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.
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