LandInvestors.com Forums +Success Stories+ Is this beginners luck or should I get used to this?

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  • #13681

    Jason Cochard
    Member
    Post count: 53

    First acquisition since signing up for Silver membership looks like it is going to be 120 acres @ $250/acre ($30k) in an area where low end comps for similar acreage are $880/acre ($105k+), and the parcel could very easily be subdivided into 3x 40 acres, with low end comps for 40s at $1k/acre.

    The seller is an 87 year old man who must be on some amazing probiotics because he still gets physical every year mining gold on his claims a few states away. He told me if this deal goes well that he’ll sell me an additional 320 acres he owns in an even more desirable area.

    The parcel straddles the flat upper area and lush lower wetlands of a mildly sloped butte-style hill (about 200ft elevation difference), and has access on both the lower and upper approaches. Nearby neighbors have some homesteads in the area so I can easily point to them as examples of people making it work. And it’s going to look sublime after I fly my cinema drone across it at sunrise.

    With TitleMind, if I do a double close, which I plan to do once I find a buyer, that’ll mean I risked a total of 64 cents and will pocket more than I make per year at my former job. That kind of ROI is bonkers.

    Do I need to pick my jaw up off the floor and get used to this, or is this beginner’s luck? I have an inexpressible level of gratitude for Jack and Jill, I’m holding you responsible for all the smiling I’ve been doing today.

Viewing 4 replies - 1 through 4 (of 4 total)
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  • Robert Johnson
    Participant
    Post count: 18
    Pro

    Congrats Jason

    Amy B
    Participant
    Post count: 9
    Pro

    @carpeawesome

    Curious whatever happened with this deal? Hope it went well for you!!!

    Jason Cochard
    Member
    Post count: 53
    Pro

    I let the option expire and the seller sold it to “his brother in law” which is code for literally any male person with a different last name than the seller, aka someone who probably saw my ad, which I’ve now taken down.

    Congrats “brother in law” on the landlocked parcel 3 miles downwind from a disgusting coal plant, flanked on all sides by a rancher who has the means and motive (for way less than the brother-in-law’s markup) to sue for adverse possession and win. I discovered a loophole that the seller didn’t know about, plus the seller didn’t do the right steps following his tax deed acquisition.

    Glad I dodged that bullet! Defending a lawsuit when I’m already 30k deep doesn’t sound sexy.

    Milan
    Participant
    Post count: 518

    Jason, it seams like you have been having some bad luck lately. I am sorry to hear that. I hope you bounce back. Talk to us Jason. What else are you learning? Plus share some more thoughts about the whole land biz from your perspective so far. I know you are a great writer. I like when someone shares realistic stuff too. We can all learn a lot from that stuff. Those are gold. Thank you Jason!

Viewing 4 replies - 1 through 4 (of 4 total)

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