Now . . . on the the really fun stuff . . . finding parcels that are what you are looking for in your investment portfolio . . .
There are all kinds of property available, some are on the market as active listings (see below), some are properties that were on the market, but the Owners
chose not to put them back into the local Multiple Listing Service. There are literally hundreds of parcels that could be picked up at the right price, but
they're not being given away. The Sellers know the market demand is rising and so are prices, and since they know the values in the area they are not just giving
them away. If you are looking to "steal" a property, good luck. In my 30 years in the business, I learned that when you "steal" you are considered
a thief. And that's not me. I learned a long time ago that the best deals are when both side of the transaction walk away from the closing table
saying, " I didn't get everything I wanted, but the deal was fair ".
Since it's nearly impossible to get financing on raw land parcels out here, there have been a number of inquiries from folks asking about Seller Financing. I
contacted a number of the Sellers, and added to the end of the line indicatingthat they have said they would be interested (Yes), would consider financing the
property themselves depending on the offer (Ask), and can't do it since there are others involved, an estate liquidation, etc., (No).
Here's the rule of thumb of what to expect in these cases . . . 20% down, 8.5% Interest Rate, 15 year term, 3-2-1 prepayment penalty in the first three years,
Seller pays account servicing set up fees, Buyer pays ongoing account servicing fees.
Remember . . . You're not going to get a Rolex at a Timex price ! !
OK, so that's an old analogy. What do you expect from an old guy?
There are quite a few other properties I am aware of that are for sale. Some of these are institutions that have foreclosed on properties and want to sell them
as Bulk Sales, i.e., more than six parcels at a time in one transaction. There are larger parcels - for example 80 acres that is priced at $160K - but most of these will
require serious Buyers not bottom fishers looking for a "steal". And most of these transactions will be cash transactions. If you are looking for this type of investment,
let me know and I'll turn over some rocks for you toward finding the right property.
Keep in touch, and send me your thoughts. If you need more information on any of these parcels,
send me an e-mail along with the MLS number for the property and I'll return the information you are looking for in an e-mail format from the local
Multipile Listing Service - or, if I have the information in my files, I will send it out directly