Hi all. I'm a relatively new investor from Arkansas. I'll be investing with my husband, we currently own an electrical contracting business and are branching out.
I look forward to learning and eventually contributing to you all.
We have our eye on our first property to build property on with an investor. Below is our scenario along with a couple of questions. TIA.
I'm looking at a piece of land that's listed for $55,000. It's been on and off the market for 2 years and last sold in 2015 for $24,900. Would it be insulting to offer, $24,900 for the land. This last time around it's been listed since April 2019, and the sellers agent says "bring me offer," but my agent says they'll be insulted at such a low offer. There has been no increase in the land value. The last comp was in Dec 2018 and prices the land at approx. $36k on a good day. It has a couple drawbacks one being that it has some concrete will need to be excavated as it used to be a trailer park, but the location is excellent. My offer is not all cash.
