Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x

Posted about 9 years ago

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)

  1. Great post Christ, keep them coming!


  2. 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


  3. 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