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  • #1132
    Hobart King
    Participant
    Post count: 12

    Alright guys question time.

    A guy contacted me from a craigslist ad I put out there wanting to sell two in-fill lots that are a little less than half an acre each and sit right next to each other in Allen County in Lima, OH. Houses on either side and near a lake. I just responded to him offer him $1k for both of them and am waiting on him to get back to me. He will probably say no dice, BUT here’s one thing that I am having trouble with. There are almost no listings for land available for sale in Allen County on LandWatch and LandAndFarm so I have no idea what the going rate for properties like this would be. Is it even worth fooling with these properties since they are so small?

    -Hobie

Viewing 4 replies - 1 through 4 (of 4 total)
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  • Hobart King
    Participant
    Post count: 12

    Just looked on Zillow and Trulia. There are a few half acre lots listed between 15k-30k

    Hobart King
    Participant
    Post count: 12

    He just responded that he was looking to get 3.5k for both. Since I’m not even sure that I could make money on this with 1k. Like Steve said, if you do a deal it should have you running to the bank! I’m going to pass on this one.

    -Hobie

    • This reply was modified 51 years ago by .
    Chris
    Participant
    Post count: 252

    Interesting, did you look to see what the going rate per acre is, for larger parcels also? Any sales listed on zillow? I’m just curious to know if 3.5k is actually a good deal or not? It might be…

    James Skinner
    Participant
    Post count: 14

    Sounds like you made a good call, Hobart. If you don’t love the deal, don’t do it.

    However, if you aren’t comfortable just walking away, then get the guy to option the property to you for $3500. He signs the contract, and then you start trying to sell the property for 10k. If you can’t sell it, you are not out anything, and if you can, he gets his $3500 and you get the rest.

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