Conroe, TX · Member since 2016 · 237 posts · 43 votes
My father in law has some raw land in several areas that he purchased quite a few years ago as speculative land purchases that ended up not going right. He has had them for sale, but not spent much time on them. They are in Arizona (AZ) and Colorado (CO), and they are all larger tracts of land. Is there an ok chance of them selling through BP or does anyone have another suggestion on how to market them? I really it is somewhat vague but I'm not sure what else to ask. He also has a large hunters cabin or vacantion home on property in Colorado as well.
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@Daniel J. it's really all about price if you want to move something quickly. Generally speaking the best price comes from the highest exposure. The highest exposure comes from listing with an agent. If the land has been listed and hasn't sold in a reasonable time (say 6 months), it's over priced. While I am a big fan of BP, the market place has not helped me sell a property yet. BP does help me build relationships which in turn have helped me do deals.
The metro markets, Phoenix and Tucson continue to do well. Both markets have been stable for the last 6 years and builders have purchased most of the improved lots that exist.
Raw land is hit and miss, location, location, location, location!!
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@Daniel J. it's really all about price if you want to move something quickly. Generally speaking the best price comes from the highest exposure. The highest exposure comes from listing with an agent. If the land has been listed and hasn't sold in a reasonable time (say 6 months), it's over priced. While I am a big fan of BP, the market place has not helped me sell a property yet. BP does help me build relationships which in turn have helped me do deals.
Conroe, TX · Member since 2016 · 237 posts · 43 votes
9y
@Doug McVinua@Denny Robert I'll have to ask him for the exact location. I know it is outside of Phoenix in an area that was growing in that direction and then reversed suddenly. That has been the problem and he obviously is not wanting to take a loss.
@Bill S. They have all been listed, I know he has played with the price but as mentioned above would prefer not to lose on them. They are all properties he has all had for at least 10 years. Good to know about the marketplace, thanks!
Rental Property Investor · St. Louis, MO · Member since 2013 · 194 posts · 100 votes
9y
The thing about being devoted to not taking a loss is there is also an opportunity cost. What could have been regained? Probably easier said than experienced.
Though I get it. I have a friend who bought $1.5m of lots down in Casa Grande. He is still sitting on them as well. Someday they will make him a bunch of money.