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The SECRETS of Buying Land they Didn’t Tell YOU.

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Although Raw Land can appear attractive, it is crucial to approach it with caution. Before investing in raw land, you need to evaluate all the variables thoroughly, especially if the land seems like a great deal. Some of the factors that require consideration include surveys, title policies, flood zones, quality, and suitability for your intended use. Besides, it's critical to factor in the cost of any potential improvements or upgrades that may need to be made and the value it will add to the raw land.
It's important to note that just because a piece of raw land is cheap doesn't always mean it's worth investing in. To make an informed decision that will benefit you in the long run, it's essential to vet all the variables carefully. Do your due diligence, and you'll be on your way to owning the perfect piece of raw land.
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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.

Опубликовано:

28 авг 2024

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Комментарии : 68

@gapperx9068 Год назад

Property taxes = Your rental payment for the property you lease from the Gov.

@Nonotherthan Год назад

We should do something about it

@Hunterbenx Год назад

@@Nonotherthanideas? It’s a lot of us sick of it.

@LuciusKyrus 11 месяцев назад

Wow, the taxes on my paid off home cost me 600.00 a year. That means I pay $50 bucks a MONTH for rent! My car is also paid off. I do have a small boat loan of $160 a month and a motorcycle loan for about $160 a month. The truth is, everyone pays to live, but some of us pay less on a monthly basis which gives us much leisure time and money to enjoy. The whole work smarter, not harder is real.

@gapperx9068 11 месяцев назад

@LuciusKyrus true, but the point is that you don't truly own the property. Let's say you get ill and can't pay that 600.00 Well, guess who's property it is then. This happens on a daily basis. I personally think ppl should be given the option to pay the sales tax in full or maybe split into a sev payments after buying. Then be done. Do you pay sales tax every year for a big screen TV you buy? And yes, we need roads and maintenance for those roads etc, but that's what wheel taxes and state sales taxes should be for. However, governemnt doesn't manage money very well so they need to be in your pockets 24/7 and 6 ways to Sunday

@awesomepost3542 9 месяцев назад

The USA is one of the few places where you never outright own anything because of taxes.

@theresam567 Год назад

I've lost out on many properties because I'm always asking questions, finding out costs, etc before I'll put in an offer. So many states, counties, beyond ridiculous in their hoops, restrictions, regulations, etc. Then add the ridiculous prices of well, & septic (mandatory in most places)... If you have to finance, min 9% interest rate if you can find a land lender. Frustrating. You can't live in an RV, a yurt, a glorified shed, a quonset hut, a metal building (barndominium). Manufactured cost as much or more than stick built. Smh. So, you have to buy a run down fixer that is probably haunted too. :/ I know...

@BuckMT-xf1qj 3 месяца назад

Ran into same issues , re ting is beginning to take its toll too 😡

@ocean1233 Год назад

The agent selling for the buyer /advertising the land who I contacted in another state only gave me 7 days to take care of my due diligence. I wish I had known about your videos BEFORE I signed a Purchase and Sales Agreement!!

@cynthiaj1009 Год назад

Thank you Mr. Turner. Following your advice, we are in the process of buying raw land right now in PA, from the beginning I spoke to my agent about Title insurance,Perc test, survey, etc. your videos are priceless. We decided to buy land and later build the house because the house prices are too high in the area we live and houses too old.

@TheRealWayneTurner Год назад

My pleasure!

@paulisawinsong8224 5 месяцев назад

Be sure to research City or County codes and ordinances before you start to build. You'll probably be required to hire an architect to draw up plans unless you go through a major developer. Be sure to get an estimate for the cost of tap-on fees, permits and other fees required to be paid before the bldg permit is issued. They will probably require you to hire a licensed plummer and electrician, as well as a contract builder to oversee the project. I just went through the process in Texas. By the time all requirements and fees were met, I had spent $39,000. That did not include and materials or work to prepare the paddock where I was actually going to build. Oh, yeah, don't forget the cost of a survey with elevations, soil samples and floodplain certifications, that was another $4,500. It took 9 months from the time I hired the architect to getting the permit. In that time building material prices tripled. Just thought you should have an idea, if you've never built your own home before. Good luck.

@mrpete9958 3 месяца назад

I'm in Florida. The flood insurance requirement that you referenced only applies to Citizens policy holders, not all property owners.

@mikerichards8400 Год назад

You have produced a magnificent video of supreme importance. Thank you so much for for helping us with critical information that we must know before we spend money for property. Wasted money is hard to recover.

@bikenraider99 Год назад

This is gold. Appreciate the knowledge drop.

@TheRealWayneTurner Год назад

Thanks for watching!

@stephenabstract1536 11 часов назад

Always buy over ten acres for Ag exemption requirements vary by county, but generally you need at least 10 acres of qualified agricultural land to be eligible. You can grow low maintenance hay.

@dquinn8344 3 месяца назад

Wayne every one of your videos are great....THANKS!!!!

@mrxtillerx 8 месяцев назад

I'm from Canada 🇨🇦 and as much as you reside in the states, a lot of the information you provide is useful. I'm looking into buying land myself. I want to be able to build a small cabin and rent it out to hunters and use it in my spare time for my family.

@TheRealWayneTurner 8 месяцев назад

Best of luck! That sounds like a great idea!

@ambreenes6694 6 месяцев назад

Also, Thank you for all the work and info it has saved me much ❤️ ache....I'm in the process of buying some land

@TheRealWayneTurner 6 месяцев назад

Best of luck!

@philiplarson8228 Год назад

Now the banks are rejecting your loan because of the area that you are too risky in the flood zone and plus if you don’t have a existing insurance provider, it makes it so hard for them to get a new insurance policy in above 5 flood zone make sure your realtor can guide you on the history. very important before you purchase or make an offer.

@JerryPinkas Год назад

Good Job Wayne! Thanks for sharing you real estate knowledge and experience with buying land.

@TheRealWayneTurner Год назад

Thanks Jerry!

@scottmurphys Год назад

As someone that is looking into buying land to build on, I find your information invaluable. However, the wind sounds really cut into the quality, make it hard to understand you in places and almost certainly cost you views. We all start somewhere and learn along the way. Please consider searching "How To Reduce Wind Noise When Recording Outside." I look forward to your future videos. +SUB

@montes669 6 месяцев назад

I love your videos, but they'd be even better if you got a good microphone that helps reduce the wind in the background. IT's very loud during playback and I noticed that in the last 5 videos that I just watched, there was a lot of background noise. Anyway, thanks a lot for the content!

@gloofisearch Год назад

This is some very helpful information. Thank you.

@jn2292 Год назад

Amazing Information, Great Video....but sometimes the outside shots audio....the wind noise kills it....

@glory3670 5 месяцев назад

The state of Florida does not require homeowners to have flood insurance. Citizens Insurance (state insurance) is pulling a nasty, sleezy, snakey move to try to depopulate it's rolls.

@christinaphillips-mmo Год назад

New watcher and subsciber. Great info!

@susanoakley7322 11 месяцев назад

I live in Nevada and I’m looking at land in Silver Springs. Even though it’s in the desert and near mountains, a Google earth map shows where water runs off the mountains and through the 8 acres. We all saw what happened to the “Burners” at the Black Rock desert😅

@georgetaylor2819 Год назад

GREAT explanation -- there are a few other concerns in addition to these -- am sure you will cover them in the future -- items like zoning definitions and is there potable water and how far down is it -- also -- does the soil percolate. Thanks for all you do and I NEVER wear shorts outside of the house - LOL -

@gapperx9068 Год назад

You don't have to get approval from US corps of engineers to build into water for a small pond on your property, right?

@paulisawinsong8224 5 месяцев назад

You would need to check on deed restrictions in that area as well as checking what the City or County codes are in your area. Also, make sure you get a permit, if required, otherwise if they see you did it without a permit, they will fine you and then possibly make you fill it in.

@NA-ud6qm 10 месяцев назад

I'm about to be homeless, living in my car because I hate the idea of giving money for rent. If I put money towards anything, I want to own it, not let someone else own it. I give my parents at least $1000 from my paycheck so they can pay off their house and move to an area where there is much cooler weather, least I can do after they lived raising me. It will save money but I hate that my life got to this point.

@bingo7799 5 месяцев назад

Sometimes trekking across a property that is severely overgrown would take the skills of Indiana Jones. That's why it's nice at least to have satellite and aerial images to look down from the sky.

@tacobannana6628 Год назад

super helpful thanks a ton

@CR-cx2zc 9 месяцев назад

You should have the complete information of the property that you’re fine so you know the value of it at the beginning before you put an offer in Know the deeds and the restrictions . Get a Platt Go down to the county office and make sure that there is no eminent domain Be proactive, and do you do diligence before you even put an offer in

@TheRealWayneTurner 9 месяцев назад

Most contracts will have a due diligence period that stipulates you have the option to renegotiate the terms of new information is discovered

@Elsa-qy9hr Год назад

I agree it's crucial to do one's due diligence in researching the necessary information. So, is there a LIST, an itinerary so one does miss something very important? 🤔

@paulisawinsong8224 5 месяцев назад

You can go to Cityhall if in a town or to the County and ask what their requirements and restrictions are. Also find out if the property is part of an HOA and see what fees and deed restrictions they have. You can go the the County Clerks office and do a search for the deed to the property. It will tell you what the deed restrictions are. Deeds are considered "public domain" documents which means anyone can pull a copy by paying a small fee.

@Shark-qd1pz Год назад

Did you mention Perk testing?

@generator73 Год назад

I think its better just to rent than own. rent is less red tape and risk. I think I am gonna keep renting life is short anyway

@cecilmartin5065 6 месяцев назад

What can I do,if Bylaws and covenants are not enforceable, after building house

@ambreenes6694 6 месяцев назад

Do you have anyone here in Florida ( central) and any knowledge on building a Church

@TheRealWayneTurner 6 месяцев назад

I can connect you with someone. Reach out to me with your contact info and I’ll be in touch.

@LuciusKyrus 11 месяцев назад

I line in Florida, have no mortgage and have yet to hear anything that flood insurance is required of all homeowners. I do not have homeowners insurance at all because I think it's a waste of money for me. I don't want to support the industry, it's a racket. So far, almost 2 decades and still here.

@philosopherprince339 7 месяцев назад

Awesome. Deltona? Ocala? Treasure island? I'm in Cali.. looking for a change

@paulisawinsong8224 5 месяцев назад

Flood insurance is to protect the mortgage company, protecting the loan and property value. You shouldn't have to have it if you have a clear and paid off deed.

@mrpete9958 3 месяца назад

The flood insurance requirement is only for Citizens policy holders, not all property owners.

@nsh399 Месяц назад

💯

@andrewo7306 10 месяцев назад

I am moving back to Russia. Other there no one take your property and sell it. No matter if you owe million dollars it taxes. No government has rights to make you homeless.