All Forum Posts by: Chad P.

Is the land cleared or heavily forested?  If the trees are bigger than 16" diameter the timber may be worth some money depending on the species.  Are there any restrictions on the land?  Such as no mobile homes, house must be 1200 sqft or greater, etc.  You could sell the land as an owner finance.  Require a down payment and put them on a weekly or biweekly payment plan.  Say $500 down, $35/week for 260 weeks or whatever numbers work in your case.  Good thing about raw land is no Dodd Frank rules and its hard to mess up.  

I'm from West TN but I live across the river in Waverly now. Good deals can be found but if you're renting it might be hard to get the 1% rule in small towns. The most rent I've heard anyone in Waverly collecting is $800/month. Watch the Hudhomestore and the USDA Rural Housing websites for upcoming sales. For HUD houses, figure out your offer and leave it as a backup. When they counter, just say based on the repairs needed I can't go above my original offer. Just saved myself $11,000 on a house I bid on. You might get beat out by another investor but there will always be another deal.