LandInvestors.com Forums **Ask A Question** Should I buy this property? – landlocked in Lake county OR

Viewing 9 posts - 1 through 9 (of 9 total)
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  • Jeff
    Participant
    Post count: 15

    Hi all,

    I just checked my PO box and, voila, a signed purchase agreement appeared from a seller in Lake County, Oregon. First of all, I just have to say, regardless of whether I go through with the purchase or not, having a signed purchase agreement show up in the mail is such an awesome feeling. Never thought I’d see the day!

    The property is 5 acres, just outside of Christmas Valley, OR. My offer was for $1k. The most similar comps on LandPin have sold for $2,500-$3k and there is one comp on landwatch for $2,500 (I believe from a fellow LA member) and then the landwatch comps jump to about $5k.

    My instinct was to snatch this up and try to double or triple my money, however, upon further diligence, the parce seems to not have any road access. Most of the comps seem to have some sort of dirt road access, but the nearest road to this property is several acres away.

    Would anybody recommend buying this property regardless of access, or is road access a dealbreaker? What would be the considerations here for whether the property is still viable?

    I’ve just come to an agreement on my first purchase last week (3 separate parcels, total of 11 acres for 2k in Mohave), and seem to finally have the ball rolling in the right direction on this land business! I’m eager to snatch up more properties, but I’m not sure if I’m just looking for an excuse to make another deal on a property I should really stay away from.

    Any and all advice much appreciated.

    Thanks all,
    Jeff

    Kevin Farrell
    Moderator
    Post count: 900

    Jeff – there are people who will say “Buy it and sell it. Don’t worry about it.” Others may say “Don’t buy it unless you have access.” I say, “It depends.” What is it near? What are the attributes? Do you think a buyer of this property would be concerned about access issues?

    I tend to worry about access issues. Others don’t. You will have to decide. If you buy, just let people know about the access situation in your ads. Should work out just fine. Put a low price on it and sell it.

    Jeff
    Participant
    Post count: 15

    Thanks for the feedback, Kevin. Given that I’m eager to get some deals under my belt, I’m leaning more toward buying. There aren’t really any attributes that make it stand out. It’s just dirt like anything else in the area. But the other dirt in the area goes for 2.5-3x what I’d be paying for this, so I think it’s just a question of whether I can still sell given that there’s no access.

    Kevin Farrell
    Moderator
    Post count: 900

    Jeff – You can sell it. There is a buyer out there that wants his land exactly like that.

    S. Jack Butala
    Participant
    Post count: 99

    @jeffs
    @rotortech

    Great question. We are answering this question on the podcast which will air on Monday, December 26, 2017

    Jeff
    Participant
    Post count: 15

    Awesome! Thanks, Jack. Looking forward to hearing the episode.

    Jeff
    Participant
    Post count: 15

    Jack and Jill – Thanks so much for answering my question on the podcast. Really appreciate the in depth advice!

    Aaron English
    Participant
    Post count: 27

    Buy it. I cut my teeth in lake county, OR. Right now you just want the experience. Lake county is a great place to start. The county is easy to work with and you can e-record your deeds with GoEPN which is a huge time saver. I bought my very first property here and did just about everything wrong. It was a 40 with no road access about 2 miles South of Christmas Valley. I went down there and just drove around all the sage brush and made a video while I was making my own road. I also did a video of the land, get some early sunrise shots coming over the protective ridges here, that will sell the property. I sold that 40 in 32 days on terms for an insane profit. Some people don’t want road access and don’t want to be found. These always sell if you market it right and the price is low. You have the Famous Christmas Valley Sand Dunes and fossil lake to the East. Market it to Quad riders off roaders and fossil hunters in Bend, OR.

    Jeff
    Participant
    Post count: 15

    Awesome, thanks for the advice, Aaron. I think I’m going to buy it.

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