Researching land in Idaho. Is anyone familiar with buying land in Idaho and what counties have they dealt with?
@dennis, I recall several months back doing some very preliminary research into an Idaho county, but abandoned it pretty quickly in favor of other pastures. After seeing your post, I was trying to remember why I moved on, and I think it might have been, in effect, because it's a non-disclosure state. For me, so far I've found the non-disclosure states make it more difficult to reliably determine market value, affecting my confidence in offer amounts, etc. Seth has a great blog post about disclosure and non-disclosure states (and those somewhere in the middle), along with a color-coded map of the country: https://retipster.com/non-disc...
@dl7573 Thanks Dave for the info it's greatly appreciated.
You bet, @dennis. If you give Idaho a shot, I'd be curious to hear how it goes.
Also, I was discussing with some other land investors several weeks back how there might be some advantages to really getting up the learning curve on valuations in a non-disclosure market. Our rationale was, presumably there might be less competition from other investors, and the prospective sellers won't have easy access to public data regarding comparable sales, either.
@dl7573 I'll be checking into it and keep you updated.
Thanks again.
@dennis
I work in a couple non disclosure states and use on market comps to get rough market values. My offers are in the low range so it has worked for me.
@Dennis Morning Dennis,
I had done some work around Troy, Id when one of my associates moved there some months back. I sent mailers and did a lot of phone work. Nothing came of it so I moved on. I felt that there was too much being bought up by high end buyers to get anywhere.
@dennis I’ll keep you posted, we just purchased our first property in Idaho. I’ll admit, we mailed quite a bit until we got this opportunity, but I think that is more to do with that Idaho is a growing state and land is quite thoroughly utilized in the main valley there. We’re in Jerome County, Idaho. The lot is nicely curated as residential 5.6 acres, we bought for 86K and listing for 150K, about 30K cheaper than the other lot for sale in the same small subdivision. It’s listed now, so it’s really up in the air on when we’re able to find a buyer for it.
We’ve mailed most of Idaho already, and it’s just expensive relatively but no reason not to mail it, just keep under that price floor when looking at what is for sale. Make sure there’s enough comps to satisfy your buys.