I offered $300 an acre in Elko County, NV (northeast corner of the state). I was fortunate to open my mail today from a seller who is willing to sell me two properties quite close to each other (1.3 and 2.7 acres in the same subdivision) for $2200. They are 5 miles from Elko proper where there is a Walmart, Home Depot, etc. Both have access, but not much else.
Comps seem to be about $1000 to $1500 an acre for properties that are further from town than these. It brings my acquisition price up to $500 an acre, and really burns most of my seed money. I’m a little concerned about sitting on the properties for too long too since stuff in this part of the country seems to sit for a while. However, taking down two properties in one quick deal may be worth it.
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