LandInvestors.com Forums **Ask A Question** What to offer in a mailer

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  • #2354

    Michel
    Participant
    Post count: 199

    Hello everyone,
    I know Steve talks in the program about offering $100 per acre so on his mailers on a five-acre properties offering $500. I live in South Florida I’m targeting the west coast and they are parcels and residential neighborhoods that are typically assessed around 2 to $3,000. I’m trying to figure out a price to offer in the mailers they are parcels in residential neighborhoods that are typically assess around 2 to $3,000. I’m trying to figure out a price to offer in the Millers and not offend anybody.

Viewing 8 replies - 1 through 8 (of 8 total)
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  • Aaron
    Participant
    Post count: 96
    Pro

    Hey Michael,

    You need to find comps that are listed for sale or have recently closed. This will help you establish price. Remember “you make money when you buy” so you have to be sure to buy below market value otherwise you risk losing your profit margin. Some people will be offended by your offers and that is just part of it…If every single person you mailed to happily sent your offer back signed then you probably paid too much.

    Also assessed value does not always equal market value. If you are using assessed value to establish your offer price then you need to compare market value vs assessed value.

    Michel
    Participant
    Post count: 199
    Pro

    @aaron,

    All the properties in Lee county are 0.25 acre residential lots and market value(sold on Landwatch etc…)is around 4-5K. I have bought about 6 parcels through Tax deeds there but since your paying back taxes it’s not a good measure.

    Justin
    Participant
    Post count: 25

    @michel

    I will also be hitting up SW FL. (probably charlotte county- as i was born and raised there and know the area very well) I was asking myself the same question as well. Seeing most of these lots are selling for 2.5k-5k. I believe a starting offer of 1k would be a good place to start. I am going to send a low volume mailer out to test, and then adjust from there.

    There are quite a few undeveloped subdivisions in the area, and i’m guessing people would LOVE to get ride of their small lot they overpaid for years ago.

    If you send out a mailer, let me know! I will follow up as well.

    Justin

    Mike O’Meara
    Participant
    Post count: 18
    Pro

    How about closings in Florida? Does anybody know what requirements and costs to do a closing in Florida?

    Michel
    Participant
    Post count: 199
    Pro

    @mike,

    I have bought and sold 5 parcels in SW Florida last month. On the deed the State of Florida requires that it is notarized with two witnesses.

    Justin
    Participant
    Post count: 25

    @michel
    Lee county? what are you deals looking like? Direct marketing or tax deeds?

    Michel
    Participant
    Post count: 199
    Pro

    @Justin,

    I was doing tax deeds. The average 0.25 lot is going for 2-3k even though the back taxes are only 800.00. The bidders go crazy on the online auction. I haven’t had problems selling them on eBay, but the Tax deed doesn’t give you a clear title. That’s the only drawback.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    Those sound like fun deals. Go Michel. Now you know how to sell them. Run a mailer for less and see what you get. Maybe someone tries to sell you 20 of them for like $200 each.

Viewing 8 replies - 1 through 8 (of 8 total)

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