Hi. I am new here. 
I just bought a great and SUPER CHEAP 2 acre parcel near Klamath Falls Oregon for personal use. Although somewhat remote, it has electric and phone on the adjacent parcel, and a view that makes me swoon with pleasure!!! I am very interested in learning more about real estate investing. I really love the parcel I bought, and want to keep it. However, I would like to invest in some other parcels nearby and sell them at a profit. There are a few sellers on Ebay who sell properties cheap and who offer built-in financing with around 11-12% interest. I’d like to buy some of those parcels with cash (they offer large cash discounts) and them sell them (not on ebay!!) at a profit via more traditional ways-pictures in magazines, etc. What do you guys think of that? I did pretty good with the 1st house I FORCED my hubby to buy–we have about $300k equity now! I am a Veterinary Technician and have reached the ceiling of pay, and want to break into real estate investing, both long term and short term. Any must-have books and learning tools for beginners anyone recommends? Thanks a lot! I look forward to hearing replies/advice.
Michelle
we have about $300k equity now
Great Place to be Never borrow against that 300k for any reason look at it like this if it all goes south you can still go home!
Other then that buy low sell high!!
Robb
Why not build a nice cabin on your parcel and sell your home for 300K profit? Just a thought. A lot of the eBay stuff is pure junk, so be careful there. If you can’t build on it, or it’s in the middle of a desert someplace, it’s on eBay. Many sellers use “file photos” of a perfect property and use disclaimers stating it’s not of actual lot (usually in small print of course). So check it out, and check out zoning and flood lines at the town.
Personally, I wouln’t invest in land. Invest in rentals that will give you cash flow. Or rehabs that you can flip. Read my blog below and it tells how we invested in rentals. You said you want to buy land cheap and sell high. Why do you think land is being sold cheap? Could it be they can’t get rid of it? If they have to sell it cheap, how will you make a profit?
And like the other poster mentioned, I would be very caustious on ebay auctions for land. You need to go see it and verify where it is and what it looks like. Don’t go by pics on the net.
Good luck in your adventure
Hey,
Here is a little story about buying parcels or lots of undeveloped land even though my lot is developed (streets, electricity). Several years ago I bought a lot in Horseshoe Bay outside of Marble Falls, Texas. This development has three top rated golf courses, lake views, and many movie stars and singers have homes here. My lot was part of a large expansion of the orginal. Now, several years later, my financial advisor is urging me to sell it as the develpment hasn’t reached there yet (it IS getting closer with $500,000 homes) but I have lost money with taxes and neighborhood association fees. Point is, how are you going to make money on this and are you sure? Anybody want to buy a lot on Horseshoe Bay and live “close” to Meg Ryan?
Peace,
Richard
Hi back, and thanks for your quick replies!
The land we bought was 2.11 acres for $7,500. All checked out, no bad secrets lurking no CUP’s needed, well water drilling at 200-400 ft avg. in the subdivision, just REMOTE, (30 miles from Klamath Falls, but 3 miles from a tiny town called Sprague River. There are only 397 residents. The parcel I purchased will be a great get-away for us! The remoteness is fine with me! I have the plat, pictures of the actual parcel with the red lot #/Block # it, just like all the other parcels have. The taxes are a little over $100 per year and no association fees. The one thing that isn’t perfect is, the parcel next door with the electrcity and phone is a dumpy-looking place–like a modified trailer. I know there must be other people out there who are thinking like me. I had a week to research the area, the demographics, and felt comfortable with the seller’s 100% excellent feedback. I also checked local Realty Listings and discovered in the same subdivision, parcels are offered at $12k and up, with NO electricy nearby! Also, I had taken a road trip to the area years ago, and made a mental note to buy land someday in Medford or Klamath Falls someday, I liked it so much! Anyway, I was so excited about finally buying some land, I thought I might be able to make a few thousand here and there, and kind of get my feet wet with small risk and small $$. I plan on educating myself before I go jumping in to buy and sell, of course. That’s why I joined this forum and read posts til my head spins, and plan on buying books galore and listsening to all the been-there-done-that people. (Now won’t I feel stupid if somehow it was a bad deal!) Glad you are all here; Thanks again! Michelle
You might want to try your local library for books. Mine had a great section. I didn’t have to buy any books to achieve my success. Just a thought.