Wholesale land in Los angeles???

4 Replies

can i wholesale land? previous house was knocked down in a los angeles community. Loan balance on the property is $37,000

You can wholesale any sort of real estate, land included, if you can find a buyer who will pay more than your price to purchase.

Use an option contract to protect yourself on this one, incase you cant find a buyer.  Make it a long term option because it might take a while to find a buyer for raw land. 

You might want to try and sell it to rehabbers, some of them will build from scratch. 

I hope that helps.

Josh

What part of Los Angeles, some parts ea. Woodland Hills, Sherman Oaks, Chatsworth, etc. these areas have very few flat buildable lots, and the cost of building on them will be very high. Other rural areas such as Palmdale , Lancaster etc. are dirt cheap for a good reason. But if it is a flat parcel  in a built up area you should have no problem, (if the price is right)

Loan balance has got nothing to do with it, it's the purchase price that counts.

Originally posted by @Manolo D. :

Loan balance has got nothing to do with it, it's the purchase price that counts.

 was just pointing out the loan balance. and yes the loan balance does have an effect. what if loan balance is -35k then i have very few options on what i can do with it.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.