Advice...needed from some older wiser people

EZ Money · Jan 25, 2011

Being it is that close to Charlotte i would think the value would go up over the years.
Rock Hill and all of that area keeps growing.

If you think you will one day build a house on the land check into seeing if the location of the house will pass a perk test.Then see what it would cost to get a power service box installed,water and septic.

Find a good used travel trailer and park it there for time off.
That would give you a place to park the boat and put up a storage building for other stuff.

I have a 28 foot travel trailer and i would have no problem living in it...

American-Trucker · Jan 25, 2011

HD_Renegade said: ↑

AT - Work with a relator on this. You will be so much better off. 175k is a lot of money for jsut land. I would bet that there is decent land between home and Conover. I know that area pretty good. I have a very good friend that has been looking at houses south of Conover, there are better deals out there.

If you would like the people they are working with send me a PM, and I will contant my frineds in Conover and ask for the info.

My friends are less than a mile from the Conover terminal.

Bob
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I want to live in SC, as much as I like NC the taxes and gas/fuel prices are allot cheaper down there. A Realitor does sound like a good idea though...

American Trucker

Rerun8963 · Jan 25, 2011

if you do decide to buy this, you need to have a fixed interest rate, not adjustable....

you want to spread out the payments for 15 to maybe 30 years if this is possible on land only purchases..

you need to have the land surveyed to make sure of the boundaries, and this alone will cost money.

you need to have a lien check done on this, he may owe money, you do not want to be caught up in a lien holder battle.

you need to make sure its build-able land....and what restrictions the state. city, town has, as well as wetlands laws......

you need to make sure its not in a flood zone

you need to know if hazardous wastes were ever buried there, or of the land was used at one time, as a landfill...

the land is always great to have. the real estate market can only go up in the future, that land will cost more as time goes by and the best time to buy is when its at the bottom, which in many areas, real estate has bottomed out, check with a realtor on this, even the banks...will tell you...

it can be good farming land, you could lease out a few acres to nearby farmers for grazing animals, or community farmers, so you can make some money on this land as well as build your log cabin on it....(i like log cabins on farms)....

i say when everything checks out, go for it.......but do not take the owners word for anything.....think of the owner as a trucking company recruiter...."they'll tell you anything you want to hear"......

American-Trucker · Jan 25, 2011

AF461 said: ↑

AT, First off, you need to find out the particulars. IE...will you receive all water and mineral rights to the property? Is there a well on the property or is there city water running to it. How far away is the nearest electrical connection and what is the cost for the power company to come out and get power to the property. You will also need to find out if you can lease the property out for hunting purposes to make extra money.

Next, you need to find out what this owners interest rate is. I can guarantee he is not willing to do it for 0% and if he is anything over 5.5-6% he is crazy. Also, find out from the owner if you have the option to go to a bank and secure the money to pay for this. Lastly, is this property developed or undeveloped?

I think you head is defiantly in the right place. There is nothing better than owning property and knowing your money is being invested wisely. You just need to make sure you cross all your "T's" before jumping into this.
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I agree 100% on cross my T's. Not sure if there is a well or not, but it doesnt matter I will NEVER live off well water again, as "Bad" as city water may be i've had far to many bad experiances with well water. There are houses near buy as well as a brand new devolopment 2 miles away so im sure power/sewer/water cant be too far away.

I've just started talking to the guy I still have allot of ?'s for him.

American Trucker

American-Trucker · Jan 25, 2011

the flying scotsman said: ↑

unless of course you don't see it as an investment but you see this as a potential future home for your family..

ive been on my own in regards to property for 14years, overseas and now in the US too, and its become all too apparent that right at this moment in time we all want to have as little debt as possible because honestly who knows where this country is going, or even where the dollar is going, but that is not to say that you should not get in debt AT, as we also need to be looking at having "that place" that we dont rent, "that place" that is OURS!!

As a previous poster mentioned about a realtor, that may be a good idea, i mean if this guy is gonna finance you and down the road you are in deep...what if he goes under financially?? would you secure your piece to the value of what you paid?? but maybe lose this place you wanna call home?

I mean it sounds real nice and in regards to living in the truck, heck if i was a single guy sure id be giving this kinda thing SERIOUS consideration!

good luck with this possible venture and its clear from your other thread that at your age you really do have your head on your shoulders..
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Exactly!

American Trucker

American-Trucker · Jan 25, 2011

86file said: ↑

I took a look at the property online since your description gave me enough info to look it up. Looks like a nice property from the air and the price is nice but, having worked with a surveyor, I would not jump into something this large unless you have someone very knowledgeable in real estate to help you along. I've seen many folks get burned because they didn't understand all the potential pitfalls in buying property.

Does the land perk? And don't take the seller's word on that! They should be able to show a soil test/plan from the health dept. if it's been checked recently. That's one of the most important questions if you're thinking of building on it or subdividing it in the future. There isn't going to be any public water/sewer around. Sounds like a minor thing with so much acreage but we've surveyed similar pieces of land for customers that had high hopes of subdividing only to find out they would have to invest double what the land cost them just to have proper septic systems installed. Many vacant or abandoned sites are so for a reason, and that nice flowing creek could quickly exclude a lot of land from being usable, depending on how it flows through the property, due to mandatory setbacks and stream buffers.

Check with the Cherokee County Land Records department and get some detailed info on the property/taxes/etc. Check FEMA flood maps to be sure there are no gotchas that can make insurance incredibly expensive. Check for a well and see if it's been tested/passed. There is likely one there but it may be no good according to the health dept. Might as well plan on adding both well and septic to the initial costs, since you won't be allowed to build/live on it until they are in place.

Also, when/if you drive out and look the property over, walk all the property lines, look for potential problems like encroaching buildings/fences from neighboring property. It should have been surveyed recently enough to have all the lines clearly marked. If there are any encroachments, they are easier to deal with before the sale rather than after. Encroaching fences are actually pretty common. Visit or call the last surveyor (name and license # will be on the map you get from Land Records) and just ask them if they see any potential problems with the property. Things like power line/gas/utility easements and Right-of-Way can come into play when least expected.

Not trying to discourage, just be sure to go into it looking for trouble, because there is almost always something there to mess you up. A good experienced Realtor can be worth a lot of money here.
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wow lots of good info there, I do know about doing a soil test to see if I can even build on it but what is a Perk Test?

My plan would be to build MY house on it and make it a home for myself and my family (someday). I would never chop up such a perfect piece of land. Unless I had toget rid of it for somereason.

Building on it would be a later, probably MUCH later in life thing, I'm only 21 now so I figure by the time i'm 30 I could and should have (assumeing I were to buy this property) this paid off and some money for a house and Morgage the rest...or something like that, its too far out to predict. But thats the idea im shooting for.

My dad was in construction for most of his life age 12-40 he owned his own construction company and for the last 8 years of his career he was a Superintendant for Superior Construction so he knows allot about this part of a build as well as knows the people I need to talk to or have look at this before I would buy it. So when or if I go to look at this I would deffinatly drag him along lol

American Trucker

American-Trucker · Jan 25, 2011

EZ Money said: ↑

Being it is that close to Charlotte i would think the value would go up over the years.
Rock Hill and all of that area keeps growing.

If you think you will one day build a house on the land check into seeing if the location of the house will pass a perk test.Then see what it would cost to get a power service box installed,water and septic.

Find a good used travel trailer and park it there for time off.
That would give you a place to park the boat and put up a storage building for other stuff.

I have a 28 foot travel trailer and i would have no problem living in it...
Click to expand...

Thats what I was thinking, worst case If I change my mind I should be able to at least get my money back out of it.

I was also thinking after a year or two of living in the truck I could just buy a 5-10 year old trailer (single or double wide) to just throw on it until I can afford to build...

American Trucker

American-Trucker · Jan 25, 2011

Rerun8963 said: ↑

if you do decide to buy this, you need to have a fixed interest rate, not adjustable....

you want to spread out the payments for 15 to maybe 30 years if this is possible on land only purchases..

you need to have the land surveyed to make sure of the boundaries, and this alone will cost money.

you need to have a lien check done on this, he may owe money, you do not want to be caught up in a lien holder battle.

you need to make sure its build-able land....and what restrictions the state. city, town has, as well as wetlands laws......

you need to make sure its not in a flood zone

you need to know if hazardous wastes were ever buried there, or of the land was used at one time, as a landfill...

the land is always great to have. the real estate market can only go up in the future, that land will cost more as time goes by and the best time to buy is when its at the bottom, which in many areas, real estate has bottomed out, check with a realtor on this, even the banks...will tell you...

it can be good farming land, you could lease out a few acres to nearby farmers for grazing animals, or community farmers, so you can make some money on this land as well as build your log cabin on it....(i like log cabins on farms)....

i say when everything checks out, go for it.......but do not take the owners word for anything.....think of the owner as a trucking company recruiter...."they'll tell you anything you want to hear"......
Click to expand...

of course he's tryin to sell something lol

I like log cabins too, but not in this application. I was thinking a "country Style" house just not old but with that look though ya know the porch across the front that I can put my rocking chair on when I get old

None of these is exactly what im looking for but to give ya an idea....

American Trucker

claredog1 · Jan 25, 2011

I think I might buy this land myself, let me go do some research.

123456 · Jan 25, 2011

AT,

You're Good !!!!!!

But I can see right thru all this horse squeeze................................

You're going to open the first..........................

AMERICAN TRUCKER TRUCKSTOP !!!!!!

aren'tcha ?????

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