Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 9 days ago, 12/14/2024

User Stats

5
Posts
3
Votes
Deja Clark
  • New to Real Estate
  • Tampa, FL
3
Votes |
5
Posts

How to Structure Land Deals? Newbie Needs Wisdom!

Deja Clark
  • New to Real Estate
  • Tampa, FL
Posted

Hey All,

I have zero experience in real estate. My aspirations include becoming a real estate developer, so I want to learn as much as I can. I heard the deal starts with the land purchase!

How would you structure this deal to make it work for a single family home build?

I entered negotiations with a wholesaler for a vacant lot. The price started at 120k and I counter-offered 90k to which the seller was going to accept. However, they wanted fast close at 10 days when I need 30-40 days to complete the survey. I then lowered the offer price to 70k since I wouldn’t be able to complete the due diligence piece. The seller’s most recent counter-offer was 90k for 30-40 day closing with a 10k non-refundable earnest money deposit.

Location: Tampa, FL

Zoned: RS-50

Lot size: 6,969 sq ft

New construction homes in the area are selling for at least 350k.

*** Also, this deal has lots of red flags including the immediate 30k price drop, the 10-day fast close & the non-refundable 10k EMD. For kicks and giggles, I would still like to know how you guys would make this deal work for you. All insight is appreciated :)

Loading replies...