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Deal 2- 10 Acres Northern Arizona
I received a call from this seller a my second week of marketing for vacant land. The owner wanted $600.00 for 10 acres just off the highway in Northern Arizona. There were also $300 in liens on the property. I was still new to this game but land for less than $100 an acre what can go wrong?
Well nothing went wrong. I had to create the deed. We had to remove his wife who had passed on but the county told me what to do and that process was really easy.
I grabbed some pictures that were near my parcel and I began my marketing. I wanted to sell this piece on terms. I ended up getting $99.00 down and $125.00 for 60 months. Is this deal going to make me rich? No, but there is a lot of power in the compounding of these small notes. The land is easy to sell and most people can afford the small payments.
I have now covered my first two deals. In the last 6 months I bought 23 parcels and sold 11 of those. I also already have 7 deals that will close in January. I will share details of my first 10 deals. Hopefully you will get something out of it.
Comments (3)
Great post Christ, keep them coming!
Account Closed, about 9 years ago
Chris I am very familiar with the land contract. One of my goals for 2016 is to end the year with 10,000 a month in note income. I am at about 2500 right now!
Mike
Mike T., about 9 years ago
Mike,
I have been getting interested in land investing also. I have read a little on Dodd / Frank regulations but not enough. Do you know how they apply on a land contract for deed? I have started out small with some direct marketing to specific areas and types of owners that are within a few hours from where I live. Hoping to find some discounted deals and get my feet wet before venturing across the country. You have a new follower to the blog! Keep the motivation coming! Chris
Chris Knutson, about 9 years ago