All Forum Posts by: Adam Smith

Unfortunately none of the older ones are for sale. I'm very torn on what to do, I hate to buy the lot and have that money tied up in it and not build on it.

I would describe the area as being pretty well maintained by landlords as of now. Is it a declining area? It would be if the landlords got lazy.

I'm in the process of buying a vacant lot to build a duplex on. Something was just brought to my attention regarding appraisals. This duplex is going to be built in an old neighborhood, the actual street is nothing but older duplexes. I was telling one of my mentors what I was working on and he told me that my new duplex may not appraise due to nothing to compare it to, he said he was going to check on some things for me.

What are my options from here?

What happens if it doesn't appraise for what I need it to?

The land has been cleared off, there's nothing left from the old building. My construction loan is lined up. The property has been for sale coming up on a year and I don't think he's had any offers.

In my area there aren't any duplexes for sale, I live in a small town and I'm not in a position to venture outside of my city to look for properties. He's asking 10k for the lot. I know that doesnt seem like a lot for some, but like I said I'm in a small town and the lot isn't worth 10k, it's worth 7k tops. I can afford 10k but I refuse to overpay. The lot is in a lower class neighborhood and will cost approximately $115k to build.

Hey everybody, been reading the forums for a long time and decided to start posting. I know I need to work on my profile but wanted to get my question out here first.

I'm currently trying to buy a vacant lot to build a duplex on. An elderly man owns it and he previously had a duplex on it that burnt down. He told me that he doesn't want to put anything else on it because he's too old. He's had a for sale sign in the yard for about 6 months now. I've been eyeing the lot for a while now and finally in a situation where I can buy it.

Yesterday I called him and offered 4k less than what he's asking, he countered by lowering his price by $500. I countered back by raising my price $500. I'm willing to go up a little more but not much. We talked for a few minutes, he asked what my plans were, etc. the conversation ended by him saying he has my number he will call if he decides to accept my offer. My question is what should I do next? Wait on him to call or go ahead follow up with him.

Thanks for the help.

Hey everybody, been reading the forums for a long time and decided to start posting. I know I need to work on my profile but wanted to get my question out here first.

I'm currently trying to buy a vacant lot to build a duplex on. An elderly man owns it and he previously had a duplex on it that burnt down. He told me that he doesn't want to put anything else on it because he's too old. He's had a for sale sign in the yard for about 6 months now. I've been eyeing the lot for a while now and finally in a situation where I can buy it.

Yesterday I called him and offered 4k less than what he's asking, he countered by lowering his price by $500. I countered back by raising my price $500. I'm willing to go up a little more but not much. We talked for a few minutes, he asked what my plans were, etc. the conversation ended by him saying he has my number he will call if he decides to accept my offer. My question is what should I do next? Wait on him to call or go ahead follow up with him.

Thanks for the help.