Homes with Land

[Skyland Properties 0]

Ok, with this topic I'm trying to find ways to get extra value out of some of these CA or SLO deals. I've come across two types of houses with land.

 

Scenario A:

1. Home in town with an extra lot, but attached as the same parcel.

2. Same as above, but two separate parcels, but owner want to sell both.

 

Scenario B:

1. Rural home on 3-40 Acres and all as one parcel

2. Same as above, but home is just on 1-20 acres, but there is additional acreage that can go with the deal as a separate parcel.

 

My question in short, is do you know of a way to keep the land, but just lease option the house?

 

With the separate parcels, it seems like you would draw up two separate lease-purchase agreements, with the land purchase price $1, and then when you find a lease-purchase buyer, just sell them the house/land and you get to keep the extra land. The problem seems to come in if they do not end up purchasing at the end, and now the original homeowner doesn't have a good portion of their land. SLO's it seems you have more of a leg to stand on doing this, rather than a CA.

 

Your thoughts?

[Adam King (MI) 1]

If you can separate the parcels, I would find out like yesterday, what the city/town will allow you to do on them. You could LO one, option and sell the other. You could option one, sell the lumber on the other.

You could LO one and put apartments, or senior living on the other.

Again, what are they zoned for and what can you do with them?

There's tons of possibilities.

Adam

[MichaelC 160]

Adam's right. Zoning is key. Get that info first and then you'll have some ideas about what you can and can't do.