I'm really new. I haven't done a wholesale deal before but I understand how to analyze houses. However, I have 3 FSBOs in the Baltimore Maryland Suburbs who want to sell their old house/land. One is a possible tear down. one was torn down due to a fire, and the last house was built 1900 and is currently being rented. Together they have over 50 acres of land combined between the 3 FSBOs.
I want to help them rid of their property but I don't have the $1,000 to pay an environmental engineer to give me a report on each property to forward to a new developer. I have determined the zoning & about how many subdivisions can be created on each property. How do I go about calculating a fair offer so I can wholesale them, or even just bird dog to a new construction developer?
I'd appreciate any suggestions
Hi @Natasha M. . Interesting find! I'm not a developer and have only flown into BWI once, so take my advice for what you paid for it. Ha
I would see what the seller's bottom line is and check that against assessed value to just get an idea. Get an option (maybe for 90 days) to buy each property for seller's bottom line and see if you can assign. Shouldn't cost much. If it doesn't work, you're only out your option consideration. Keep that small and at least learn valuable lessons for cheap. Good luck!
Hiya @Steve Vaughan !
hahaha... that's sound advice at a great price lol. Seriously, thanks so much, I didn't think of that & I can totally do that for now, but I'm hoping to learn what else I can do because I'm expecting to run into this a lot here in MD. So far I do find the different details of each property interesting. Who knows,... it may become my niche.
Hi @Natasha Marano I find interest in these from a buyers standpoint. I am a newbie as well and when you calculate these I may be interested.
Thanks Sorry I couldn't be much help
Hi neighbor, I just want to be clear. You're interested in my calculation? or are you interested in purchasing a property/land? or both?
And btw, what's that green little bubble mean that's on the lower left side of your picture?
Apparently the green bubble means you are online. Hover over it and you will see.
Land is complex but those that learn how to navigate it can do very well as there is much less competition due to the knowledge needed.
Ned Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/
Thanks Ned, besides adding environmental engineering to my resume... do you have any suggestions on how I can learn more about land? I seem to have a lot of leads for land.
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