Hello Land Academy friends. Looks like today was my breakthrough day. After a number of near-misses, I finally sent out my first deed for signing after work ($800 for a 5-acre parcel in NM). Only a few hours later, I was rewarded with an email stating that another recipient wanted to accept my offer at $500 for a very similar parcel of the same size. Works for me.
My initial mailing was a random assortment of mid-to-high-assessment properties (16k-20k) at $500 per offer, and that yielded mostly negative responses. That was a tough pill to swallow at first, but I pushed through. One thing I started to noticed is that some of the subdivisions in the area were largely of 5, 10 and 20 acre parcels. I decided to select one subdivision and do a very targeted mailing there with distinct price tiers, based on the $100/acre suggested amount. Total mailings to that subdivision have been 595. I have one verbally accepted option at $2000, along with the two deals I mentioned previously. So, I’m hovering around the 0.5% mark, should that option prove fruitful.
I did get one acceptance at $500 with my first mailing, but it was a minor snafu with the probate. I may still be able to revive it if I can get an affidavit or mini-probate done, but that’s on the back-burner for now. I’ve also done a good bit of pre-tax-auction mailings for houses and land. I have a few land options in the works there, but I’m less optimistic about whether or not those will ultimately yield any profits. They are pretty far under water with the taxes, though the assessments are higher. From that batch, I’m working on a buying one piece of land in a growing commercial area and a house to wholesale.
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