Wholesaling a Neighborhood Lot

[Geo C.]

Hi guys! My brother and I (both 20) came across a lot inside of our neighborhood today. (East Atlanta) It’s been vacant for years. Homes in our neighborhood sell from the range of $130k-$150k. The lot sold last year for $12.5k. Is it possible to make a profit as a wholesaler in this situation? We have been across endless material and videos getting educated, but yet we’re still confused. We just want to take action as soon as possible and get our foot in the real estate game. We’re HUNGRY! Any advice on the lot situation guys? Thanks BP

[Jay Hinrichs]

if end product is 130 to 150k I would say lot will sell for about 15k  and MAYBE 20k if it requires little to no work.. also see if there was a home there and if the utls hookup fee's are all paid that makes a difference in many markets.. if not and there has to be fresh water and sewer taps etc.. this could drive price up.. but then again some cities pay for those some the developer does.. so you can see unless you going into the building department and get these questions answered your somewhat shooting in the dark.  also new construction in Atlanta at that price point is probably somewhat of a rough area .. so there will be limits of contractors willing to work in those areas becaseue of theft of materials and their tools..