Insight on Wholesaling vacant land to Commercial Developers?

[Marquest Page]

Hey BP,

It has been a while since I've written anything on the site, I haven't been very active as I let other things in life detour me from my investing endeavors. The few deals I have closed were wholesale deals for residential properties. I started getting new leads going and have few perspective buyers I am working with. This passing weekend, I went to view one of those properties and came across a large plot of land with signs stating FSBO and Owner Financing and the amount of land was 62 acres. I was baffled. I never thought about looking into land deals before but even if I did I figured this may be a big thing to tackle. I took the number anyways. Spoke with the guy briefly and he advised he wanted 4 million for the whole land or was willing to sell in increments of 10 acres minimum but didn't give a set price on the minimum purchase.

I for one wouldn’t know the first thing to do to reverse engineer this thing. I figured I would first need to find developers who purchase land in the same area and figure out how much they paid per acre just to see if what he is asking is fair. I have heard somewhere that some people use listsourse.com to find developers using certain fields to narrow it down but I have NO IDEA how that works. I am not sure if there’s another way to find this info out either and I am open for ideas. I know such a list would also give me potential buyers to wholesale this land. Seeming the owner is willing to finance the deal it shouldn’t be too difficult to wholesale if the price is write for the end buyer.

Also, I have no idea about zoning, multiplicities and whatever else I would need to know about this stuff. If there is anyone who has any experience in flipping massive land deals whether it be you’ve wholesaled a deal to a developer or have purchased and developed properties like subdivisions or what have you, PLEASE SHARE as it would be an eye opener.

Thanks in Advance :-)