All Forum Posts by: Ryan Pettitt

@Randy Cheval, I would recommend utilizing a Land Sale Contract, Real Estate Contract and Promissory Note if you are selling on terms.  I have also utilized Meridian Title Company in the past and they are an excellent resource (it's inexpensive to use a title company, but some states require an attorney to finalize the transaction and record the deed).  

Hey @Chad DuncanWe don't have any properties under contract currently, but send me a private message with your contact information and I can add you to our buyer's list.  Best of luck in finding the perfect deal!

Hey @J. MartinI may have some vacant land available soon in Sonoma County. I'm currently working on contracts for a few parcels. Send me a private message if you're interested. I can also add you to my buyer's list if you send me your email. 

You can research the assessed value of the property through the county. However, this is just a point of reference. To determine the market resale value, utilize Craigslist, Land Watch, Land and Farm, EBay, Zillow, and/or any other other online resource to collect comps for vacant properties of similar size in nearby areas. The best comparisons will be within the same zip code with properties that have similar zoning. It's not an exact science and there is not a lot of data out there, but at least you will obtain a point of reference.

Hey @Justin Nero! Are you planning to buy and hold or flip this property? 

@George Torres An option agreement is a contract between you and the current owners of the property for a duration of time (typically 90 days).  The intention is that you will purchase the property if you're able to find an end buyer.  Basically you're wholesaling the property.  During that 90 day period, you are marketing and searching for an end buyer.  The deed remains in the hands of the current owner, and everything is transitioned at closing either to you (if the end buyer purchases on terms) or to the end buyer (if buying on cash).  

@George Torres Hey George! The Land Geek is an excellent resource.  There is a Podcast called The Best Passive Income Model that can give you some more insight, tools and resources. 

Once you receive a list of delinquent taxes, filter to remove parcels with structures and conduct some quick market research on the cost per acre in that area.  Send out offer letters at a fraction of the resale value (typically 25%), and start your due diligence once you receive a returned offer letter.  Mark Podolsky (The Land Geek) offers a Toolkit that can be an excellent resource to get started.  

Craigslist is an excellent (and free) resource to resell the property.  Make sure you post new content frequently.  

For financing you can leverage option agreements with the current owners to test the market and find an end buyer.  

Some quick tips and tricks to help you on your journey! 

Intelius may also help you find the owner. There is a subscription fee for the site. 

If it's Moore County, NC I have the contact information for the person that would be able to provide an update on the foreclosure process for the property. Let me know and I'll pass it along. Thought it might help!