LandInvestors.com Forums **Ask A Question** Picking first county

Tagged: 

  • Creator
    Topic
  • #24572
    Brandon Wong
    Participant
    Post count: 18

    Hey all,
    Just started and I think I’ve found my county. But I am a little worried. So here is the reason why I picked the county ad why I’m worried
    Pros:
    Low days on market
    Seems to be no wholesalers or good wholesalers.(bad or no website)
    Near a growing town/city

    Cons:
    No wholesalers
    Extremely low tax deed sales
    Retail price is huge difference from those few bad wholesalers.

    I mean it seems like I found a good county but the low days on market and no other wholesalers, makes me think that people have mailed this county and had no success. Also could it just mean that I have to offer a slightly higher price, I would still yield a good net profit. Just nervous about my first mailer, anything helps.

    Thank you

Viewing 6 replies - 1 through 6 (of 6 total)
  • Author
    Replies
  • Laurie Phillips
    Participant
    Post count: 127
    Pro

    Hi Brandon, and welcome. It’s great that you’re testing all these data points on your target counties. However, if there was a county without cons, everyone would be mailing the same place. What’s important is to find out the reasons behind the pros and cons, and they’re rarely apparent without digging into the details. For instance, all the cons you list – no wholesalers, extremely low tax deed sales, high retail asking price – can point to an affluent county where the offer prices need to be high to get any deals, and as a result, no one has mailed there recently. I would LOVE to mail that county. Or the county could be mostly government-owned land, leaving few properties to buy, sell or tax, which explains the low tax deed sales and few wholesalers. The area could be water-starved, so 10 acres with water rights will be priced at a huge premium over 10 acres of dirt, causing the wide price range. There are many reasons, and if you do some research, they will become apparent. I often call a realtor in the area as a “prospective buyer in the county” and get their input on supply, demand, and pricing trends. Then you roll all that information up and … go for it.

    Good luck!
    Laurie

    Kevin Farrell
    Moderator
    Post count: 1729
    ProAdvanced

    Brandon – this sounds like a good county to me. Send the mail.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 30 minute call - https://calendly.com/kevin-629

    cupid-gave-up-on-me
    Participant
    Post count: 11

    So how did it go?? Can we get an update? 🙂

    Brandon Wong
    Participant
    Post count: 18
    Pro

    Not bad, closed on 2 properties and just listed them, hopefully they sell quickly. Another one ended up not actually being in his name, he needs to do a quiet title. This one sucks because it was on a river that is known for fly fishing. He has gone dark, so I’m assuming he is just going to keep it now because he doesn’t want deal with it. Second mailer to county hit this week and only hate calls, and a lady that has a mobile home on it(bad data scrubbing) but owes 12k on, Im guessing, private loan company that they are trying to foreclose on. I asked her call the company and ask if they would accept anything less, maybe it’ll work and I will get the property for 5k and sell it for 15k which is half the market there.

    Herbert Graham
    Participant
    Post count: 42
    Pro

    Nice, keep us posted Brandon. I am interested in hearing about your success. Best of luck!

    Coet Land
    Herbert@coetland.com

    Kevin Farrell
    Moderator
    Post count: 1729
    ProAdvanced

    Brandon – it sounds like you got a reasonable response from your mailer to that county. It doesn’t stop there. Calls will trickle in as the weeks pass. I would not be surprised to hear that you get 2 or 3 more deals out of this. That is how this works. Good job.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 30 minute call - https://calendly.com/kevin-629

Viewing 6 replies - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.