All Forum Posts by: Jason Pachomski

I would assume you just call the cops? I'm guessing that you're planning on flipping the land and holding on to it for as short a time as possible? 

@Jeff Greenberg thanks for putting this together. I'll be there.

@Trevon Peracca once you get a ballpark value on it, see if they'll accept an offer for 10-25% of FMV. Then turn around and sell it on terms for (at most) 50% of value. If your purchase price is low enough you can afford to not be perfect on your appraisal of the land's value. Especially if it's in an area where there aren't any sold comps (or at least none that show up in the usual places). A lot of vacant land gets sold off-market so the usual sources for comps aren't always that helpful.

Guys like @Jack Butala and @Seth Williams know their stuff when it comes to land so hit them up should you pursue this any further.

Haha. You're probably right. Like I'm sure a lot of us "entrepreneurs" though I always feel like i need to be IN CONTROL. Guess I'll just outsource it to someone and hope they do a good job :D

Hey All,

For those of you that are self-running your websites (buying and selling) on WordPress, which themes do you like? I’m running Agency Pro on my selling site right now and was gonna try Optimize Press for my buying side but I’m not in love with it. Thoughts? i'm toying with the option of just having someone design a custom theme for me.

Horseshoe Bend, AR - 0.31 Acre Land For Sale - Financing Available

511 Dove Ln, Horseshoe Bend, AR 72512

$2,100

KEY FEATURES

APN: 800-08012-000

Lot Size:  0.31 Acres

Property Type: Land

Utilities: Electric / Sewer / County Water / Telephone / Gas

Road Access: Paved

DESCRIPTION

Nestled in the Ozark Mountains, on the Strawberry River, Horseshoe Bend is easily accessible to Arkansas' most scenic highways. The city is located within 3 hours of Little Rock, Memphis and Springfield and is the perfect springboard location for visits to Arkansas' and its surrounding states' most popular attractions! Izard County's largest city covers over 14,000 acres and sports a population of 2,180 residents.

Come fish or canoe on the river, enjoy boating on one of four lakes, including 640 acre Crown Lake, challenge the state-of-the-art par 3 or the 18-hole championship golf course, bowl a line or two, toss a few horseshoes, play miniature golf, shoot a few hoops, shuffleboard or tennis, swim in one of two indoor pools or take a sunny outdoor swim on Turkey Mountain. The town offers convenient shopping, a library, several restaurants, two resorts, a spa, two music and variety venues, and so much more!

Financing is available. No credit check required.

Website: http://paragonlandbank.com/listings/horseshoe-bend...

Contact info: 

Jason Pachomski 

Paragon Land Sales

818-538-4304

Kyle,

I've closed a couple of raw land deals "in-house" (meaning without a title company or attorney). I too just don't see the sense in spending (for example) $1000 on title search / insurance for a piece of land I'm buying for $500. Reason being -- and someone please correct me if I'm wrong -- title insurance only covers the amount you paid for the property, not the value of it. In that light it doesn't really make sense to pay $1000 to protect your $500 investment. 

That being said, while I've closed without title insurance, I would NEVER close on a property without a title search. The good thing is you can farm that out to a company like AFX Research (no, I'm not affiliated but I have used them) and for around $150 you can get a title search done. One of the many things I like about raw land is that in most cases the seller owns it free and clear. I've also found in a lot of cases that the property has been in the family for decades, especially in rural areas. This significantly minimizes the chain of title.

Yes, when doing your own closing there's always going to be the risk that some long buried problem could pop up. That's why I only do in-house closings on parcels that paying for title insurance doesn't make sense on. Just make sure you're using the correct documents for your state / county, get everything notarized and recorded, and you should be fine.

Obligatory yet annoying disclaimer: I'm not an attorney and this post is definitely not legal advice.

Good luck! Let me know how it goes.

We all got trolled so hard in this thread hahaha

 I actually haven't run into that, but I've also never targeted the neighbors. I suppose there's nothing stopping them from going directly to the seller themselves but, to be frank, most people are just straight up lazy and would rather not bother with it. Especially if the process is already in progress. One way to minimize the "damage" in the rare case that this does happen: push as much of your research and due diligence towards the end of the process as you can. I don't do my hardcore research on the property until AFTER I at least have a purchase agreement signed by the seller. And if you have an exclusive option in place, they'll at least be hesitant to go around you if the buyer contacts them directly.