All Forum Posts by: Michael J.

I'm in Greenville/Spartanburg area.  Happy to connect!

 It may vary by county.  My county its 5%

You will likely need to come up with the 5% deposit required at the time of winning the auction on your own. If you have access to a line of credit on your primary home, that could be a good option. Alternatively, you could take a loan against your 401k for that initial amount.

Once you’ve secured the property and paid the 5%, you can then work with a private money lender (PML) to close on the property once the deed is ready. 

Here are some ideas to make raw land pay for itself:

1. RV or Tiny Home Rentals: Set up RV hookups or tiny homes for short-term rentals. With platforms like Airbnb or Hipcamp, you can attract travelers looking for unique stays. You could even offer glamping (luxury camping) to make it more attractive.
2. Agriculture Leasing: Lease the land to local farmers or ranchers. Even small-scale operations like beekeeping, organic farming, or growing specialty crops (e.g., lavender, hemp, etc.) can generate income.
3. Hunting Leases: If the land has good wildlife, you could lease it to hunters during the appropriate seasons. Hunting leases are a popular way to generate steady income, especially in rural areas.
4. Solar or Wind Leasing: If your land is in an area with good sunlight or wind, companies might be interested in leasing it to install solar panels or wind turbines. You can also look into community solar projects if you're not ready to commit to a full commercial lease.
5. Timber Harvesting: If there are trees on the land, selectively harvesting timber could generate income. Make sure to work with a forestry professional to ensure sustainable harvesting practices.
6. Rent it for Storage or Equipment: With the rise of RVs, boats, and large equipment, you can rent out part of the land as storage space for these vehicles. A low-cost investment in fencing or a gravel driveway could make the land attractive for outdoor storage.
7. Recreational Use: Open the land for recreational activities like ATV riding, horseback riding, or camping. You could charge access fees or offer day passes for off-road adventures.
8. Lease for Cell Towers: If the location is right, telecommunications companies might be interested in leasing a small portion of your land to install a cell tower.
   
9. Event Space: If you can make it picturesque or add basic amenities, the land could be rented out for events such as weddings, retreats, or festivals. Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.
10. Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce. Combining this with tours or small events can add extra income.
11. Lease Mineral or Water Rights: Depending on the area, leasing mineral or water rights can be a potential income stream if there are valuable natural resources under the land.

Call Stewart Title or Chicago Title and ask them if they work with investors.  Build relationships.

 Whats the purchase price?

Whats the purchase price?

HVAC alone is going to be close to $6000, so how did you come up with your dollar amount on repairs?

Have you pulled a list of title companies around you and called them to ask?  Build the relationship with them.

The CE Shop is great for doing a self paced online course.

Hey there! Great to see you're diving into wholesaling, it's definitely a journey worth taking. Wholesaling vacant lots can be an excellent entry point. The key is to understand your market deeply, pinpoint where the demand is, and identify lots that have potential. Start by networking with local investors, realtors, and other wholesalers to get the lay of the land. Educate yourself on the legal aspects, too. Remember, each deal is a learning opportunity. Stay persistent, focused, and always keep hustling. You've got this!