Land wholesaling

8 Replies

I got a request to help a guy sell some of his lots. Any issues with wholesaling land?

He had 6 lots together and wants to sell quick.

@Rusty Glines  I think most times with land ones buys heavily discounted and then resells, but wholesaling is possible. Depending where they are I might have contacts. Let me know if I can help in anyway. Some lots are now really hard to build on and make money, as values around them dropped during the downturn and one has to get an appraisal for a sale. I just had to pass on a similar deal, because even at 4-6k a lot there was no money left. At the same time we bought 30 lots last year so it all depends on the numbers.  

@Jeremy Tillotson  Thanks man.  He had 6 total lots..  5 at 42w x 125d and 1 at 44w x 125d.  These are located in Lima, OH.  They are all together and I have google mapped them and seem to be in a decent area. 

If I were you I would be looking for/talking to developers. Trying to sell them to a builder. 

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

@Rusty Glines   I agree with @Ryan Dossey   on this one. Look at the land and think, "What would go perfectly here? Is this possibly something for commercial development or strictly residential?" That should lead you to where you should be marketing to. Good luck bro 

Lima is more of a smaller town. You may not have builders doing new construction but I'm not super familiar with it. Just know what my wife who grew up there has told me. 

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

I wholesaled a vacant lot this past December in Florida. It was by far my easiest and quickest deal to complete. It only took a couple of weeks for the entire deal to close.

There was once a mobile home there at one point. It was about 1 acre and was already cleared with a driveway. Also had utilities available. 

I put "perfect for a mobile home" in my ads. 

Long story short is to try to find the best use for the property and market for those type of buyers....Hope this helps..Good luck! 

@Rusty Glines ,

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