Deal 2- 10 Acres Northern Arizona
I received a call from this seller a my second week of marketing for vacant land. The owner wanted $600.00 for 10 acres just off the highway in Northern Arizona. There were also $300 in liens on the property. I was still new to this game but land for less than $100 an acre what can go wrong?
Well nothing went wrong. I had to create the deed. We had to remove his wife who had passed on but the county told me what to do and that process was really easy.
I grabbed some pictures that were near my parcel and I began my marketing. I wanted to sell this piece on terms. I ended up getting $99.00 down and $125.00 for 60 months. Is this deal going to make me rich? No, but there is a lot of power in the compounding of these small notes. The land is easy to sell and most people can afford the small payments.
I have now covered my first two deals. In the last 6 months I bought 23 parcels and sold 11 of those. I also already have 7 deals that will close in January. I will share details of my first 10 deals. Hopefully you will get something out of it.
Comments (3)
Great post Christ, keep them coming!
Account Closed, almost 10 years ago
Chris I am very familiar with the land contract. One of my goals for 2016 is to end the year with 10,000 a month in note income. I am at about 2500 right now!
Mike
Mike T., almost 10 years ago
Mike,
I have been getting interested in land investing also. I have read a little on Dodd / Frank regulations but not enough. Do you know how they apply on a land contract for deed? I have started out small with some direct marketing to specific areas and types of owners that are within a few hours from where I live. Hoping to find some discounted deals and get my feet wet before venturing across the country. You have a new follower to the blog! Keep the motivation coming! Chris
Chris Knutson, almost 10 years ago