All Forum Posts by: Isa G.

Hi Treshawn, 

I am an investor and licensed realtor in Kalamazoo and I specialize in helping investors find value-add properties. I'll send you a direct message so we can speak further.

-Isa

Hello BP,

Does anyone have experience buying or wholesaling vacant land in rural North Carolina? I came across a 5-acre lot and would love to work with someone on this that has experience. 

Thanks!

Hi Louis, 

I wholesale in those areas. I recommend using Devon Title Company as they're good with assignments. Feel free to message me and we can set up a time to talk.

-Isa

Thanks @Rodolfo Goncalves! 

Your questions give me a good amount of research to do so I can determine the approximate value of this land and best market it out to potential buyers. 

The seller is motivated to let it go for 8k so I think I can move it, it's just maximizing the assignment fee that will most likely be the challenge. 

I hope to share an update on this soon.

RM-36 is also the City of Kalamazoo's Bed & Breakfast District so you can legally host short-term renters (Airbnb) if the property is in that district.

Greetings, 

I'm working on an off-market vacant land wholesale opportunity and have a couple of questions about how to properly determine the end price I should assign this for. It's a 1-acre residential lot in a rural town of Jackson County, MI. It is right off of a major road and has nearby new builds that recently sold for 260-280k. It has a septic tank and electric ready to go and the land seems ready to build on except that it's got an old trailer and barn that most likely need to torn down and removed. 

I'm waiting to hear back from the County Zoning Department to gather more info on potential uses and confirm that it is SFH ready but in the meantime, I'm wondering if anyone has advice on the following:

1) Should I be concerned about the existing trailer and barn (and possible need to remove those?) Could they increase costs significantly for a new build? 

2) How should I best comp this lot? Seems like using sites such as land.com, landflip.com, landwatch.com, and landcentury.com to find comps is one approach but what if there aren't any apples-to-apples comps? I've heard others say to take 20% of the price of nearby new builds and that is around what an end builder would likely pay. So for example 280k x .2 = 56k. Is this accurate? 

3) What are the best ways to find buyers for this kind of lot? I can use PropStream's cash buyers and filter for vacant lot buyers as one approach. Local agents may also be able to help. What other strategies should I try? 

4) I'm realizing there may be some untapped potential for more off-market deals like this and would love to learn from/partner with someone who has expertise in this niche. Let me know if this sounds interesting. 

Thanks,

Isa

Thanks @Sean Sloop

I’m going to wholesale this deal to an end buyer. Haven’t found them yet so not sure if they’ll be hiring out or not.

Thanks @Brandon Sturgill and @Michael Garofalo 

A small amount of electrical has been done including adding a new electric panel. It needs all other mechanicals. The exterior, roof, and foundation are in good shape and I'm not sure about drainage. The house was built in 1900 which I know means higher costs. 

The upside is that the market is hot right now due to a shortage of supply (shocker) so the ARV may justify how big the time/$ investment on this will be. Plus, I got it under contract for low enough that there should still be room for a decent assignment fee.

Hello BP, 

I got a 1,672 sq ft house under contract that I'm looking to wholesale. It's in Charlotte, MI (about 20 miles SW of Lansing) and is gutted to the studs inside. Has anyone completed a rehab for a property like this? I know it depends on many factors, but is my rough estimate of around 60k in the right ballpark?

I can provide more info if that would be helpful in answering this. 

Thanks,

Isa

Hi Charyl, I've worked with Jason Whitell from Avalon Insurance. He was able to find me some great options for Kalamazoo although not for distressed property. I'll dm you his number. Good luck in your search!