Land in Colorado

[Jacob Wohlgemuth]

Hey everyone!

I have a friend who has 4.5 acres in san luis, colorado. He's willing to let me do whatever I want with the land as long as he gets a percent of the profits. I was just reaching out to see if any of you have any ideas on how I could make some capital using his land. I know its not a very good market down there and thats why I wanted some of your opinions on this. 

Thanks!

[Bill S.]

@Jacob Wohlgemuth well 4.5 acres could be a couple million in the right location or it could be a couple grand. You need to do a market analysis on the property and see what similar parcels are selling for. Check the assessors web site for tax value as a start. After that you can compare that to the "value" that your friend wants to start your split at. If you just want to move the property, find a couple of similar listings and see who has them listed. Call that agent up and ask them, so I want to sell a property like those you have listed in 30 days what price could I accomplish that at. The agent will likely be a bit reluctant but point out to him that selling it will actually help the agent get the other properties to reduce their price or expectations and perhaps generate additional sales. At any rate, once you have the price move the property. Tell him, he can have the whole commission if he finds a buyer otherwise you will sell it yourself via Craig's List. I see property all the time on Craig's List for that area. They are dirt cheap ~$5k. Your greatest return would be to sell it fast and move on. Trying to figure out how to make money on that barren land down there has been going on for ages and those that tried have died or gone broke. Get in, get out and move on.