Pending 'deal'? Subscribe to Pending 'deal'? 4 posts by 4 users

Cher D.

Real Estate Investor
TX
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3 posts

This is my first post, and I'm sooo glad you guys have this forum!! (I'll do my intro later...)

I am going to look today at a 2.8 ac tract w/creek and a few trees (nearly UNfindable in these parts) with two mobiles. Both have been updated/remodled in the last 5 years, have decks/porches, fencing, etc. I am familiar w/country properties, so it sounds like a lot has been done.

They are/have been owner occupied. They are asking $49K, will consider 10% dwn, balance at 7%. The owners have already purchased next place near grown kids, 20 miles away, but it's acreage too. SO?? (I think a little flexability may be there.)

I am basically looking at this more for myself for the land/weekend place, but might rent out one unit or both until I can relocate build something else..... I'm thinking they may be a little flexible. She said on the phone that she doesn't think anyone has $10K around here, etc. ???? when we discussed owner finance. (I know I'd likely not get financing any other way on this place!) Hmmm...

SO.. as to the $$$.. what do you think? Any tips.

I'll check back on here later today, after I look at it. It really SOUNDs pretty interesting.

Sponsors:

Frank A.


Loveland, CO
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1097 posts

After giving this some thought I'm not sure what the attraction on this " deal" is. When you say " unfindable" I guess you mean the trees and creek, not the 2.8 acres. The acreage is findable anywhere in TX except downtown HOU, DAL, ATX and SAT.

It sounds like $15K/acre, since " used' regardless of updates the MHs have they still have almost NO VALUE (see " Lonnie" deals).

It sounds like your " exit" plan is to build something else on it, " in the future" . How far out? Is that the best and highest use for the land, or just your desire to have a " country" place.

$15K/acre sounds a bit steep to me, but country property has never had an interest to me.

all cash

P N.


OR
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456 posts

Well, I would have had some information for you, but I'm afraid you will scold me.

Not a good plan to get snotty with the people who are trying to help.

Joshua D.

BiggerPockets Founder
Denver, Colorado
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5561 posts

Originally posted by "PNW"
Well, I would have had some information for you, but I'm afraid you will scold me.

Not a good plan to get snotty with the people who are trying to help.

What on earth are you talking about? Please either help the poster or refrain from posting.