calculate Land offer

[Natasha M.]

I'm really new. I haven't done a wholesale deal before but I understand how to analyze houses. However, I have 3 FSBOs in the Baltimore Maryland Suburbs who want to sell their old house/land. One is a possible tear down. one was torn down due to a fire, and the last house was built 1900 and is currently being rented. Together they have over 50 acres of land combined between the 3 FSBOs. 

I want to help them rid of their property but I don't have the $1,000 to pay an environmental engineer to give me a report on each property to forward to a new developer.  I have determined the zoning & about how many subdivisions can be created on each property. How do I go about calculating a fair offer so I can wholesale them, or even just bird dog to a new construction developer?

I'd appreciate any suggestions

[Steve Vaughan]

Hi @Natasha M..  Interesting find!  I'm not a developer and have only flown into BWI once, so take my advice for what you paid for it. Ha

I would see what the seller's bottom line is and check that against assessed value to just get an idea.  Get an option (maybe for 90 days) to buy each property for seller's bottom line and see if you can assign. Shouldn't cost much. If it doesn't work, you're only out your option consideration.  Keep that small and at least learn valuable lessons for cheap.  Good luck!