All Forum Posts by: DeWitt Gibson

Just to clarify a little further, I am still very interested and active in Land, just not in the middle of no where with no infrastructure vacant land. People may want to build a hunting shed, park a tiny home or something like that. Problem is that the County isn't always willing or able to issue permits for stuff like that on vacant land. So people might call and ask a bunch of questions about building and try to get you to research whether or not what they want to do is allowed, then you do the work and get back with them and they never return your message. Stuff like that... 

Many of the vacant land buyers I have dealt with have unrealistic expectations, limited computer skills, and tend to agree to things then disappear. Many are fine though and I don't mean to be judgemental. All in all its just a whole lot of work with low returns in absolute dollars. For example, you could say that you bought a parcel for $1000 and sold it for $3000 therefore you made a whopping 300% return, and you'd be right, but in reality you did both sides of a deal for $2000 which if you seller financed would take years to actually put in your pocket. Some do deals much bigger than this and some are more efficient at it. I'm not saying it doesn't work, it does, I just haven't found it to be particularly lucrative or enjoyable given the amount of work involved.

Hi Justin:

I'm here in Phoenix also. I am looking at it from the exact opposite as you currently. I dont want to tie up my cash or debt into holding but I'm pounding the pavement looking to get wholesale deals under contract. Maybe a good connection? I'm also new to all this by the way.

Yes, many of my vacant land deals have been rural. I bought into one of the guru courses who promotes this type of thing. I have learned a ton, and I am now moving into residential infill lots and such. I'm looking to partner with custom builders. There's nothing like doing your own negotiations, contracts, and recording to learn fast. However, rural vacant land dealing is just brain damage, in my limited experience.

Also, I just haven't found flippin dirt very interesting or inspiring.. but that's just me. 

The issue I have found with seller financed vacant land is that end users are off the grid types who are a challenge to do business with. Also, in order to make your margins you need to do a lot of the work yourself which is time consuming and risky when you start out and don't know what you are doing very well. For example, you avoid lawyers, title companies, and Realtors. It does work, I have made money doing it, but I can tell you for sure those promoting it as easy, simple, and passive are greatly over-hyped and have something to sell you. I plan to keep going with it, but I intend on doing a smaller number of larger deals and bring in professional partners from here on out.

Hello from Chandler / Scottsdale AZ. I've only been investing in RE for a year but I'm an AZ native and I know Phoenix area neighborhoods well. Looking forward to meeting you.

Hello Bigger Pockets:

About a year ago I wanted to start investing in real estate and wasn't sure where to start exactly. I have a financial background and have owned three houses for my own personal residence so I thought I'd buy a rental property. I was discouraged from that path by a disgruntled landlord friend of mine. So, I started flipping and seller financing vacant land which I have done for the last year with moderate success. I have found the vacant land model to be not all its cracked up to be, so now I'm moving into more expensive residential lots and wholesaling houses. I'm in Scottsdale Arizona and looking forward to connecting with you. I feel like I'm still searching for my niche so I'm open to any new connections.