Vacant land deals

[Jim Wineinger]

I have a potential great number of deals forthcomming because of Marc Faulkner and his post about buying 5-7 mobile homes per week for the next year.

Marc is unaware of the help that he gave me, so I felt the need to post this success story here even though it really is only a deal in the works at this point.

Looking for some used mobile homes for Marc I went to a local mobile home seller to inquire about any repos that they may have had to make since they finance the mobile homes to people using the land value as downpayment amount. While there may be some possibilities in this area (not many right now) the conversation led us into an area whereby they will sell my vacant land parcels that I pick up through the tax sales that I attend for me by perparing the land and connecting to the water and sewer available (or putting sewer in) and putting one of their mobile homes on it. They then sell the land and their mobile home and they get paid for thier home and get me full market value for my land (which is not selling now).

I am hoping to work it into a direct purchase of the land by them, but may have to wait until the mobile home (and land) it actually sold for this payment.

Actually this first deal may end up a little more complicated than the future deals will be as the first 5 parcels that I have now are going to be actually traded for downpayment amount on a new doublewide that they will put on my existing 10 acres homesite for my grandmother to come up from FL and live in as we expect her to need to be watched closely by us over the next several years. This will allow her to sell her "condo" without the worry of needing the money to purchase something up here.

Thanks to Bigger Pockets and its community there is a way to deal vacant lots even in this economy with its troubles. Basically I am suggesting doing a consignment to local mobile home dealers and get paid from the downpayment when they sell.