LandInvestors.com Forums **Ask A Question** Question regarding marketing a large $$$ deal

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    Brad
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    Post count: 4

    Currently closing $138K on a 10-acre irrigated crop that features a $50K built-in sprinkler system already in place (can be removed easily if buyer desires). Land was used as a blueberry crop up until a few years ago. Reason for the large $$$ figure, is this area I’m in is absolutely exploding in terms of growth.

    I know I’m getting a deal, as I’ve measured this property against the “quarter price of comps method” that Jill has explained. Comps range from $400K to upwards of $700K, and most of those lower comps are heavily wooded lands. (1/2 mile away, a 12-acre forested parcel is currently on the market for $530K.

    Last year, literally right across the street from this property, five acres sold for $75K and current owner has it on the market for $180K.

    Question to you guys who are experienced with rural/larger acreage – The fact that it has the irrigation system in place, and the soil is perfect for farming — should I market this specifically to the farming community? ie…”Ten acre irrigated crop for sale”…”perfect for farmers!” “Perfect soil, already irrigated!”…etc.

    Or should I simply market it as a normal advertisement featuring a great piece of cleared, high n’ dry land? I think the irrigation system would be an added value to the right buyer, but certainly not everyone.

    I am new to this, so I would really value any of your thoughts or inputs.

    Brad

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  • Kevin Farrell
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    Post count: 1311
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    Brad – I don’t have direct experience with farm land but I think it usually has higher value than lands not ready to farm. You might need to be sure that you know the value of ready to use farm land in that area. Also, the comps with trees could be showing timber value as part of the advertised price – not just the land. Be sure you are comparing similar land for comp values.

    Sounds promising – good luck and let us know how this one turns out.

    Kevin

    Milan
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    Post count: 531

    Brad it doesn’t seem right to me. Youre talking about 400K comps and someone sold 5 acres for $75K and relisted it for $180K. Will it sell? Be careful, those highest comps are property owners that have property they are willing to keep, but for this ridiculous price I will let it go kind of sellers.

    Brad
    Participant
    Post count: 4

    Brad it doesn’t seem right to me. Youre talking about 400K comps and someone sold 5 acres for $75K and relisted it for $180K. Will it sell? Be careful, those highest comps are property owners that have property they are willing to keep, but for this ridiculous price I will let it go kind of sellers.

    Gents, I appreciate your repsonses.

    Kevin, the wooded property doesnt appear to have any type of significant timber value.

    Milan, I should clarify…the five acres that sold for 75K last year…was sold by the same farmer who is selling me this ten acres for 138. He lives on a parcel in the immediate area and simply trying to liquify his surrounding farmland parcels.

    Basically just an old farmer who’s owned all this land for 30 plus years. I did not include this in the comps because not only is it half my acreage size, but it’s from the same seller who quite honestly doesnt give a rat’s ass about selling it for what I believe it’s really worth.

    No marketing efforts were put forth on either of these lands whatsoever, aside from a crappy FB Marketplace post featuring a terrible photo and very little info. I believe I can market the crap out of this and while it may take awhile, confident that with some patience….can turn this into a huge score. Just need to focus on how to effectively market it.

    Milan
    Participant
    Post count: 531

    There you go Brad. I like your confidence and gut feel for this deal. Go for it! Give it a spanking good try!!!

    Steve C
    Participant
    Post count: 3
    Pro

    Update?

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