How Do I Check the Soil in Florida and in General? - Yossi Beit Yosef - Post 5
# Entrepreneur of the Week Yossi Beit Yosef # Post 5
How do I check the soil in Florida and in general?
In post 2 - I mentioned that developers or investors do not ask what can be done with the land?
This is a very important question because only if we know what can be done with the soil can we know what to test and start the testing process.
An equally important second question, is what is our goal in the deal? - What is our starting point and what do we want to do with the land in general?
The answers to these questions will give us an answer to the question: what tests, I want to do and how much money I want to spend on tests!
The most important thing is to know the area and know the rules of the place - how do you do it?
Open up county websites, talk to local land brokers, and travel at least once to get to know the area.
If we take the example: Florida is a state that protects the flora and fauna and has many restrictions on this issue in different areas - ignorance can make you buy land at too expensive a price.
In Texas, on the other hand, it is advisable to pay attention to the issue of “mineral rights” - you would not want to purchase land in which the oil rights will remain in the hands of the seller! Especially if one day you find yourself sitting on a huge oil slick ????
Zvika came to me to help him sell land he had bought a few years earlier. "I have an excellent plot, my corner was proud of Zvika in my ears," The test we did revealed that there are two turtle nests on the field.
In Florida as soon as there is turtle nesting - the lot is automatically declared a nature reserve and construction on it is prohibited,
The training of the plot for rebuilding increases the price of moving the turtles to another place - the price is about $ 6,000 per nest
So a potential buyer of Zvika's plot will have to invest another $ 12,000
The price of the plots at that time was $ 8,000, so it made no sense to buy Zvika's plot.
Zvika also bought the plot at an exorbitant price of about $35,000 and had a hard time dealing with the bitter cut.
And he decided to find his own solution - at this point I said goodbye to him - leaving you to imagine Zvika's solution!
If Zvika had done the necessary tests, he would not have reached this state - get to know the area!
My friend Yossi Golan wrote in his post as an entrepreneur this week an orderly list of what should be checked for construction needs, read his post there is a detailed list and I will not repeat it here.
As a flipper of lands, I will perform only an initial inspection and the rest of the inspections I will leave to a customer who wants to purchase the land, as an entrepreneur who wants to build tomorrow morning I will conduct other inspections.
One of the important tests to be performed for construction purposes are survey tests and measurements called survey
The Land Survey defines the boundaries and features of a plot of land, including roads, service lines, buildings and natural elements such as ponds and streams. Other facilities cross the property.
Because the survey needs of a commercial real estate investor are different from those of a homeowner who adds a garage - and both are different from the needs of the lender - there are many different types of surveys.
These are the most common, although the commonly known names may differ slightly depending on the location of the country:
1. Mortgage or ALTA / ACSM survey
This is the comprehensive survey that most lenders need underwriting requirements. This ensures that the property is as described in the legal documents and covers all the features and characteristics of the property.
2. Boundary Survey - This is the survey that the homeowner will be able to identify and verify the legal boundaries of a property.
3. Location Survey - This is a comprehensive border survey with information on improvements, usually used for the purposes of area loans and permits.
4. Web Design Survey - This survey combines a topographic survey of roads, canals, services and batteries with a boundary survey. Web design surveys are used to plan home and subdivision plots, commercial and industrial developments, transportation infrastructure and leisure facilities.
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