First Investigation

[Dan Erickson]

I am going to be travelling to Joplin, MO in March and will spend a little time investigating the area and possible investments. I will only have a day or two to do this. I would like my first investment to be a piece of raw land that I could use to possibly build my own home on in the future.

In a general sense, where should I go to get information about Joplin and it's zoning?

What type of zoning should I be looking for in a small piece of land for possible future home building?

If I can find an owner-contract with low or no down, what kind of interest should I expect to pay?


Any tips would be greatly appreciated.

In the meantime I am educating myself whenever I can

Thanks

[Spike]

http://www.netronline.com/
You also might try a google search on Joplin realtors,then call or email them and tell them what you looking for.If nothing else,it will give you an idea of property prices and where they are located.
Might contact the Joplin Newspaper and have them send you a Sunday paper.Or read it online @ http://www.joplinglobe.com/
Hope this helps.

[Dan Erickson]

Thanks Spike,

I have already checked a bunch of sites and ads on the Internet and contacted a couple of realtors. However, I notice when I tell them I'm looking for a small property 5-20K with a low or no down, they tend to lose interest. I guess they think they can make better money with other, higher-paying customers. However, I intend to buy multiple properties over the next several years, so the realtor that takes me seriously may very well be rewarded.

Does anyone have any suggestions in finding a realtor that will understand a start-up investors goals?

[investinAK]

Hey Dan-
Have you checked Ebay? I find that there is always a ton of land on there with no qualifying and low down and low monthly payments. To check out zoning you could always go to the city/county planning department. I know our city has a huge wall map with the zoning of the whole area.
Hope you find what you are looking for! :)

[REIaddicted]

when I have called on property in the past... The big ones like carol jones didn't have any interest.

however, the smaller, family owned type did. I would let them know up front that you will be purchasing multiples as you are an investor.

Joplin is growing fast. A great community as we travel there for wrestling a couple times a year. So I don't get to see all that much of it, except my son's wrestling rival/friend lives there.

Matter of fact, PM me.. I may know of some raw land in howel county and dallas county. They are 1-5 are plots, low down and you can do what ever you want with them.

Lisa

[CharleyB]

Dan Erickson;
One of the services that we offer our clients in our design/build firm is zoning changes and petitions to County Zoning Commissions.
Typically, the County Assessors Office keeps track of the zoning for a particular tract because it has a bearing on the assessed valuation of the parcel. Be careful of zoning maps on the wall, often the "over worked" employees don't update them promptly.
If the county or city you wish to buy in has enacted a Zoning Code then that document has to be available to the public by law. After all it is a set of laws that the citizens have to live by. If you intend to be a land developer then by all means get a copy of that code book. There will usually be a copying charge for it.
If you intend to purchase a large tract of raw land then subdivide it you need to be aware of the minimum size lot that can be drawn without going through the Planning and Zoning Commission process. In our county here in Georgia the minimum size is 3 acres (AG3), in an adjacent county it is 5 acres (AG5) and in the entire state of Colorado it is 35 acres. That is, if you subdivide it into lots smaller than the required minimum then you have to present your project to the Planning Commission for approval and then, usually, it has to be approved by the Board of County Commissioners. This process can be extremely expensive because you are required to: survey all the lots, provide a water supply, provide waste water treatment (depending on the soils), provide roads to county standards, surface water detention ponds, more. This process, if required, can run the cost/lot up by $10.000 or $15,000 very quickly. Keep in mind that this procedure introduces politics into the equation and the whole project can be rejected and your money is out the window.
If indeed, you intend to stay within the minimum lot size restriction then I suggest you meet with the county Director of Zoning/Planning and have a preliminary review with him/her of your proposed subdivision. They can still shoot you down if problems of traffic congestion, neighbor's complaints, etc. come up. It's not automatic.
Local political attitudes, pro-growth or anti-growth, can be a hugh factor in the success of land developments.
Also, the most successful subdivisions are located 15 - 20 minutes from population centers. People don't want to drive too far.
In other words, do your homework before you dive into raw land aquisitions.
All the Best,
CharleyB

[Dan Auito]

Charley, one day I'm going to have to invite you and your wife down to Florida for a little vacation, now it won't be all play but the wife can kick back in the lazy river or go play with the horses while I work you like a dog in helping to research and label all the zones in my operating area.

I intend on having maps throughout my office that are labelled for targeted acquisition and so forth, I'll try and tap into that wealth of knowledge you have in this area in the future. :icon_bete Man the networking potential on these boards is tremendous if I do say so myself.

Let's grow people!!! :clap:

[CharleyB]

Dan;
I have some ideas with regard to the mapping.
Just two words right now.
THINK DIGITAL!
All the Best,
Charley

[Dan Erickson]

Thanks for all of your input. I know I have to do my research and learn the plats and zoning of the community. I will probably use this trip only as research, unless I find and excellent opportunity. It's great to have all this input, advice, and support.