NEVER Buy This Type of Land
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- Опубликовано: 15 сен 2024
- There are certain types of land that may seem tempting at first glance, but can quickly become a nightmare for the owner.
FEMA FLOOD MAP www.fema.gov/f...
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Are you considering buying land, but don't know what to look for? In this video, we'll tell you what NOT to buy - as there are certain types of land that you should NEVER purchase. Especially 'affordable land'! We'll show you examples and explain why it's important to make sure you're doing your research before investing in any property. Don't miss out on this essential guide to avoiding bad investments - watch now!
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DISCLAIMER The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.
I bought county land, it was a dump. For 40 years everyone used it as a place to dump car parts, appliances, trash, and it was massively over grown, used for gang meetings, camping, homeless, etc. I could only use Google Maps to look at it. So the county got rid of it, and I was the only bidder. $4,000. for an acre. So I rented a skid steer and 3 helpers and worked for two months... a LOT of work. Now, it looks like a city park, 80 huge firs, fenced in, stunning beautiful, and appraised for $1.7 million. Sometimes the BAD, turns out GOOD.
Where does an acre go for 1.7 million?😊
@@tejeda7324 he said 4000$ an acer not that there was only one acer
@@carolmaplesden916 Jan is a she not a he. Usually when someone says "$4000 for an acre" to me that is singular so that plot of land she bought was only a one acre plot, otherwise she would have said $4000 per acre. That is a crazy expensive one acre plot of land.
@@carolmaplesden916 incorrect. She said "$4,000 for an acre". "an" implies one, a singular acre.
What state/city is this land located to appraise for $1.7 million for a single acre? That's like southern California prices?
I bought a 5.9 acre property from the previous owner who happened to live next door and owned multiple homes in the area. Well that was her claim. After 10 years of arguing with her about the property lines I finally just paid the $890 survey fee and it's a damn good thing to do. Turns out the rental home and pasture behind her place is my property along with the large field that she had been claiming was hers that separates her home and my side yard. The property line is actually 9 ft inside the bar / man cave type room they added onto their home about 5 years ago. Without permits I might add. She has been collecting rent from the house that's clearly mentioned on my property record as a 2nd dwelling. I had assumed that the 2nd dwelling recorded on my place was the shop. Turns out the shop was never recorded and she knew I owned the home she had been renting out the entire 11 years I've owned my place. She just lost the civil suit and I learn of the judgement amount in another week. She is also facing criminal charges for fraud and a few other related charges.
Aleluya
Great to find out that you have a fraudulent neighbor. only gets better from here!😂
Any updates?
Quite a stressful time. What happened to your criminal neighbor?
Awesome! Best $890 spent in the history of mankind!
Yeah, my Dad was shown 2 acres near Tallahassee that he bought and years later when he went to build on it he found out he actually bought the 2 acres behind it, with no access easement. He paid 2k for it, he paid taxes on it for years. When he passed I inherited it so went to find owners of the front piece, who live on the 5 acres next door to see about getting an access easement and they told yes, for 20k. Realtor long since dead but his daughter still doing people dirty in Aucilla County Florida. I donated it to the State as a bird santuary.
Most states force landlocked owners access to their property. You gave your neighbor free access and use of your land
@@arribaficationwineho32 Especially since it sounds like this was a scam by the seller/real estate agent. He was shown a different section of land versus what was actually sold to him.
@@0xsergy It's up to buyers to confirm any survey's or to get one done, before purchase, to confirm what they are purchasing. The agent could have in fact been clueless about what they were selling, too.
I think a tarantula sanctuary might have been better.
That stuff can be expected in Floriduh.
As a surveyor, realtors are generally our sworn enemies. It's good to see there are some that care enough to consider flood zones and appurtenances and encroachments.
now most agents have to take CE every year would like to see the electives being taught how to subdivide land, family subdivisions, monor and major subdivisions. At least in NC, we have ROUGE planners and zoning officials that DO NOT care about what you're trying to do and WILL NOT tell you what your best option is. To me, it's not the REALTOR so to speak to me its the PLANNERS that SUCK! IF they were so smart, why are they usually poor and have to take JOBS with security? It because they don't know...and they need to know you know.
@@douglasrink I have never met an honest realtor that had my best interest
Gotta tell the truth. Only way to do it
It depends on what their role is, if they are acting as a seller's agent then yes they likely are going to really despise you.
If they are a buyers agent not as much as their role is to look out for the buyer's interest despite getting part of the sale commission.
Also how ethical they are and if they conduct themselves with integrity and ethics. A good realtor will look act with integrity and good ethics regardless of their role. It's in their best interest to do so. It shows buyers and sellers that this is a person you want to do business with in the future.
I NEVER get a referral from a realtor. They basically focused on the coin: used car or vacuum cleaner sales, but bigger numbers. We used our family lawyer.
When it comes to flooding, be mindful that flooding can happen multiple ways. It's not always "The river came to your house", sometimes it's "The water table rose and infiltrated your basement".
My parents live on top of an 800acre underground lake. They have 4 sump pumps, a half basement and submarine battery backups to each of them. They are the only house that hasn’t flooded in 20 years
Very true. My family farmhouse is near a creek. Growing up, there was a terrace behind the house that channeled water from the fields away from the house.
At some point, my oldest brother removed that terrace for some unknown reason. The next big rain, the water came straight down from the fields and through the house. He hurriedly built a new terrace afterwards, but the damage from that flood is still there and it is a ticking time bomb.
@meriadocbrandybuck9833 Where is this 800 acre underground lake?
Mom had a survey in the 1970's. A bit afterward, some people thought they were buying land from a seller/owner, but actually they bought part of Mom's land. Mom visited them and told them and had a lawyer mail them to my knowledge. Fast Forward to 2022/23 and we are surveying/dividing inheritance. The people who encroached years ago wanted to know why they weren't informed as our surveyor was on their property. ( So they disregarded Mom and her lawyer) I think they thought they could pull something over on us...but the tax maps and deeds and images prove them wrong.
your lawyer should have that letter on file, and hopefully you kept a copy.
From “a bit after” the 1970s to 2023? Sorry, you don’t own that any more. That’s the clearest case of adverse possession I’ve ever heard described. Your mom was negligent and lost the land, even if she once owned it.
@@JasperJanssen they never came over their fence line because they knew better. My family wouldn't allow them to take it all those years. It was only after Mom died that they thought they could pull a fast one.
@@JasperJanssen permissive possession and adverse possession are mutually exclusive
Buying a property or land without doing a survey is crazy to me
You ain’t NEVER lied about that one! My father and grandfather both told me this. Pay the money to get the survey done in order to know exactly what you’re buying.
The cost of a survey is crazy to me.
@@johnfontenot7861
Either pay for the survey one time and get it over with or forever deal with all the problems and property disputes that come with not getting it done. I see a survey as money well spent. Surveys aren’t that expensive. I checked online. Folks were charging as little as $300/$400 and as much as $4000 depending on the size of the property. I want to know wha I’m buying. I’m not going to trust somebody’s word on the property boundaries. For example, in the video I believe it was mentioned the seller of the land was still living next door to the new buyer. The seller had built some structures on the buyers land that didn’t belong there. The buyer didn’t find that out the land the structures were built on was his till they did the survey.
just depends on price. say your buying a small lot just big enough to throw a trailer on. would you spend a $1,000 to survey a $5,000 lot? or say your buying the lot next to your lot. do you really need a professional to exact gps locate the boundary? you cant measure 50-90 ft and build your fence a couple feet in just incase your wrong? assuming you have the previous survey records theres plenty of good enough measurements and examples where a survey isnt needed.
obviously if your buying 30 acres in a wooded area and theirs no clear point of reference to whats what. you pay a guy to throw some stakes up.
@@humpteedumptee8629
I get where you're coming from, and it's true that in some cases, a survey might seem like an unnecessary expense. However, there are a few key points to consider:
Accuracy Matters: Relying on existing records or DIY measuring can lead to inaccurate boundaries. This could cause headaches with neighbors or even legal issues down the line.
Future Planning: Even if you're just using the land for a trailer now, a survey can be crucial for future developments or sales. It's a valuable record for zoning, permits, or when selling.
Peace of Mind: A survey gives you certainty about your property lines and can help avoid encroachments or easements. It's an investment in your peace of mind.
Value for Money: The cost of a survey is often small compared to the overall purchase price. It's a worthwhile investment in the long-term value and use of the land.
I work in residential HVAC. After seeing what floods can do to a house I'm never buying anything in a flood area!! I want the entire property to be at least 40 feet up from any river or lake. Floods absolutely destroy homes and you will spend a year or two fighting with your insurance company to rebuild. It's just not worth it.
Water is much more powerful than it looks.
My house is right on a creek, part of it over the creek. I'm supposedly the highest flood zone risk. My house has never flooded, & it was built in 1896. Fema is a scam. Supposedly, every year, there's a 33% chance of flooding, according to their math. They don't factor in the 128 years that it's NEVER flooded. 😂
Yes, it is. And, the insurance hassle can be horrendous!
I would add 3 things:
1) if you’re planning on grazing animals to do a soil test to make sure it’s not contaminated.
2) check with the EPA and your State environmental agency for the presence of Superfund or other environmental remediation sites.
3) unless the property has a land patent, you’ll probably not get mineral or air rights.
If it has water wells, get them tested for pollutants.
I always wondered who has the mineral rights if not the owner...
In my area it is rare to see mineral rights not owned by the surface owner. The only mineral down there is limestone and it is just easier for companies to buy the land they want to dig up.
@@ryhu4755 They were sold separately, ages ago. Unless you can persuade Consol Energy (for instance) to sell you the mineral rights back, you're SOL.
@@bcubed72 bought from who though? What a shit scheme.
In most countries you do not own the land, you only get a certificate of title/deed, you pay property taxes, and you file for permits and licenses for anything you do on it...We are all slaves until we outright own the property, mineral, air, and water rights completely. Most of us are just glorified renters, let's be honest.
Yeah but at least I get to sell it...built 2 homes made 125k each...not bad for glorified renter😂
You say it.
But you don't mean it.
There are many properties all over the country where there are almost no land taxes, no permits, no water no electricity.
Getting all that done on your own because you don't like authority is often exponentially higher than "renting"
@@TheGeorgeous …. Often a private agreement to bring in and construct water, sewage, roads, etc., is much cheaper than a government funded project.
Once completed, the assets need maintained, and again, private ownership often take better care of their assets than a governmental agency that just throws money at problems.
This all depends on the characters involved in the decision making.
Just like in the USA... No one really ever owns their property... As... Until you die... You pay your rent (taxes)... Every year... Or... You will lose said property...
I don't know about other countries but in Malaysia there are the 99 years tittle and the 999 years one 😂
the 999 years tittle also called permanent tittle and it's common in the market
Also don't buy a hazardous waste site. Land aling a railway, old lode gold mine, gas station with underground tank, dry cleaner, or industrial land that may have had chemicals on it might be suspect.
So true and if you have any cleanup due to environmental, you will be stuck with the cleanup
You touched on timber rights. I advise people to always get their timber rights. You may buy land that was once a tree farm and was clearcut, but company A still owns the timber rights for the next fifty years. Twenty-five years from now your family's apple trees will become part of "apple wood smoked bacon" and they owe you nothing along with you have to allow them access.
That's the sort of thing that I would make the news for. I collect old and obscure apple cultivars.
Well, that's interesting.
You don't have to be in a flood zone to have water issues! I'm in Michigan and we have 'wetlands'. The wetlands have their own map that you can lookup on the internet, but do you think the realtors or the sellers note this on their listings? Hell no. Buyer beware! At times the wetlands are dry, but when they're not dry, its worthless to build on. I called a local drain commission and the really nice woman on the phone laughed when I told her the parcel# I was looking at. She said, you'll never get a building permit for that area due to wetlands designation.
In Texas the seller is obligated to provide the buyer with a survey and description of the property after being given earnest money towards the purchase. That allows to buyer to compare what's shown on the older survey to what's currently present on the property. If there's an easement for utility lines or dirt road leading to different properties then those will be shown and mentioned in the property description. Roads leading to other properties need to be maintained so it should mention that cost being shared between the users. Sometimes it's an access road for the utilities to reach the ROW so they'll spend a dime to keep it in repair. Sometimes the road is being used by an adjacent property owner or the seller to access a far section of their property. That should be included in the property description and why they need access to it. The property they need access to must be producing income for the property owner to have access, such as raising row crops. If that's not shown on the survey or description then it's a private road on that property. The description will give you the boundary coordinates. You can use those online to have Google Earth mark those so you can get a bird's eye view of the marked property lines to see if any structures and fencing are encroaching onto that or neighboring properties or if the land you're buying is a long stretch of unusable land on a hillside. The property deed listed on the county tax office data base should show if it has any water wells and septic systems along with how much is taxed as residential and agricultural.
It's hard to find property being sold with the mineral rights where oil & gas is being produced or coal being mined. Those were usually sold long ago when property owners were hard up for cash then had wildcatters coming around offering to buy the mineral rights for $10 per acre since nobody believed there were oil deposits in that region. Once oil was discovered, the rest of the property owners kept their mineral rights to collect production royalties then moved away after selling the property. The ptoperty deeds on the county tax data base should show if a property comes with the mineral rights.
The county data base also should have a flood zone map that was drawn up by FEMA using a county supplied topographical map that shows the streams, creeks, rivers, drainage ditches, streets and highways. FEMA will have lines and dashes showing what got flooded during 100 year rain events and typical flooding of low laying areas after unusually heavy rains that tend to occur each year. The Army Corps of Engineers should have their own county maps showing protected wetlands and adjoining uplands that send runoff into the wet areas.
I live in New Jersey, retired and looking to purchase land for my hobbies, a small farm. I must say that this video and a few others that you produced are very very informative. Hands down I will be watching more of your videos !! Thank you. Well done.
Glad it was helpful!
After living in St. Tammany we moved to Hancock County. We found out the hard way during Hurricane Katrina about velocity zones. That deserves a tutorial itself.
I’m learning a lot from you… I can see how your channel is going to continue to grow… You’re a great speaker, you get right to the point, you’re easy to listen to and you offer a wealth of information. I can tell you’re very good at what you do! I’m not even looking for a property. I just like watching your videos! 😂
Thank you. Our goal is to help people.
This is pure wisdom. One can be anywhere in the world, watch your videos, and still be able to ask the right questions when buying property!
Same thing in Europe (not flood zones, but other restrictions), same thing with easements, land borders, neighbors, trees, survey, etc...
One issue that many never consider after looking at flood zones, easements etc. Is power, There better be power close by, or you can end up paying huge money for something people taking for granted. You pay by the foot to run it to your home site on your property.
For 10k you can setup a basic offgrid single-phase power system. Who wants to tie to an unreliable grid that's only going to get more unreliable?
There's also propane.
And not just power, also telecom. Good internet is no longer a luxury, and if the cable or phone company wants $30,000 to run cable or fiber to your home, you may be forced to use cellular or even satellite internet, which simply are not quite as good in certain aspects.
@@my_channel_44 If you want to spend all your time maintaining it.
He's not joking I'm in Brunswick county NC I'm 38 feet above sea level witch is basically a mountain. Half of our county is swamp.
My husband and I are looking to buy land. I am so happy that I started watching your videos. Learning so much, will be prepared.
The Base Flood Elevation is important and it needs to be done with the NAVD 1988 NOT NGVD 1929, which is used to determine elevation of the property. The 1988 is about 1.1 feet lower then the 1929 and FEMA uses the 1988 version.
@7:45 The correct term for the letter you speak of is Certified with a return receipt. Now here are a couple of caveats about them. 1. The customer does not have to sign for the letter; they can refuse it and you get it back marked 'refused'. 2. They can just let the time limit on the Post office holding onto the letter run out (15 days from 1st attempt). When the storage time runs out (they will get a second notice after 5 days), you get the letter back as 'Unclaimed'.
Another way to send a letter to someone and have proof that you mailed it is to use 'Certificate of mailing'. You prepare the letter you want to mail, then go to the Post Office and ask for a certificate of mailing; once you have the certificate filled out the window clerk affixes the fee to the certificate, round dates it and gives it back to you and your letter goes on its way.
One thing I will tell people is if you are getting into any type of dispute; keep copious notes and records because he who is better prepared usually wins in court.
Retired Window clerk
You should send two letters. One regular mail. One certified mail. With a return receipt. If they do not accept the certified letter when it is returned to you, please don't open it. Open it In court, if it comes to that. You will be able to show that you didn't try to pull a bait and switch. The second regular one will not be returned to you because they received it. Most people will not accept a certified letter they will suspect it's trouble coming. Keep good dated records.
Retried letter carried.
@@barbarabeckley8732 Best option is one certified and one certificate of mailing. In our state it is against the law to send a certified letter to a current renter. It has to be by ordinary mail, hence the suggestion of the certificate of mailing.
I was recently named executrix over my parents’ estate. I mailed letters to all renters notifying them of my position, requesting contact info, repair needs, etc. Some aren’t using the physical mailing address but a PO Box. Three of 11 eleven letters returned. How do you give notices when you don’t have their mailing address for a rental? I’m going to be knocking on their door in a couple of weeks.
@@SunshineDr2014Time for a new rental agreement !?
Good contact and information. It’s like a 101 course and chapter for real estate. And these are the type of things that should be taught in the schools for people who want to buy homes.
I agree! Thanks for watching!
People are trained consumers, and think/act like a home buy is like going to 7/11 for a coffee: all the same , all the time. It's tough to break that mentality. These TV shows don't help: what you DON@T see is more important than that new looking bathroom.
Remember that your agent is not actually looking out for your best interests; she/he is looking out for their own profit. I'm a first time home buyer and I'm paying cash. My agent was adamantly against me getting an appraisal, survey, soil testing, etc. She made it sound like this was silly and buyers don't do these things. I'm now in the process of closing on this home and I'm very curious to find out how badly I was screwed.
A realtor typically works in the SELLER'S best interest. You needed a buyer's agent. There are fewer if them, but they work for you.
@@sallyjune4109 She *is* a buyer's agent.
Always get a survey, no matter what
No survey and appraisal wouldn't have been an option for me. You have a right to perform those things, and more, if you choose to.
@@TheRealWayneTurner _Especially_ if the agent dismisses them like she doesn't want you to get them done.
It's NEVER "your" property if you need "permission" to do anything on it! 😂😂😂
I gotta pay rent to the king, in the form of property taxes in PA
You just buy the rights to rent from uncle sam.
I agree. Property taxes forever sums it up. Don't pay them they'll take your property.
Property taxes is what creates the slavery.
Income tax? I can grow a garden to eat, thanks anyway.
Property tax? That's what forces us to work against our will.
It's never your property as long as property tax exists. Just don't pay them and watch what happens.
I subscribed because of how legit and informational you were in this video, i used to be an appraiser at harris county. Now i have my own property tax consulting firm and you are very knowledgeable. I think you should also tell people the property tax implications when developing certain lots!
one thing i always knew was ALWAYS make sure you own the mineral rights... and in some places the air rights can also be incredibly valuable. but for sure, the mineral rights.
Are mineral rights for sale everywhere in US ? In Canada you basically cannot have mineral rights (there are exceptions), crown owns mineral rights
my friend was talking about mineral rights yesterday. about how a local lord of the manor here in england is having to pay to *not* have gravel extracted from this chunk of land he re-purchased because somehow someone overlooked the fact the mineral rights were sold separately by the original purchaser.
This is so helpful! Can you make a video on the best land for homesteading/farming?
Great suggestion! I’ll add it to my list of upcoming videos
Smart man. This video wasn't made for me but I still found it fascinating
I recently discovered your channel and am enjoying your clips so-far. Being 70+ years young and moving around some, I've bought and sold a bunch of properties in several states. I found this clip very interesting due to you touching on easements and encroaching. W/o crossing the line of giving 'legal advice' can you make a video on these subjects sometime if not already? I wonder how some encroaching situations were (easily) handled...simple ones and more complex. I once sold a lot that was contiguous to my home property and my fence encroached on that lot a few inches for a short run. My lawyer created a "Fence letter" for me and the buyer that simply acknowledged the buyer's agreement of the minor encroachment. I think it might have been posted to the county too. This cost a hundred bucks and everybody was happy. One other case was my parents bought a vacation property in early '50s and in '70s they found a utility pole there one day. The pole was just to hold a guy wire, but was an eyesore. Long/short, dad was told there was a utility easement all up the block. He did some checking and learned that there WAS an easement up the block, but that was established well after mom n dad bought their property and none was on their Deed. The pole got removed forthwith...my dad was like that and I learned a lot from him. That was the start of my fascination with RE Law and buying/selling/investing.
Sure can!
I bought a fixer upper house 5 years ago for $9,900. A couple years later the utility company sent me a letter wanting to give me money for a NEW easement as the old easement was about 100 years old. The new metal pole is in and I got 3k that paid for tree removal, a gravity drain pipe to the creek, and an electrical service upgrade!
In case anyone would like to know why it is that the city or perish/county has the authority to tell you what you can and cannot do with your property, I believe it is because of "incorporation."
Incorporation is essentially an agreement between the land owner and a civil jurisdiction to provide services like fire, water, garbage, sewage and power to the private property, but you agree to abide by a set of rules to benefit the community. Cutting down a tree on your property may not effect the community BUT without that restriction, EVERYONE could cut down all their trees, which could cause soil erosion for example. This could negatively affect the community as a whole.
The original job of government was to manage the commons (see The Tragedy of the Commons. The Commons were pasture land used to graze animals. Without a community dividing up time amongst the citizens, the Commons could be over grazed and effect everyone, so government was created to manage that. That is essentially the root purpose of government, no pun intended), and so you enter into an agreement to abide by those rules.
More specifically; at some point in the past and owner of that property entered into that agreement at the time of incorporation, and that's binding across owners.
We also faced a similar problem. The previous owner sold all rights to the development of the TDR. There is no way to build a single house on a 40-acre lot. How did you solve your problem? Did you manage to transfer or restore the development rights of the TDR?
@@user-tu3xq8ll2i I don't have that problem (I live in a suburb). I have family with 160 acres in Montana though. Whole different story though. My family's land was never incorporated. Water is well, sewage is septic and power is some sort of direct negotiation with the power company (I don't know the specifics, but I remember my Grandpa had to pay to run the transmission lines through his property when he had the new house built. Old house was gas and generator).
I was just repeating some of the land rights laws I've picked up (or think I have, anyway. I could be WAY off base).
In south Florida, the cities love to hammer people$$ about code/building violations. People buy homes where the prior homeowner has done something w/o a city permit. This could be as simple as replacing an outside faucet or installing a window on the porch. It could have been done 30 years ago but the city doesn't care because they're so hungry for money. They will levy fines and attach your property if you don't pay up. They hit the people who can't afford it the hardest. Best do lots of research.
Yep, and don’t rely on just what the seller or sellers agent is telling you. Double check everything
I don't know Louisiana laws, but as for the trees, even if you do get permission free and clear, a tree the size of that one behind you is soaking up quite literally a ton of water. If you remove it, that water has to go somewhere.
I grew up on the Cheaspeake bay used to be fairly low income area North Beach Chesapeake Beach then in the 90's all the land became super expensive as real estate speculators drove up the prices, then they built Horrible Condominiums right on the Bay blocking everyones view of the water, the town was built on a marsh but they did fix the flooding problem, and the smell it smelled like fermented swamp mud
As a closing attorney with experience of thousands of real estate transactions, I most often cringed when neither party used a real estate agent. Even with all my experience, I wouldn’t buy property in Louisiana without an agent or local attorney because the laws and customs and especially issues affecting land of that State are different than where I practice.
Louisiana is a rare bird. We are the only state in the union that operates under Napoleonic code and things are definitely different here.
Easement on the property is one thing but more importantly be sure it’s not land locked and you have a easement. Live in NC and have seen several people buy land and not realize they have no access to it. Just because there’s a road running to it doesn’t mean you have the right to use it.
Helicopter?
@@ripvanrevs nah, underground driveways
@@ripvanrevs Then the neighbors complain about the noise. You can't win.
Many States (Oregon) don't allow land locked parcels to be sold. You can force an easement, but lot's in Lawyer fees. Best if you can work out a compromise that benefits you and a neighbor, rather than the money in a greedy lawyers pocket.
Thank you for this helpful information. I Also want to add make sure you have the water rights to. Some places don't even let you collect rainwater or use the creek to water your plants 😢.
Building in a flood plane is always a risk. I have a photo of my grandmother standing in front of her first home, about a block away from its foundation. That was after 1951 Kansas City flood receded. She had insurance, so it wasn't much of a setback.
one of the property lots near be recently went for sale. It was 2/3 of an acre with a small home and a large back yard. The buyer ended up flipping the property. Sold the home on 1/3 of an acre and put the other 1/3 (the main back yard) as a separate lot to build another home on. Now this original property's back yard is lined by a creek. I'd even argue the main part of the back yard is on a flood plane. But as I write this construction of a new home has already begun with a creek probably no more than 15 feet from the side of the house. Further, once the foundation was completed, they came in with top soil and angled it away so that any water from the roof would be directed right to the creek.
I called BS on this and started looking. I just knew this property had to be on a flood plane. You want to know what I discovered? The state never evaluated for flooding at all within the town limits. Outside of town is surveyed quite well but within town not a single piece of real estate is deemed to be a flood plane. And the crazy thing? I have seen entire streets and backyards absolutely flooded after heavy rains. There is probably more property in this town that is flood possible than not flood possible.
So when it comes to insurance, do you think the future home owners will get proper coverage? The answer is no. As far as the state is concerned there is nothing to indicate the property would ever flood. Creek be damned. Heavy rain be damned. Snow storm be damned. I give 10 years before the foundation begins to sag or black mold becomes a problem.
Sounds like her house was set back quite a bit
"Wasn't much of a setback"?
She lost all of her belongings, family photos, family heirlooms, absolutely everything. That's a hell of a setback. Insurance only gives you money, it doesn't replace everything you lost.
You talk about doing due diligence in every video. Can you please explain to everyone exactly how to do the proper due diligence? As a fairly new land and real estate investor with a few deals under my belt, I absolutely love your videos! Thank you for the content!
"If you dont open up a damn quick enough, the dam(n) water's gonna flood everywhere" dont know if it was on purpose but i liked the wordplay, thanks for your videos, they are very interesting to watch as (hopefully) future land owner. Thanks a lot you definitely earned my subscription
I already am familiar with and understand allot of this stuff, but hearing it again never get's old. It helps a ton!!!!!!!!
Glad it was helpful! Thanks for watching
Wicked Great Advice!! Dan’s advice is priceless, especially in the country! Military, manufacturing, drilling, mining and pharmaceutical dumping and experimental toxic wastes have wrecked havoc!
PS. (Things don’t wreck havoc, havoc is already wrecked. They wreak havoc.) 😉👍
The word is wreak. Something wreaks havoc.
One thing he DIDN'T mention is beware of a HOA on the house or property you're buying !! Little DICtators will tell you what you can or CAN"T do with your own property !! Run like HELL !!
Shut up! Or you will get fined for disturbing the peace.
HOA or PUD shows up right on the real estate listing. Also, don't deal with people that don't want to advertise land properly in the internet age. Especially not a simple house on a lot.
My first inkling that democracy doesn't work was when I worked for an HOA and saw how they treated people.
I think the oak tree is closer to 5 or 6 hundred years old. Lots of useful info for first time land buyers. This guy look so cool in front that old tree.
Could you do some videos on buying raw land to set up a homestead that is off grid. i.e. no sewer , no water, no electric and no lp gas with the right to have ones own farm animals for the property owners consumption ?
Thanks Wayne for this awesome knowledge you provide in your videos, very informative for future real estate investors.
Glad you found it helpful!
You asked us to comment on our experience.... I looked at many land plots over the years but never bought one. now im glad I didnt knowing all the pitfalls that U so skillfully warn about! Guess I knew deep inside there were gonna be issues with utilities, building roads, easements, etc...hardly considered flooding or other problems...
Thank you for sharing your experience. It helps others.
You don't go home hunting druing a downpour. Also, ask oldtimers in the neighborhood what really goes on.
Lol, I’m not buying any property in Louisiana, especially down south.
I got killed on flood insurance. I had a house off of the Cahaba River in Alabama. I had no idea. Extra $150 a month in insurance.
Watching this as if I'll ever own a piece of land.
You can do it bro! Get some land(if you want to)!
Have a deed search included in closing...will discover alot of issues discussed. And if something is missed by the deed serach company, they have to pay to recitify problem.
I’m impressed by the fair and measured approach to a complicated subject. You do a great job of nuancing the info, thank you.
If you wanna keep ag exemption. You don't need cattle. You can have a bee keeper keep bees on property. But for ag exemption you must purchase 6 acres min. To be on safe side. 💯
Bees are a great idea!
I like your videos. Useful info although I'm from the north east but there's a lot of similar issues, wetlands, agricultural land, utilities etc. Buying land looks cheap until you figure in all the variables. My concern is all the beurachracy. I can build a house and would general contract that myself. I would pay someone to handle all the red tape with the town. I wish there were more services like that available.
I was in H.S. in Northern Michigan when an acquaintance had an oil company come in and drill for oil and hit some. It'd be easy to think that that 80k (or whatever) is set for life, but they will shut off wells when the market conditions warrant it, so I'd want to know what happens then and do they remove everything if that well dries up or is no longer viable.
Dried up wells just sit there with the equipment rusting through the years. Just in case they want to try to run it again later.
Always get a lawyer involved and depending on the state get a title search and/or title insurance. Look at the previous owners tax bills as they may have special assessments that may be long term expenses.
This guy is awesome. Thank you man . Straight to the point! No bs
Good info thanks, During my second year of studies we did a case study of one of the deals the university did a few years prior. Thing was they bought a property , massive open space of land about 15 minute drive away from some high value residential properties , good price all looks good they want to build their brand new campus there. So they started the environmental impact study half a week later big problem, there is a protected species of moles living right on that patch of land they can not touch it for any type of development , they got handed instruction to put up a fence to prevent illegal dumping and that was about all they can do
California???
@@ripvanrevs no South Africa
We used to live in St. Tammany Parish. That looks like Madisonville to me. I worked on the "Aztec Temple" condos on the lower Tchefuncta River. When the neighboring yacht basin project started driving bulkheads, tons of old glass bottles began to float up. My father-in-law loved them. Love the tutorials. People just don't know, and that can cost them. Keep up the good work!
You can turn that plastic back into crude oil with a microwave reactor, depending on the temperature you cook it at is what product you get. Jet fuel, Diesel, Natural gas etc.
A person can be ridiculously cautious too. If you think about it, a great deal of acreage lies in flood zones, along coastal and river areas. You just have to get it for the right price and be willing to take some flooding risk. Floods happen. If the land seems severally undervalued, it probably is for a good reason. Maybe the owner is behind the eight ball financially and needs to unload it.
this guy should be a professor, so much useful information in a good and interesting way, quick and concisely too.
Wow, thanks!
There is cheap land about 45 minus from me.. could never understand the price difference. Went and looked at a lot and luckily talked to an old lady living in a house near by.. they call it "blackjack soil" and that's why the land is so cheap. It's a strange geological strip of topsoil that runs though a portion of the county. This sold type has will not drain so you cant farm the land and big issues with septic systems in that area. Again I live about 20 miles away with entirely different soil. Never would have guessed.
The information you gave us regarding mineral rights is invaluable!
Thanks a million!
Always very informative, concise with a touch of humor ❤
Do you recommend spending extra money paying down a mortgage if you will only stay in it no more than 5 yrs? Context (Helping a daughter take care of her children while in she is in school - husband passed, so we needed a bigger home for a time. My wife and I later 50's.) Enjoy your videos. Much thanks.
No I would not pay extra if moving in 5 years. Instead save the cash. It’s King!
@@TheRealWayneTurner much thanks Mr. Turner
Great advice and well delivered, particularly the small mentions about being a good neighbor while handling legal issues. I trusted the plat map and some previous staking when buying my 20ac, 5 years later doing a survey with two neighbors as they were wanting to do some logging on their properties and discovered a corner marker was about 6 inches from the edge of my driveway, and about 15 feet from their corner of the fence. Fortunately I'd made some effort to maintain pleasant interactions with those neighbors and we agreed to keep everything as is, in writing, and I let their loggers take 3 trees from the back corner of my property to help with the view they were opening up. It could easily have gotten ugly, but sometimes everybody can win.
Love love love your video's, huge thanks, the information you give is so clear, complete, and valuable, both for buyers and sellers. Thanks again!
What are your thoughts about buying land along a river just for recreational purposes such as camping, fishing and boating. Are these type of land pretty much maintenance free? I understand there will be a risk of flooding, but this land would not be used for any permanent construction.
I remember those storms in Tennessee a few years back. It was bad everywhere in North Middle TN. They knocked power in the county I live in offline for a few weeks and destroyed a few houses.
A friend from the USA had a large area of riverside land that was flood zone land, so he turned it into wet land and he added a large lake. He then put his house boat on the lake and life on it for years Now he used the earth he dug out for lake to create, in effect, a large island with foundations add at time now this island was well above the any flood line. Once his new island had settled, he built a large wooded cabin. and a fish deck.
I did oil and gas research many years ago and sometimes the mineral rights were reserved decades ago.
I’d be terrified to buy a piece of property that somebody else is encroaching on, simply, because I would think a lot of the time… Those people know they are doing so and they aren’t going to take so kindly to somebody making them take down a fence or a building or something. So it may end up causing issues before you even build on the land. Maybe some people will be nice about it, but if it comes to costing them money or destroying property, they’ve already built… I would look for another piece of land. Simply because I would imagine in the future you were just looking for issues with that neighbor.
Garbage is nothing if someone puts one of many endangered species you are screwed
In North California people would get their homes burned down during snowstorms over encroachment.
That's why you get a property surveyed in your specific scenario & make it a contingency BEFORE you close ; or ask for a seller credit to deal with the headache
@@CaliGhost Or tell the seller to deal with it fully as a contingency, after all they allowed the encrochment in the first place.
Or consider that land as already taken by adverse possession when figuring your bid. later if the encroacher leaves peacefully great, basically free land; if they don't leave just legally transfer that strip and let them pay the taxes.
Fully dependent on each property/scenario. I bought a 47+ acre property in wine country from someone who lived 4+ hrs away. Guy hadn't been there in 10+ years since the passing of his spouse and had no idea one of the close neighbors had built a fence and were using a portion for a horse pen. He didn't want to deal with the headache/time to do the survey anymore because of bad memories and took a 200k haircut. Giving away land to people who had no right to own it in the first place seems ludicrous
Thank you so much for sharing your wealth of knowledge!
man i just commented floodzones on another video of yours that was excellent lol had to figure you also covered this topic thoroughly. amazing job getting all this info out to get folks educated on all these things, im learning a bunch
Thanks!!
0:23 A note for Alabama buyers. In most places you have to disclose adverse facts. Not in Alabama. Alabama is a "buyer beware" state, and sellers there are under no obligation to disclose most things they would have to disclose in other states. So if you're buying in Alabama, you have to be extra careful, and you have to proactively ask questions. Per the AL Real Estate Commission: "Neither the seller nor the seller’s agents, unless asked, are required to disclose defects, except those which might pose an immediate health or safety risk to the buyers."
I bought land and then parceled it out for 70ft lots and made $4M on $100k property in the middle of nowhere due to building homes for migrants
Great advice and information provided. Glad to have stumbled upon this channel.
Well made, easy to digest, great video. Thank you!
Glad you liked it!
You've opened my eyes up to a lot of great information; thanks!👍
Plats of survey of single parcels usually do not get recorded. A plat of subdivision shows a map of an original large piece of land with individual lot dimensions and does get recorded. But a lot of land is "unsubdivided" with only a written legal description that gets recorded. Such a piece of land becomes an exception to the original larger piece of land, but is not considered subdivided.
As soon as I win the lottery I'm going to hire this guy to buy all of my properties.
Bought a plot of land without the right to build! the previous owner sold all rights to TDR! Can you please tell us how we can restore the rights to the development of TDR? Who can you recommend on this matter? Or write a possible solution here
I think a real estate attorney would be your best bet
I’m going to buy a piece of land in Florida, you mentioned some informations I knew since before which I forgot. The video was very informative, and also guided me to things I didn’t realize! Thank you!
Glad it was helpful!
In a court of law a return receipt isn't weighted as heavily as you might think. You have to PROVE what was signed for. The neighbor may claim although they signed for the letter, the envelope was empty.
why not
Also understand soil conditions. Especially if there is no sewer to hook up to…
Does the site percolate.
Also, consider what greedy people will do. After weeks of rain and hurricane, probably a developer, contracted someone with a Trackhoe, who arrived and stuffed a building into the upstream side of the drainage. Without that no major flooding would have been possible. But that allowed them to depreciate land they could buy on the cheap. People are evil
What's a what now? Someone stuffed a building into a drainage ditch??? I need to hear more about this lol.
I bought 20 acres of rolling hillside. Best piece I ever bought. Timber Company owned the over the ridge line on the backside -the steep side above...meaning it was protected or locked up by rules pertaining to tax rate on REITS. Small spring.and excellent drainage into a swamp 400 feet below in elevation. The entire property was sloped like a saddle. Deep topsoil..it could rain 1 inch & by the next afternoon you could till..
I ran 9 cow/ calf pairs- western Washington- without field degradation. In the winter I always set up a rotating winter graze area during fast grass growth...then saved for winter grazing. Saved 600 easily on winter feed costs.
Easy peezy
No spray...cept spot on tansy.
I got record prices at the auction...no brag, just fact
The 20 acre piece was more productive than my previous flat- cold -grey clay- 45 acres valley bottomland...a lot less headache & virtually free from water born parasies...like zero - and 2800 foot elevation it was windier, fewer face flies...&.no mud lolololol.
P.S. I forced the timber Company to survey the old fenceline...ended up getting 40 old growth trees that were on my side.
Interesting property. What is your financial objective with this property like developing it for some purpose or selling it for gains?
@Fields_Forks
Farmland. Cattle. 40 fruit trees, I planted.
I was then 57. By 65 it was producing
$ 6,000 per year. On an average of 15 minutes per day of work.
No fancy equipment except a Tractor, which is always a great investment. No fancy truck, baler, or expensive add-ons.
This is the way old timers in the 1930s thru 1980 with small acreage accumulated wealth - 40 years × $6,000 is a chunk of change $ 240,000k in constant dollars.
P.S. it also creates resilience and calm, lolololol, when you look out on 10 cow/calf pairs + a good 1600lb bull. Better than money in the bank. And the security, and safety of providing food on multiple levels.
Angus are the best....friggen bulletproof.
Love some videos on how to finance a land purchase. Not a flip but land to build on. Live in New England but would like to retire in Eastern Tennessee. Our banker, 30+ years, told us it's next to impossible to get a mortgage on land if there's no house on it. To risky for banks.
Thank you for these videos! I'm learning so much! God bless you!
Civil engineer, here. Wetlands are very important and need protections. This is often incompatible with RE developements. I'll leave it at this.
I agree!
They want to open up dams early to free up capacity and allow water to flow out of the area before peak flow. If they do it too late the overflow adds to the flood.
I know of situations where large contracting firms and sometimes individual owners that are just assholes have cut beautiful oak trees and other trees like that without getting the permit first and had the stump ground away and then went and pulled a permit and when the municipality found out what they did the only recourse they had was the stick a fine on them. Problem was, The fine is only five or $10,000 which is not enough to hurt if the contractor accounted for that when he built the price quote.
Sometimes the city or county would make them plant a number of new trees to replace that one, but they were probably planning on doing that anyway and they get to choose where they plant them. They just wanted that one moved because it was in the way of them building their house.
That’s how these contractors deal with things they want to do that the city won’t let them do.
Filing was by hand back in the day. We needed the permit (1953) when we sold our compound in LA. The city had no record of it. We were facing a bond for a patio with no lights, no electricity, and it hadn't been used for fifty years, but the city called it an "outdoor kitchen"?? Finally, I waltzed over to he County registry and a very helpful lady FOUND the permit (a copy). Strange stuff happended all the way into the seventies. Lots of building was not to Code. Or the locals were just connected, or lazy, or maybe paid off to look the other way. But when you buy/sell, it's on YOU to assume de nada. due diligence, a great reminder.
Thank you for packing so much information into less than 13 minutes! The only thing you could do to improve is do specific breakdown videos on flood zones, mineral rights, etc. Maybe you've already done those and I just haven't found them yet.
It still blows my mind that you have to get permission to cut trees on your own property.
Also, something to think about is (specifically) pipeline easements. My husband's family owns a piece of land in Ascension they can never do anything with, and essentially can't sell, because of pipeline easements and limited frontage. There is one pipeline actually there, but the rights to put in another were sold for whenever the company chooses to come and do it.
Easements are a big deal and definitely something to be aware of when you're looking to buy. They can potentially destroy a properties value.
There can also be utility easements. That's often the case when the electrical and telecom lines are on poles along the back property line, and there are underground lines on the street. There will also be underground lines passing in easements connecting those aerial lines to the street to underground part of the network on the street (or if the line needs to cross a street).
There may also be oil and gas pipeline easements. They can sometimes be very wide, much wider than the pipe, and are not always obvious because you can often still landscape and use the land.
Also, if you plan to build or make major renovations, check the municipal regulations, especially for your zone. You may not be allowed to do build what you want to.