Determining Land Value

[Ryan Burnham]

I am brand new to any and everything real estate related (like I just came across some podcasts this week and am looking into this to make some extra money). I'm looking to flip tax delinquent land. I am finding some good lists and have been able to locate some of the properties. I would like to send out some mailings in the next week or so. Before I do this, I want to have a general idea to know what the value of the property is. I plan to offer between 20-33% of the property value (tell me differently if this is a terrible idea). Right now I am trying to find what similar land in the area is listed for. Some of the properties I have found are smaller acreage lots on the outskirts of small towns, I have found this hard to find good properties to compare it to. Most of the other properties for sale in these areas are large tracts of acreage for hunting, or are houses in these small communities. Some of these areas are summer lake destinations for people as well. Any advice as to what I can do to best determine the value of properties is greatly appreciated!! Thank you!