LandInvestors.com Forums **Ask A Question** Pricing Question

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    Angela
    Participant
    Post count: 16

    I am looking at a mailer in Arizona. Still in the practice phase of buying cheap desert land. Trying to go into more detail about pricing lands that look like they have more potential (near attractive features). So how would I go about evaluating a price of land that is near other houses? What about near a mobile home lot no trailer on it? I know a person would probably get more for this land. Closer to all the utilities? Also if I go up in elevation people would pay more? Closer to a main road or an interesting tourist attraction for instance close to national forest? Do I look for similar properties on land watch and use our basic formula to decide what to offer? I am afraid if I just blast set number will get nothing because my new area I am sending mail to looks to be a bit more diverse. Thanks for any ideas in advance. Angela

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  • Kevin Farrell
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    Post count: 1645
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    Angela – All good questions. I can give you my opinion and you can add that to about a dozen other opinions that people may give you on this forum. We all do this differently. In mostly desert property I would choose an average offer price per acre and then blast the mail out to them. The sellers don’t necessarily recognize the little things that drive the value up. After you buy it, you can look at the things that might support a higher selling price and advertise it accordingly. For example: I offered $200 per acre in a NM county. I got very good response and some intense dislike as well. I bought many properties from that mailer. I had a 3 acre for sale for $3500 and a 1 acre for sale for $7500. Why? Because I saw gas meters in front of some mobile homes where the 1 acre parcel was. They have gas and water and electric. that is a huge money saver for the buyer who wants to put a mobile on there. I didn’t make that determination until after I bought it. And I assure you that the seller had no knowledge of that situation when he sold it to me.

    In your first mailer you want very straight forward, quick deals to get some experience doing the transactions. Getting really focused on neighborhoods with pricing is something that you can do later after you know the ropes. Follow the training from Land Academy exactly and you will do fine. Finding the county is the hard part. Good luck.

    Kevin Farrell - Moderator
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    John Pitkin
    Participant
    Post count: 59
    Pro

    In my experience, proximity to utilities will help sell a property faster. I don’t know why elevation would make a difference.

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