I just walked off the set of Real Estate 101, a weekly show that promotes real estate education on Facebook.com/TommyDavidson every Wednesday at 1 pm central, and this was today’s topic. It seems like so many people desire the 5 acre tract on a beautiful setting. What I have found is that so MANY CHALLENGES go into this journey.
Friend, let me tell you. I have bought two five acre tracts of land in the past year. I thought this was simple. I have made the same mistakes both times. It would seem logical that I would learn sooner.
What did I do wrong?
I looked at the lot and thought the price was good, and I moved forward…only later figuring out something was missing…like the ELECTRIC.
How could I be so DAMN DUMB. I didn’t make this mistake once, I repeated this twice.
What should I have done to not be a dumb ass??? I should have put stipulations in my contract to the previous seller that included, but not limited to the following…electric, water and proper sewer available at the property. There’s many other factors a new land owner should consider before the purchase.
Buy LAND with CONTINGENCIES to protect you.
What does this look like? Make sure you get with an agent builder that can go over any potential scenario that could be a problem.
Buying/building on land is not a do it yourself job. This is not easy. It is not like going to Home Depot and building a deck. I can almost guarantee you that will be limited savings at bests.
So why would you want to do this alone?
Lastly, I would tell you to learn as much as possible, because when you know more, you will accomplish more. This is so much a FRONT end job, you can make costly mistakes that will EAT all of your equity.
Please watch Real Estate 101 for more information about building out in the country.
Are you thinking about buying or selling a house? I want to be your agent. I want to Educate, Navigate, and Celebrate this transaction with you. I have over 14 years of Experience in the real estate market. The market is moving fast and I want to help bring you from confusion to clarity. I would love the opportunity to work with you. I can be reached at (615) 895-7677 and Tommy@GTTHomes.com
Tommy Davidson, also known as Good Time Tommy #GTT, is a real estate entrepreneur in Murfreesboro, TN. He focuses on building relationships and self improvement. Learn more about Good Time Tommy at www.GoodTimeTommy.com. Watch Good Time Tommy on his weekly shows called Real Estate 101 and Straight From The Gut.