Forums **Ask A Question** Seller has 150 properties to sell

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  • #27175
    Thomas Robbins
    Post count: 34

    As if I wasn’t already busy with my very first purchase at the title company and a few more in line behind that. This guy has the nerve to call me and offer to sell his 150 properties throughout two states. Gulp! Being the former embittered government employee that I am, I said give me a week to research some things and wrap some red tape around it. Which was a stall tactic of course. To my question, While I have some time to figure this out. I’m being referred to some other experienced land investors in a local mastermind group. I have no confidence at this time to handle a deal of this magnitude with no previous business experience by myself. Besides the normal due diligence research, for a deal this size, what else should I look into before I meet with the others to formulate a plan? I brand new at this, so even the most obvious suggestions will not be offensive.

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  • Kevin Farrell
    Post count: 2093

    Thomas – You should partner with someone with the experience to handle this. You will need to look at each property and that will take time. See if the seller wants all one lump sum purchase or does he want to sell in chunks. Find out how much the seller wants in total and see if that makes sense as a wholesale purchase. Take a quick look at the properties to see if they are all Rural, some rural and some urban, or even some commercial. Send this deal to Steve and Jill when you get a list of all of them. This is a great opportunity for you. Don’t think you can’t do this deal just because you are still new.

    The only deal breaker may be if the seller wants full value for all of the land. Since he is talking to you, he probably will sell at our price. Good luck.

    Kevin Farrell - Moderator
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    Anthony Taft
    Post count: 43

    Wow! Congratulations, depending on the price, this could set you up for a long time.

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