions in the local area. Good luck!
RecLand Talks thanks alot..your the best
So do you think land prices will crash like real estate?
Hey! I don’t think so at all. We’ve seen no indication that rural real estate prices have softened in our region.
@@RecLandTalks okay that I you so much. I was going to wait, but I think you are right. Land may not go down.
Got any in Dallas county
In texas
+Arthur Colwell Nothing currently listed in Dallas Co, but my Ft worth guy is getting about 34 +/- ac listing soon that may be that county. If not, it’s a neighboring county. I may have it from him first part of the week. Thanks!
Are there any lenders for land?
Hey! Sure there are. Not sure what state you’re in but you can google the Farm Credit Service lenders to find the names of federally charted lenders that serve rural land buyers. They have lots of different names. In LA we have the Louisiana Land Bank, First South Farm, etc.
Most independent banks will finance rural real estate. Even the big banks like Chase finance it. Some lenders are more difficult to deal with because they just don’t understand unimproved rural real estate as well as others do. Shop around to find the best product. Most will require 15-20% down. All will require financial info like tax returns, etc to determine a person’s ability to pay the loan back.
Good luck to you. Thanks for watching our humble little videos!
RecLand Talks
Thanks for your response. I’m trying to get land to park my 18 wheelers, as well as to charge for parking spot. I live in Texas, even with that I can still get a loan for that?
Sure! It all will come down to your financial info to prove you can pay the loan back, a down payment, and a fair deal in the property that is bought for about what it appraised for. The lender will typically get an appraisal as part of their process.
Hey everybody here in this Comment Section. ...Im Bobby. Im Recland's cousin. 😑...I wanna take the time to APOLOGIZE on his behalf. I can assure you it WONT happen again. I actually gave him this Camara last Christmas and he promised he was gonna use it wisely. We all like to get together at my House on Christmas,the Whole family, down here in Chattanooga ., and every Christmas we like to exchange gifts. Yeah let me tell you all a little story,.., ever since we were kids, i remember me and Reckand use to hang out on the farm......And i'll tell you something. Recland here was ALWAYS A MULTI-TASKER........i remember the time we bought some boxing gloves and we started training.. I told Reckand " Dam it Reckand you cant Box and practice your choir singing at the same time"....and i was right. I used to punch him in the mouth every time......LOL...those were the good ol days.......But anyways.........I had no idea he was out here on RUclips Multi-tasking again , and I can assure you i will definitely have a SERIOUS talk with him. Rest assured this is the Last time he Drives and Stares at the Camara. Thanks for taking the time to read. God Bless.👍
Start at 3:14
I like dirt
I do, too...especially if it’s square miles of dirt all connected!
What's this accent?! I couldn't understand at first 😁
Just straight up southern boy! Rugged, yet refined. Simple, yet sophisticated. Have a good day!
Man this guy bought a land and he uses it for parking for truck drivers that shit is always packed,I want to do something like that.i only have like 8 thousand saved 😯
+gb box $8k is real money! You are way ahead of most people!
RecLand Talks yeah thanks brother, just trying to keep saving until I make my mind on what to invested it on.
Keep your hands on the wheel...
+patrapper7 Good point!!!
Topic its good and I like any kind of information but men you are a potential killer by making videos and driving!
+machoz55 Ha! Thanks for concern. I promise it’s not as risky as it looks. The camera is mounted in my line of site with road. And I’m usually in remote areas...never making vids driving thru dense population/traffic areas. Hope you can work thru all 16 of the vids in that series to get while picture of what happened with those dozen tracts. Close (selling) on another one next week! Thanks and have a good week!
Nuts your suppose to be driving that vehicle not making a video! Both hands off of the stearing wheel and eyes not on the road too?
+Mark Goodwin Ha! Ok! You’re right! Can’t talk without my hands, it seems.