All Forum Posts by: Anthony Vargas

Hey Daniel! Investor/wholesaler from Nashville! I've also taken some thought about investing in out of state markets for myself. Im starting to feel that my market is very saturated with investors with little supply. The first thing that came to mind for me when considering finding leads out of state is who do i know in that state that could be my boots on the ground? youll probably want to start there and figure out a model that works well for the both of you. You'll want someone who is a little educated in REI to check out properties in person, take pictures and meet with contractors, etc.

as far as markets that I would want to start looking at, I would do as much research on the hottest upcoming places that people are migrating to, that haven't blown up yet. Check census reports, where companies are moving to build new facilities, and even check with moving companies in your area to see where they are doing the most jobs and where those people are moving. Best of luck!

A little about the property, it is a 42 acer farm that sits 3 miles from the city limits of a town with 150k population, and rapidly growing. It is about 3 miles from the interstate and is next door neighbors with a newly built sub-division. The homes in the subdivisions comp at around 500k. The buyer does not know the value of the home & determined the asking price based off a decision on what they'd like to get out of the property. The owner described the land as mostly flat and partially covered with woods, but we'll see tomorrow. My main concern is giving him and offer that is too high and doesn't leave me with much of a margin of profit for my works, finding him a cash buyer. 

What are key questions that I should be asking him when visiting the property tomorrow? 

What are some things that developers look for when determining if a plot of land is developable for building homes? 

How can I bring attention to the homeowner that his land may not be as worth as much as he thinks it is? I want to make sure it is something that not only works as an opportunity for myself, but for the buyer/developer as well? 

Thanks so much in advance!

@Stan Beech

Hey Stan! Thanks for taking the time to shed some light on my question! Awesome to find an investor so close to me! I will be sure to keep all of those thoughts in mind when seeing the property! Love Murfreesboro!

@Michael Porche

All of this was very helpful! Id like the opportunity to be able to discuss a little more! What will be the best way to reach out to you?

@Michael Porche

First off, thank you for taking the time to ask those question! Definitely has my mind thinking in the right direction. The property is not too far out Murfreesboro TN, which has made tremendous developments over the past years. The 42 acres sits right next to a subdivision that has been built within the last 10 years. The land has been used for farming and agriculture, would that turn off a potential investor? Or make it more appealing? Thanks for the help Michael!

I have most recently started looking for wholesale deals in my area & have a found a potential deal. It’s a in a more ruala part of my area being 3 miles outside the city limits. The property sits on 42 acres that has two houses built, one primary and a guest house. One of them is 2500 sq ft and the other 1080 sq ft. Also has a barn on the property. The owner was a asking 690k but after speaking to him stated the minimum that he’d take is 650k. I have an appointment to see the property and am curious as to how I can more accurately come up with a offer. I have been looking for deals in city limits and have been running comps on property around 100-200k, but with so much more land I’m having difficulties determining an accurate value of the property. Most the land is farm land & the property is near the interstate.

If I left out any important information that would be crucial to pointing me in the right direction please let know, any information helps.