All Forum Posts by: Kwambe Smith

I've been given the opportunity to purchase some vacant lots in New Mexico. The lots are in undeveloped subdivisions located in Luna County and Sandoval County. I've seen pictures of the lots and they are between a .25 to .75 of an acre and they are currently zoned for SFR.

Does anyone know how the real estate market is in those areas? I'm looking to possibly buy some lots as a buy and hold investment.

Thanks

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Hello BP Members,

I'm a new REI investor based out of Georgia interested in vacant lots in the Tallahassee Florida area. I would definitely be interested in networking with other local investors, real estate agents,wholesalers and the like to understand how real estate market is. If I can help someone with anything feel free to reach out. Thanks!!

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Originally posted by @Melissa Barnard:

Get with a local realtor and they can estimate them for you! It’s really easy- in Texas we have an app and it will shoot out an estimate for you.

Thank you Melissa...already on it!!!

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Originally posted by @Jessica Zolotorofe:

Yes, you would still need title insurance and inspection costs and transfer tax. Not sure if GA is an attorney state, but if so, that fee still applies (for the purchase, not lender's counsel, of course)

Okay that is good to know. Thank you for your counsel.

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Originally posted by @Jessica Zolotorofe:

Costs usually include transfer tax, attorneys fees, due diligence/inspection costs and title. Their lender will also likely have fees, tax and insurance escrows and fees to close. I would make sure you have a disclaimer that you are providing info ONLY as a courtesy and they have to verify all costs and fees themselves.

Hi Jessica..thank you for providing your insight. What about if the purchase will be all cash and there will be no financing? Do those costs still apply?

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Originally posted by @Jessica Zolotorofe:

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Hello Fellow BP Members,

I am a newbie investor in the process of investing in tax delinquent vacant lots for the purpose or reselling. I've found a few properties that I'm interested in that I will be sending offer letters to. My question is..How do I estimate what the closing costs will be for a real estate transaction. I would like to provide the prospective seller that information in my offer letter so that the potential costs would be transparent. I appreciate any feedback, insight or additional nuggets of information.

Kind Regards,

Kwambe

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Hi Seth....I too would be interested in the templates you referenced to @Nicholas Heinrich. May I also get a copy?

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@Benjamin Ervin...Thank you for sharing your experience and insight regarding this flip. You and your wife did an awesome job and I'm sure it will sell in no time. I appreciate you giving us BP members the extra motivation to forge ahead. Much success to you and your wife on future deals!!!

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Hi Darek... Thank you for reaching out. I will definitely keep you in mind going forward. I'm currently in the process of bidding on lots in the Pensacola area.

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All Forum Posts by: Kwambe Smith

Kwambe Smith has started 13 posts and replied 52 times.

Post: New Mexico Land Investing

Post: Tallahassee Real Estate Investors

Post: Estimates For Closing Costs

Post: Estimates For Closing Costs

Post: Estimates For Closing Costs

Post: Estimates For Closing Costs

Post: Estimates For Closing Costs

Post: Land flipping for personal use

Post: My First Flip! With Numbers and Photos!

Post: Vacant Lot Buyers Pensacola