LandInvestors.com Forums **Ask A Question** Would You Buy?

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  • #24975
    Levi Gagnon
    Participant
    Post count: 10

    Hey Everyone,

    I just received my first signed purchase agreement today, so that’s awesome. I’m currently at my day job, so I’ll do my due diligence this evening, but I wanted to run it past anyone who has a second to see if I made a decent initial offer. I understand that it is heavily dependent on the exact area, regarding comps. Nonetheless, here’s the information I have so far:
    – APN: R287120
    – COUNTY: Klamath, Oregon
    – ACREAGE: 2.55
    – PURCHASE PRICE: $1,956.06
    – PROJECTED SALES PRICE: $6,300
    – CURRENT COMPS: $6,800-$12,000 (based on multiple websites)
    – ESCROW COST: Currently unknown
    – DAYS ON MARKET: ~100
    – AVAILABLE UTILITIES: Currently unknown

    I’ll do my best to answer any questions that anyone has until I get home and can do some research. Since this is my first rodeo, I’m just looking to get off to a good start. I followed the instructions outlined in the training, so that has helped a lot in making it this far!

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  • Levi Gagnon
    Participant
    Post count: 10
    Pro

    A couple more items:
    – OWNER: Ron Brack
    – REASON FOR SELLING: He bought it years ago and it hasn’t appreciated. Is this a red flag?
    – ADDITIONAL PROPERTIES: He has 2 more in the same county
    – TIMELINE TO SELL: ASAP
    – POAs: None that he knows of
    – TAXES: Up to date

    Kevin Farrell
    Moderator
    Post count: 1576
    ProAdvanced

    Levi – Congrats on getting this signed PA. I think the pricing is OK but this property has no visible access and no trees. Being close to the highway is a good attribute. At the sales price you suggested you will be competing with properties with trees and access. I would suggest that you look at his other two lots to see what he has. You might get a bundle deal.

    There are over 100 2 to 3 acre properties listed for sale in that county so you need to be a bit picky about the properties that you buy. You want your property to stand out in some way – trees and access will help a lot.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 30 minute call - https://calendly.com/kevin-629

    Levi Gagnon
    Participant
    Post count: 10
    Pro

    Kevin,
    Thank you for your feedback! Yes, I am seeing that now. I double-checked with the owner regarding potential access, just in case, and inquired about the two additional lots, so I will dig into that once I receive a response. Once again, I appreciate your help. I will be careful and pay attention to the 4A’s before pursuing anything.

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