We sold another piece of vacant land today. It was a full price offer, buyer pays half of closing costs, so I didn’t even know about it until the contract showed up in my inbox this afternoon.
It’s 1/2 acre in a subdivision in a rural area. Just land, not cleared, no utilities and it’a on a dirt road. We did nothing to it except list it and sell it. Owners in the subdivision can either put a mobile home on it or build a home. My buyer is going to build a home on it. I am excited for him and I am excited for us because it’s a nice profit on a piece of land we didn’t own very long and one simple piece of direct mail to find this one and others.
Total profit on this one will be around $6,900. That’s the cool thing about buying and selling vacant land, when you buy for dimes on the dollar not every sale has to be a home run. Kind of a buy low sell low on this particular piece.
Larger pieces of land bring bigger paychecks. Total cost of the mailing to locate this property and three others so far was $147.00. Yeah……I’m good!!!
For all the information you need on buying, selling and leasing vacant land check out my website at www.vacantlandgold.com I share with you all the techniques I implement to find these pieces of vacant land, lots of unique ways to sell vacant land and even more creative ways to lease vacant land. That’s where the long term income is and I love that too!!!
On a completely different subject today, here is the first piece of “vacant” land we bought many years ago, back in 2006. You can see why the seller wanted to dispose of this one. We bought it for $1,000 down and $100 per month until paid. It was 2 acres and it was a corner lot.
I learned a technique during this time which would allow us to have this yucky old trailer or any other old yucky structure removed at no cost to us. And we got a tax deduction as well. This changed the way we buy vacant land forever. It allows us to buy vacant land no one else wants to deal with including the seller. We bought this 2 acres for dimes on the dollar, got rid of the yucky trailer, partially cleared it and attached it to another piece we owned next door.
We have bought, sold and leased many pieces of vacant land since that time. It’s just an additional stream of income for us.
For all the information you need on buying, selling and most importantly leasing vacant land including this special technique check out my website at www.vacantlandgold.com You can also check out the podcast I just did with Mitch Stephen which you can find at www.1000homes.com.
For all the information you need on finding highly qualified motivated sellers of homes, multi-families, condos, town houses and mobile homes, check out my website at www.marketingmagiclady.com. When you use coupon code “magic” you will get an additional 15% off your purchase!
I got together with a seller yesterday to chat about selling her house to us. We are going to see the house over the weekend. It needs a lot of rehab and it currently has a lousy tenant and she just wants to be done with it.
It’s not her primary residence so she has no real attachment to it. She already met with another investor who she said was pushy, insulting, and wouldn’t answer her questions directly. She has never sold a home before.
I know I talk a lot about this when I speak from stage but we have to remember as investors that the sellers have fears and concerns and valid questions and we need to be in the business of creating win win solutions for our sellers. In other words treat them with respect!!!
I can’t tell you how many times this same scenario has played itself out over the years in our business. It just seems like there are a lot of investors out there who are just not acting in a professional or compassionate way with these distressed sellers.
So my piece of advice to you today to help you create more deals is – treat your seller with respect, shut up and listen to them, answer their questions honestly and create a win win solution for you and for them!
In addition, if you haven’t already, take the time to create your Credibility Kit so you can show your sellers that you are a professional and you are able to close on their home. Your Credibility Kit will have reference letters in it, copies of checks from deals you have done, photos of houses and much more! Your Credibility Kit will also have a Net Sheet that shows how much more it will cost them to sell the home via other means, like listing with a Realtor.
Here is the link to my Credibility Kit. This is one of the smallest investments you will make in your real estate investing business that will net you a huge result!!