Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: revenuem on February 05, 2018, 03:30:29 pm

Title: Wholesale Lots Or No?
Post by: revenuem on February 05, 2018, 03:30:29 pm

  :banghead  :help  I'm sitting here waiting on a lot contract to come through. Seller wants a little above the county assessed land value. Its a suburb of Atlanta and the last lot in this subdivision. I haven't had success finding lot buyers in the past so never got any under contract. This particular lot is in an award winning community and its hard to find any for sale unless they were foreclosed on. Properties are not cookie cutter, most are brick with at least 2000 sqft living space and prices range from $200k to $400k which is awesome in the Atlanta market. All utilities are there and I even have the covenants from HOA...
Was I right for just accepting county value as my offer or should I have gone lower?
Is the closing process the same for lots?
What info does one need to give to buyer to make them jump all over the deal?
Should I be looking for builders to market this to?
What is a plat?
Title: Re: Wholesale Lots Or No?
Post by: Dmccright on February 05, 2018, 07:11:16 pm
Imo you're paying too much but you know what they say about opinions. Take a quick zillow look at what property is going for and your number should be avr x .10= offer. You will be able to sell it at that number. I also usually take possession of the property because it doesn't move fast like homes. So if it's comping out at 100k I offer 10k and list it on Craigslist and zillow for 50k. I offer financing as well so I would get 10k down and finance the 40k to make it cash flow.
Title: Re: Wholesale Lots Or No?
Post by: phxrei on March 10, 2018, 02:14:27 am