LandInvestors.com Forums **Ask A Question** Response to my "wanted" ad on craigslist

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  • #1831

    Kyler
    Participant
    Post count: 29

    I haven’t purchased the land academy package yet. Like some of you I purchased a similar package elsewhere and am debating where to go next. I read the free e-book and posted a few ads on craigslist with the template stating I am looking to buy unwanted rural acreage. I just got my first call on 20 acres from an out of state owner. He just wants to get his money back on the deal. He paid $2,500 an acre. I explained my business model and told him I cant buy at that price and turn around and wholesale. But I suggested an option contract to see if I could get anything over what he paid for his initial purchase. He agreed to sell it to me at his cost if I find a buyer.

    My question is how to handle this situation. I’m sure some of you have encountered this. He found me on craigslist and up until now that is the only venue I have used to market/sell land.

    How do I market and sell this land for more than $50,000 to make it a win/win for both of us. I would be happy to sell for $55,000 ($5,000 in my pocket) or more to make a profit.

    Any and all suggestions are welcome. Thanks for your time and I’m hoping this community is one I can continue to participate in and give back where I am able.

Viewing 3 replies - 1 through 3 (of 3 total)
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  • Aaron
    Participant
    Post count: 96
    Pro

    I would do some research and see what the property is even worth. Do you think it is worth over $50,000?

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    Sweet you got a reply! You got started. Now like Aaron says. Is it worth trying to sell for more?

    Is it locked up?

    Did you do a contract?

    I like the contracts over at uslegalforms.com cheap and easy. I keep buying so many there I am thinking their monthly subscription might be a good idea to try out.

    Try posting the land on Craigslist.org its is free and I herd they have the Internet’s 7th most searched website.

    Landwatch.com rocks but they charge so you might want to dive in and pay or just dip your toe in and stick to craigslist.org

    Jill DeWit
    Participant
    Post count: 439
    ProAdvancedStaffPrincipal

    Hi Kyler,

    Glad you are here. Not sure about your property’s details, but here is my strategy:

    1) research internet to find similar parcel and target the lowest priced “like kind” one
    2) plan to offer mine for sale at for LESS THAN HALF of the least expensive one currently out there
    3) buy from seller at half of THAT price so I KNOW I can easily double my money overnight if I want to

    Something like this:

    40 acres X county found on landwatch priced at $18,000
    I intend to advertise mine for $9,000
    Target purchase price: $4,500

    And if I don’t have the cash on hand, I might set up an “options” agreement.

    I do these deals all the time.

    Hope that helps!

    Jill

Viewing 3 replies - 1 through 3 (of 3 total)

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