Finding Land for purchase (Clark Fork, Kootenai: for sale by owner, rental, condo)

[JJ.Johnson]

Curious if anyone has any stories or suggestions on finding people with land to sell in North ID for an excellent price. Online and otherwise.



One idea I had was contacting people with large plots and asking if they would entertain offers to subdivide. Say cut 5 acres out of 100 for instance. I wonder how that would go over with older folks.



When sending introduction letters to owners what's the best way to get across that I'm not an investor/land flipper?




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[Clark Fork Fantast]

Subdivisions have to be applied for, platted, approved and recorded by the county. You can't just sell off 5 acres from a larger plot. Some neighborhoods don't allow platting below 10 acres. Here is the rule for Kootenai Ct:
Kootenai County, Idaho

In order to subdivide land, usually you must go through a platting process. Exemptions to the platting process are very limited. Currently two options exist for the subdivision of land: (a) minor subdivision or (b) major subdivision. A planner can help you determine which option is best for your situation. The only zone that prohibits land division is the Agricultural zone.

Here is the Bonner County subdivision process:

Instructions: 1. Prior to submittal of this application, the applicant is encouraged discuss the proposal with a Planner. 2. Digital submission is encouraged. 3. The following items shall be submitted together with the Minor Land Division application: A copy of the Minor Land Division plat, prepared and stamped by an Idaho licensed surveyor and containing all required information and plat certifications per Bonner County Revised Code. If submission is not digital please submit a reduced 11X17 copy of the plat. Boundary closures. A copy of plat certificate/preliminary title report. A copy of the currently recorded deed for the subject property. If within an existing plat, applications shall include an additional copy of the plat, currently recorded, marked with distinguishable lines so as to clearly indicate the existing and proposed lot lines. Additional information reasonably required for a thorough review of the application, as may be requested by the Planning Director. Any other information the applicant believes should be considered in the application. Application filing fee. The application cannot be accepted by the planning department unless accompanied by the appropriate fees. (BCRC 12-265

Aside from that, approaching landowners like that is not a good idea, regardless of their age. They will probably already have received letters from multiple realtors, and they will just toss them--like we do.

Go to NID yourself and start driving up and down the county roads. You'll probably see For Sale By Owner signs on properties that may not even be online. Copy their phone number and call them, ask for details, and arrange for a viewing. Don't just enter their property. Some people take down their signs in November and don't put them up again until spring. But because of the ongoing land rush in NID most sellers are well aware of the current value of their property.

[dcisive]

Where homes are concerned it's imperative for one to remember, that home prices in general are a continuing "cycle". It's always been and always will be. Eventually they go in ONE direction.....UP!. Make NO mistake we're in for a "correction" which we've been expecting for a very long time. But the dip expected is by NO means going to be the absurd "chicken little" garbage you'll see by the clickbaiters on Youtube that make you think things are about to dip some 40%. Not in this world. BUT just keep in mind as much as they dip, they will eventually (say perhaps in a few years) begin their climb once again and I can assure you of one thing. The term "affordable" or "cheap" won't apply. So as they say there is, in the end, not a bad time to get yourself planted.

[mistyriver]

This sounds pretty naive to me.
Who is going to forgo making the maximum profit on their greatest investment to help out a stranger from another state when most Idahoans don’t even want any more new people?
There’s no free ride. You want to live here, you’re going to have to pay the going rate like everyone else did or does.

[NW Crow]

Offers to subdivide are more likely to be accepted from family members, friends, neighbors and their kids or grandkids.

But... somebody cash poor might entertain the offer from others. You'd need to know the neighborhood firsthand or follow clues to such prospects. Bankruptcies, lost jobs, divorces, hospitalizations, etc.

Easier to find would be rural land with a mobile or modular home that someone wants to move out of or has already left. Again, gather intel. Who is renting out, who has gone to nursing home or died, or gone part-time or full-time to the city or to Arizona.

[1200RT]

Originally Posted by mistyriver

This sounds pretty naive to me.

Exactly.

You think you're the only guy looking to prospect off land dev in the intermountain west/snake river plateau?

Partner with a land development company or commercial RE development company so you don't seem like an amateur. I've worked with Knipe, if you're looking for a recommendation.

[JJ.Johnson]

Originally Posted by Clark Fork Fantast

Subdivisions have to be applied for, platted, approved and recorded by the county. You can't just sell off 5 acres from a larger plot. Some neighborhoods don't allow platting below 10 acres. Here is the rule for Kootenai Ct:
Kootenai County, Idaho


Here is the Bonner County subdivision process:
Aside from that, approaching landowners like that is not a good idea, regardless of their age. They will probably already have received letters from multiple realtors, and they will just toss them--like we do.

Go to NID yourself and start driving up and down the county roads. You'll probably see For Sale By Owner signs on properties that may not even be online. Copy their phone number and call them, ask for details, and arrange for a viewing. Don't just enter their property. Some people take down their signs in November and don't put them up again until spring. But because of the ongoing land rush in NID most sellers are well aware of the current value of their property.

I was aware that SD have to be approved. Are Kootenai or Bonner counties not approving applications or taking forever?


My thinking is that it's best to put as many feelers out as possible. Most will toss the letter, but you only need 1. I have a draft letter explaining who I am, background, and why I'm looking for rural property. Not boilerplate investor garbage letter.


When I have checked with the for sale sign owners in the past everyone has been way over priced. More than MLS. And on the market for an extended period. But again it only takes 1.



Thank you for the help.

[JJ.Johnson]

Originally Posted by dcisive

Where homes are concerned it's imperative for one to remember, that home prices in general are a continuing "cycle". It's always been and always will be. Eventually they go in ONE direction.....UP!. Make NO mistake we're in for a "correction" which we've been expecting for a very long time. But the dip expected is by NO means going to be the absurd "chicken little" garbage you'll see by the clickbaiters on Youtube that make you think things are about to dip some 40%. Not in this world. BUT just keep in mind as much as they dip, they will eventually (say perhaps in a few years) begin their climb once again and I can assure you of one thing. The term "affordable" or "cheap" won't apply. So as they say there is, in the end, not a bad time to get yourself planted.

Not the topic at hand but agree 100%.

Originally Posted by rockiestoandes

I'd guess than anyone who has land and in the position where they can legally subdivide, given 2 years of crazy prices, had already considered putting land on the market (and probably was approached).
It might be easier through personal connections, where they can see you and know they don't deal with a random person they might not want as a neighbor. I was offered to buy land through short term rental hosts in the places I stayed at, from their acquaintances or family, stuff that was not on MLS. If you stay in rural accommodations run by landowners who have long term roots in the area you might find it helpful to ask around but it's a matter of luck. There're also companies that specialize in buying farm tracts and subdividing them into parcels that are still 5+ or 10+ acres, you might look for them and ask if anything is coming up soon (desirable parcels are likely to be sold out at this point)

Wish I had the personal connections. I'll definitely be staying in rural airbnb and asking for leads.

Originally Posted by NW Crow

Offers to subdivide are more likely to be accepted from family members, friends, neighbors and their kids or grandkids.

But... somebody cash poor might entertain the offer from others. You'd need to know the neighborhood firsthand or follow clues to such prospects. Bankruptcies, lost jobs, divorces, hospitalizations, etc.

Easier to find would be rural land with a mobile or modular home that someone wants to move out of or has already left. Again, gather intel. Who is renting out, who has gone to nursing home or died, or gone part-time or full-time to the city or to Arizona.

Mobile/Modular would work if I could rent it after I built another home on the property. I assume that would require subdivide, septic, and 2nd well? Or do some counties allow 2 homes on 1 plot?

[JJ.Johnson]

Regarding the negative comments in my experience putting in heavy effort (i.e. work) always yields results and savings.



If some got it in their heads that I'm looking to pay half of market value or something absurb that's a little out there and wasn't said.



Do you think there are people out there that just have never gotten around to listing their land or that their circumstances have recently changed or just haven't had the time? I do.


If those people are approached by someone that builds some rapport and then says I want to raise my family in a small community on my own land, and I will do all the paperwork/legwork, pay all expenses, and pay you cash in 2 weeks will they will tell me I'm naive?



I can also introduce you to 2 friends in RE (not land) that buy homes at "wholesale" pricing every month. Almost all via unsolicited letters and bandit signs (which I don't condone). For a while my 1 friend was buying a home almost every week sometimes 2. Mostly from people who lack time, are unsophisticated, or to be honest just lazy. Also go spend hours on land websites. People have vastly different ideas what certain properties are worth. Just my 2cents I do appreciate all comments.



Now if we can get back to my questions....








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[NW Crow]

Some people scrap the old Mobile/Modular and use the existing utilities for their build. Might not do that unless it is really dated / priced low. Sometimes land may be more valuable than it currently "looks" because of the low value housing.

Bargain hunters may not reveal all tactics or productive spots.

If you have a friend operating successfully in this field, would some sort of partnering / friendly or paid assist be available?

On land subdividing prospects, why not check local records on last 20-100 approved land subdivisions and see if they have more? May not dupe but see what they are charging. If not them, maybe a neighbor with evidence that subdividing in area has been allowed.