5 VACANT ACRES FOR WHOLESALE NEAR SUMAS, WA

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5 VACANT ACRES FOR WHOLESALE NEAR SUMAS, WA

Jeff Hodgin
Investor · Bellingham, WA · Member since 2020 · 17 posts · 3 votes

Investment Info:

Other wholesale investment in Sumas.

5 vacant acres. Zoned Rural Residential. 4 acres of marketable hemlock timber. ESTIMATED BOARD FOOTAGE 40,000 BOARD FEET. Power in Street. Perc test has been ordered.

What made you interested in investing in this type of deal?

Farmed area for vacant buildable land to wholesale. It helped that it had marketable timber that it was located on a main blacktop rural road. ln an area I had recently sold a property in.

How did you find this deal and how did you negotiate it?

County records then cold called the owner.

How did you finance this deal?

In escrow as an "and or assigns."

How did you add value to the deal?

Ordered perc. Getting bids on well costs. Driveway has been bid.

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  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    Thanks for sharing @Jeff Hodgin ! 

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Ok so what are you going to do with it..  40k of Hemlock after logging cost might be 5k to 8k or so and you have a clear cut parcel/ stump farm.. trees might bring more value if left if its for a home site. Unlike Lumber delivered log prices are very very low right now..
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  • Jeff Hodgin
    OP
    Investor · Bellingham, WA · Member since 2020 · 17 posts · 3 votes
    5y

    Jay, 

    Thanks for asking but a stump farm is a looser.  I like to hollow out the middle and sell logs on the specialty market. This can be as extensive as you like.  My partner and I recently sold roots and all for a "natural playground". Another option is selling to landscapers.  Several other options as well.  The fir or cedar can go for salmon enhancement root balls.  Thats just the beginning.  Frankly if you can get it low enough in my area I have a list of buyers who are "back to the land hobby farmers". They don't care about stumps.  They expect to put sweat equity in.  Hope that helps.  Jeff

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  • Scott Morris
    Investor · Tampa, FL · Member since 2015 · 184 posts · 83 votes
    5y

    Is this a completed deal or are you trying to wholesale/assign this contract?

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  • Jeff Hodgin
    OP
    Investor · Bellingham, WA · Member since 2020 · 17 posts · 3 votes
    5y

    Scott this is now a completed deal.  Went well.  We ended up doing a thinning and selling it with a driveway.  Water we purchased by buying the parcel next to it and doing a shared well agreement.  Both sold.  

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