Vacant Lot Wholesale deal...potentially
Hello everyone. I got a call today from a man who owns a vacant lot in small mountain town just minutes outside of Las Vegas who is several thousand dollars delinquent on his RE taxes. Surveys have been completed but needs to sell to pay off other unexpected bills. He says all that is needed is the permits to start building (unverified but will research). The closest and most similar lot sold 2 years ago for 120k. Both lots are within .05 acres of one another in size. A house in the area on a lot about .05 acres bigger sold for 720k in 2014 and online low end valuation is about 800k. I'm not sure how many of my buyers would go for vacant lots so I figure it has to be a smoking deal to wholesale. What should my all cash offer be? He knows my intention to resell asap by the way.
Thanks,