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Updated over 9 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Tami Brooks
  • Investor
  • Bakersfield, CA
1
Votes |
7
Posts

Making an offers on vacant lots

Tami Brooks
  • Investor
  • Bakersfield, CA
Posted

I live in CaliforniaI recently found a seller with tax issues on a few properties. Low and behold the properties that I was inquiring about were all vacant lots (huge oversight on my part). Once I spoke to the seller I was given a additional 4 occupied property addresses to look at.  Three are rented with non paying tenants, the fourth is vacant/boarded with delinquent taxes.  I told the seller up front that I was not accustomed to making blind offers.  After hearing the stories of how bad the tenants are I know there is no way for me to get inside the properties to see the interior unless the seller gets the eviction process going.  However I really want the sells.  So I drove by the properties, did my research on the areas and yes....I went ahead and made blind offers all 58-60% below MV to be safe and explained briefly how I achieved my numbers.  The seller took all the information and then asked what I was offering on the vacant lots.  I told the seller that I had not given them any consideration once I began working on the others.  So now the seller wants me to provide offers for the vacant lots (since that is what I was originally acquiring about), then call back the following day with those offers while the seller considered my offers for the occupied properties. 

I am a new investor and I do not feel comfortable making an offer on vacant lots nor am I confident that I will be able to sell them.  Any feedback will be appreciated.  

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