I was driving today through a wooded area and saw a for sale by owner sign for 5.6 acres of raw wooded land. The woman says it is zoned residential, it has a PSEG wire going across it. She said 1 acre is buildable. She aquired it through her mother who died and she is selling the 5.6 acres of land for $40,000.00, shocked at the price she was asking, i didnt even ask the magic words “Is that the best you can do” I was so dumbfounded
I looked on the MLS and about 5 lots of land showed up for the whole county, and the cheapest was $90k but it didnt say how much land. I’m thinking for south jersey, I should be able to get a purchase sale agreement for the $40k for 60 days, and just whole sale it. What do you all think?
You dont need a back door strat if your going to wholesale it because if you use a clause then you give your buyer a way out and you dont want that. Your way out is just letting the contract expire.