Hey all! I joined Land Academy November 19th, sent my first mailer November 27th, which was mailed December 4th. I was expecting to start receiving calls 2 weeks after that (Starting December 18th) but I guess mail only took 8 days to hit the mailboxes. I was caught off-guard (holding my 5 month old, not close to my computer) when I received my first call just 30 minutes ago…but because I have experience in the house business I was able to adjust to adjust and vet the seller.
Bad news is that it’s not a deal. It’s a business owner who has sold over 3k acres and is selling more.
Good news is that, based on what he sells them with owner financing ($65k per tract w/ $1,500 down and 10% for 30 years), I was at 33% of that. That was all on the initial contact. So I priced it right…or so I thought.
It turned out that my offer was for 6 acres NOT for the 20 acres he was mentioning. Which is why I was confused why he said 20 acres. So I noticed the APN does only show 6 acres. He said they can not sell less than 20 acre tracts due to no utilities or highway access. This is county ruling. As a side note, he is also looking to sell 600 acres for $1.2M, which if subdivided to 20 acre tracts would sell (retail for $1.9M.
Then I got another call with a man who was very respectful but said, “I got you offer. That can buy you the 1920’s tractor if you want that”. My offer was about $17k but he said he bought the property for $83k and would sell it for $250-275k if he did sell it because it now has a mobile home, well, and barn.
Two calls so far today. I guess marketing is hitting the mail earlier than expected. But excited to see what else I get the rest of the day.
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