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InvisibleMistaUNGA
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Loc: Kalifornien, im Süden...
Land Auction
    #7985243 - 02/05/08 11:48 PM (15 years, 11 months ago)

www.landauction.com

Anybody ever been to one of these? There is one in LA coming up soon, and I know that property is a good investment. A lot of what they sell is undeveloped (probably not buildable) land. Large acreage for pretty cheap. Some parcels multiple acres for $100 starting bid.

I've never been to an auction before, so I'll need advice on that. Also, I've never bought land before, so any pointers would be nice.

Do you guys think that investing even in an unbuildable parcel is a good idea? The way I see it, even if it's unsuitable for living, I might be able to erect wind power generators, or some other shit. Perhaps have my own hunting land or something, I dunno.

Let me know what you guys think!


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:gc:
Madtowntripper said:Or just give her a cloroform soaked rag and tell her it's ether!


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InvisibleZippoZM
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Loc: Pongyang, North Korea
Re: Land Auction [Re: MistaUNGA]
    #7985286 - 02/06/08 12:08 AM (15 years, 11 months ago)

well you came to the right place to ask the question, im actually a raw land developer, and i exclusively sell my lands through e-bay.

now, i can tell you this. if you really want to get some land for an investment, don't go to one of these auctions.

you will not get any land for less than 200/ac and that is the bottom of the barrel of land. there will be no roads to the land, and the parcel you buy will not actually be staked in. meaning you will have to drop several thousand into just finding where your land is.

and even then, most times, you cant even build on your land due to county restrictions.....

also you would end up buying land in one of the western states, which means that your water rights, and mineral rights, will be owned by someone else. and since mineral rights supercede surface (land owner) rights, if someone wants to mine your land, they will, with or with out your permission...

if you are serious about buying some land, i know many of the developers who sell land at these auctions and would be happy to help you find a parcel that you could actually do something with.


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PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


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InvisibleMistaUNGA
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Re: Land Auction [Re: ZippoZ]
    #7986664 - 02/06/08 01:18 PM (15 years, 11 months ago)

Thanks for the great info. I will send you a PM in the following days to get more.

:ooo:


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:gc:
Madtowntripper said:Or just give her a cloroform soaked rag and tell her it's ether!


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InvisibleZippoZM
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Loc: Pongyang, North Korea
Re: Land Auction [Re: MistaUNGA]
    #7987179 - 02/06/08 03:07 PM (15 years, 11 months ago)

oh yeah, also legal recorded access is a big deal

lots of these auction parcels are literally land locked to the point where you can not get to your land without tresspassing on someone elses.


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


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InvisibleGoodbyeOrb
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Re: Land Auction [Re: MistaUNGA]
    #7987185 - 02/06/08 03:08 PM (15 years, 11 months ago)

Wow capitalist, why didn't you just come out with your e-bay storefront link?:tongue:


to answer the question, lands are generally at auction for a reason.  Start by contacting the lawyer handling the sale and transfer of the real estate, and find out what liens are secured by and to the property.  A lot of times you will buy these things and then get hit by financial institutions and such.  If everything pans out there, then goto the official county/city website for the property, and use the Real Estate Accessment and Lookup Information System to look up the property.  Once you have found the assessment data, print it out.  Specifically, we are looking for size of the property, current tax assessment, and zoning.  You can use the assessment to judge the property value and taxes you will be responsible for.  (IRS rule is 21% on top of county assessment)  You can couple the size data with an MLS or similar service to determine roughly what the property is worth.  Finally, access the city zoning administrator's site, and lookup the zoning definitions for whatever zoning the property has.  Enclosed in that information will be a list of all of the uses you can do BY RIGHT.  If what you have in mind is not one of those uses, forget it.  Conditional and Special use permits are too much of a headache for someone fresh into the game.  Word to the wise though, forget all of that and just go buy an existing building that needs work, and go from there.  If you are looking for residential projects, look for single family homes with deferred maintenance, or small multi-family projects if you have the funding.  They will be the best deals.  If you are looking more towards commercial investment property, then look for blighted shopping centers with vacancy.  Try and avoid the ones with deferred maintenance, as commercial maintenance will kill your bank account.  You can pick up vacant centers relatively cheap, then lease them up and flip them for considerably more than you paid.  If this sounds like something you'd enjoy, then you can go get your real estate license, or partner with a broker.  If you are looking at purchasing, you can generally work it out so that the seller will pay your broker, so all the work that you get him to do for you will be free of charge to you.  DO NOT HIRE ANY REAL ESTATE AGENT.  Look specifically for COMMERCIAL real estate agents.  Residential agents are fucking useless when it comes to commercial properties.  If you can find one that has "see see eye em" (phonetic spelling of letters to avoid google picking this up) behind his or her name on the business card, that will be the best way to go. 

Good luck.


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InvisibleGoodbyeOrb
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Re: Land Auction [Re: ZippoZ]
    #7987197 - 02/06/08 03:09 PM (15 years, 11 months ago)

Quote:

Capatalistc nomad said:
oh yeah, also legal recorded access is a big deal





These are called "easements" and will come up in a $300 title search that will inevitably be done before any bank will even give you financing. Also, ask the attorney handling the deal whether or not they have a certified professional title search available, but I wouldn't hold my breath on that one.


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