I shared with my loan officer that I was “unimpressed” with the way underwriting was handling my file after declaring it complete.

I am considering purchasing empty lots priced roughly $10-15K below market value.My plan is to offer owner financing for the land.These lots have water, drainage, and electric connections available, and mobile homes are permitted.The area is experiencing significant development, with the lots surrounded by new single-family homes.I would really appreciate any advice, feedback, or suggestions.Thank you It would help if you shared what you plan to buy them for other than just saying they’re 10 k to 15 K below market.List Price: $55KMy Offer: $45KPlanned Value Add:Install fenceBuild drivewayCreate a mobile home padExit Strategy:Sell via owner financingConsidering the option of adding a mobile home as wellIf you like this post, please consider voting!  

Thanks for sharing, always an insightful eye Collin. 

We just started managing 4 tiny homes on 1 lot with a shared pool and they are booking great at a rate commensurate with larger homes.   

Could you please share with me as well?

I do not have any stories to share currently but hopefully I can make that change.

Hi @Jacob Dalton,Thanks for sharing your situation—it’s clear you’ve put a lot of thought into this decision, and I can understand why you’re concerned given the challenges of being a landlord in Cook County.Screening tenants is definitely a key step, but I agree it’s not foolproof.

Any other advice, or pieces that you think I'm missing - I'd be grateful for any and all wisdom that is shared with me. 

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

Thanks for sharing!