LandInvestors.com Forums +Success Stories+ Breakthrough Day

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  • #2187

    NY Steve
    Participant
    Post count: 34

    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.

Viewing 9 replies - 1 through 9 (of 9 total)
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  • Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Sounds like you are about to be a great land owner. Then a seller! Repeat, Repeat, Repeat.

    Congrats!

    NY Steve
    Participant
    Post count: 34
    Pro

    On a roll. Just received another accepted offer this morning via fax – a 6 acre lot for $500 in the same subdivision.

    Mike O’Meara
    Participant
    Post count: 18
    Pro

    Love it! Congrats!!!

    Jill DeWit
    Participant
    Post count: 439
    ProAdvancedStaffPrincipal

    Congratulations, Steve! It looks like it’s all coming together for you!

    Chris C
    Participant
    Post count: 50

    nice! glad to hear you pushed through all the negative responses and persevered.

    Ben H
    Participant
    Post count: 77
    Pro

    NY Steve,

    Congrats! Glad to see the perseverance pay off! I’m working on a similar approach in a Texas subdivision following what sounds like a similar 1st mailer (my offers were probably too low in a county where it has also proven to be extremely difficult to get docs.). I’m still hopeful to get a deal or two from the 1st mailer but learned a ton and excited about my next one.

    NY Steve
    Participant
    Post count: 34
    Pro

    The mailing mentioned above continues to bring in new opportunities. I have four cash purchases either completed or in progress (2 at $500, 1 at $800, 1 at $1000). Those should be wrapped up by next week. I also have four options that have been verbally agreed to that require some paper follow-up (1 at $1200, 1 at $2000, 2 at $2500). About half of my responses were ‘no thank you, it’s too low’ types, along with a handful of pretty funny responses from people who felt the need to vent. Total responses from the 595 piece mailer would be ~ 22-25, I’d estimate. I need to go back and get a more accurate count. I’ll be working on a CRM next weekend, so I should have a better grasp on the actual numbers by then.

    One thing I’ve noticed is that it’s naturally becoming easier to negotiate once the experiential belief is there that you can acquire these lots at a big discount. It helps when you can tell the seller that you’ve already bought some property at the price you’re seeking. At this point, I’m not sure I would take on any more options at the higher end of my range. Those were some of my earlier deals. Now, I need to hit it hard on the selling side, because my acquisition budget is nearly tapped. Good problem to have.

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Way to go. Now close them and flip them and do it again times 2!

    Aaron
    Participant
    Post count: 96
    Pro

    Good work NY Steve

Viewing 9 replies - 1 through 9 (of 9 total)

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