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5 Things to Know - BEFORE YOU BUY LAND
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Күн бұрынFREE TOOLS AND TIPS! Michael Morrow shows you how to AVOID COMMON MISTAKES that first time land buyers make. Quickly learn the most important features of a tract of land and how to evaluate them.
Michael Morrow is a land agent in Texas and founder of the Texas Landowners Association. He shares his experiences buying and selling his own rural tracts of land as well as his experience representing buyers and sellers of rural property.
Resources:
BEST ONLINE TOOLS FOR LANDOWERS! MY TOP 7!
landassociatio...
10 THINGS TO KNOW BEFORE BUYING LAND!
landassociatio...
WEB SOIL SURVEY
websoilsurvey....
FEMA FLOOD MAPPING
msc.fema.gov/p...
For more information about your land, check out www.LandAssociation.Org
@NewDayNewLight Жыл бұрын
I learned more about rural purchasing in 2 videos, 25 mins, than during a 4-week Realtor course. Great content and deilivery.
@LandownerTV Жыл бұрын
Thanks Scott! What a nice thing to say!
@mikebote6675 2 күн бұрын
Careful there! You failed to mention that 1-d-1 are subject to rollback taxes if the usage changes. A rollback tax occurs when a land owner switches the land’s use to non-agricultural. These rollback taxes under 1-d-1 are based on the five tax years preceding the year of change. So, this video is correct in that you can save a lot of tax dollars by using the 1-d-1 "ag exemption". BUT if circumstances change you could be on the hook for a bundle. So like the video says be sure to know where you are before you jump in!
@LandownerTV Күн бұрын
Good comment on change of use, that's very true!
@cognetic 2 жыл бұрын
So glad I found this guy!!!
@daviddura1172 3 күн бұрын
great video
@LandownerTV Күн бұрын
Glad you enjoyed it!
@kevinitman1694 2 жыл бұрын
Great video! Thank you for sharing knowledge
@LandownerTV 2 жыл бұрын
Thanks Kevin!
@kevinitman1694 2 жыл бұрын
@@LandownerTV I live in Dallas county. I plan to buy a small farm about 3 acres to grow fruit and veggie. Which area do you suggest to look for?
@CarolynHoover-qn6xi Жыл бұрын
Thanks! I'm thinking about the Ozarks. Great info!
@TechSchedule Жыл бұрын
Great video!! Thanks! 👍👍
@Nigriff Жыл бұрын
Great info, God Bless!
@LandownerTV Жыл бұрын
Glad it was helpful! Thanks for the comment
@maryhorne3570 Жыл бұрын
Thank you so much for this!!!!😊
@LandownerTV Жыл бұрын
You're very welcome Mary! Thanks for commenting
@generalnewsense5264 Жыл бұрын
Thanks for sharing your knowledge and expertise, I truly appreciate ❤ I'm just starting to look at land and I've never purchased property before, so I need to learn a few things before I move forward with any investments.
@LandownerTV Жыл бұрын
Very glad you enjoyed the video! Thanks for the comment
@sb859 Жыл бұрын
1-D-1...got it!
@minoojaano Жыл бұрын
Wow this is amazing information! Thank you.
@carolinahotproperty Жыл бұрын
Great video
@LandownerTV 11 ай бұрын
Thank you!!!
@mapache_del_sur 2 ай бұрын
It’s crazy that Texas allows mineral rights to be permanent. I think there should be a cap. It’s like they weren’t thinking far into the future when they made those laws.
@yourikondo8579 Жыл бұрын
Everybody suggests FEMA but i looked up my areas and they dont have any digital data 😢
@LandownerTV Жыл бұрын
That's unfortunate Youri, what area or county are you in?
@Jon-wf3tg 6 ай бұрын
I’m close to buying about 15-20 acres and scared to death I’ll make a mistake. I want to build or buy a tiny home ( like a mini cabin ) with basics only living simple off the grid ( mostly ) / I will take all advice.
@alejandrolozano1258 Жыл бұрын
Hello! 'm from Mexico and want to start investing in the US, specifically in texas...I just want to know if you could help me, i want to buy a 4000 sqft land in Austin. First to lease it and then to build a 4 plex. Can you help me with the analysis that has to be made? Thanks!
@Paragon_Reason Жыл бұрын
I'm a man of limited means. I'm starting with $25,000. Is it possible to do a process of Snowballing that number by Buying a very very small piece of land, clearing it, leveling it a bit, putting in a driveway entrance, and selling it for a good profit, in order to buy a bigger piece of land, rinse & repeat?
@LandownerTV Жыл бұрын
Hi there! There are certainly opportunities to add value to properties through simple improvements, including the ones you mentioned. I personally do several of these a year. It's the same concept as "house flippers" use. Purchase an undervalued or poorly marketed property, improve it, and sell it. With $25k you will either start with small rural tracts or possibly leverage "get a loan" while leaving enough cash for improvements and holding costs. Just be aware that raw land can sometimes take longer to sell than residential properties.
@Rubio_Eric 2 жыл бұрын
Question. I was interested in a track and looking at the interactive map on the CAD 1/3 of the track is in a flood zone. The rest was not. If I built a house on the part of the land that is not in the flood zone would I be required to have flood insurance?
@benscratchin7017 Жыл бұрын
Rubio - You would need to look at the USGS and FEMA floods maps. Insurance companies look at the 100 year floodplain maps to determine the need for flood insurance. If you pay cash, or own the dwelling outright, you are not required to have insurance.
@Rubio_Eric Жыл бұрын
@@benscratchin7017 appreciate it Ben!
@stroltz351 Жыл бұрын
I am looking at a property that is in a zone a without a BFE. Can you help me understand what that really means?
@conradmunozjr2011 Ай бұрын
I'm going to a land sale 29 June A company named Ranches at Pioneer pass. Do you recommend this? Go video too
@sheelahdejacto-alburo5803 Ай бұрын
Any inputs pls. ? michael we are not able to send you email either
@amirsahir1 6 ай бұрын
Have any 1 acre listing around dallas, Austin,Waco? Wooded or near water front under $50k?
@LA-wj7dq 2 жыл бұрын
Can it be Ag taxed right after you buy it? Thought there was a 5 year waiting period.
@LandownerTV 2 жыл бұрын
There are a few variables on this but generally the answer is no. If a property has no agricultural valuation it typically has to show agricultural production for 5 years prior to entering the valuation.
@marielouchang3643 2 жыл бұрын
How can we get connected with you?
@LandownerTV 2 жыл бұрын
Hello Marielou! Feel free to email me Michael@LandAssociation.org
@rebeccadees2300 2 жыл бұрын
Is it difficult to find land in Texas with the mineral rights?
@LandownerTV Жыл бұрын
Hey Rebecca, it really is. Most of the land transactions I see are only conveying a portion of the minerals, if any.
@altonkenne579 Жыл бұрын
Yes in South Texas it's rare to find land with mineral rights included if you do find land with mineral rights it's expensive but at the moment a lot of leases are plugging wells and discontinuing Thier lease because of Bidens war on fossil fuels
@danielofoegbu5532 6 ай бұрын
3:30
@christianemmanuelf.domingo793 2 жыл бұрын
Any cheap land i can buy around ft.bliss where i can build bunker, build project cars, plant a jungle, shoot guns all day or night nobody will whine bitch and complain? Can u help me purchase my desired habitat!? I dont care about flood i wanna learn how to build an underground bunker in the sea floor of mariana trench if i manage to become centilionaire anyway although i know thats almost imposible probably even i live for 1000yrs or reincarnate multiple times lol i might still not achive such thing and when i do then i want another project lol building right in the sun's core now thats imposible! But it crossed my mind so maybe find a way haha lol
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