Updated over 4 years ago on . Most recent reply
Wholesaling vacant land
If I am trying to wholesale vacant land from people who are behind in taxes(preforeclosure) what needs to be on the contract? And do I need tobgo through a title company to get the deed?
Most Popular Reply
@Christopher Moss
I am a land investor and I can let you know that if you buy a property at 30% of MV, you’ll have no trouble selling it for 60%. Why bother to wholesale? It takes 30 days to purchase a property through a title company then you own it outright. If you find something at 30% and you do your due diligence you almost can’t lose. The only times I’ve tried to wholesale is if a parcel is landlocked and I don’t know how to value it. Wholesaling is definitely a grey area and I’m no lawyer. That being said lots of people do it, but you have to understand the nuances, marketing the contract not the property, etc. check out this article by Seth Williams to learn more about it:
https://retipster.com/wholesaling-made-easy/
The bottom line is this, you’re better off just finding a better deal and buying it than trying to wholesale.