Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago,
Making an offers on vacant lots
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.