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Updated almost 10 years ago on .

User Stats

43
Posts
7
Votes
Iris Burrows
  • Investor
  • Atlanta, GA
7
Votes |
43
Posts

Wholesaling land: what am I missing?

Iris Burrows
  • Investor
  • Atlanta, GA
Posted

Hi BP Community,

I'm seeking any other ideas on who to sell some land I have under contract. 

I followed the advice from a previous forum and other resources to help me figure the price of the land and what homes would go for in the neighborhood. I checked the property records for zoning and I know the land used to have a home and a business on the lots, so I "assume" there is existing sewage. 

I've marketed the lots to a couple developers in the area (one on the same street), my buyers list, craigslist, my network. I've gotten a little interest, but no one solid. In fact, they eventually "change their minds." 

I've lowered my fee drastically. I assume, this being my first land deal, I could have overpriced it. But still no action. 

What am I missing? 

Some of the feedback I've received:

Too far down the street (corner lot)

Close the the railroad tracks (across the street)

The second lot is too narrow (side by side lots, single owner)

Not a great neighborhood (homes are going for 2's & 3's so I don't get it really)

Not their ideal location (preferences outside the city, Fulton county or OTP)

No one has said the price was too high.

Any insight I would greatly appreciate! 

Thanks,

Iris