Commercial Land is where the biggest discounts are right now, down to 10 cents on the dollar in Florida.

I'm currently looking at making an offer to the homeowner of a small run-down rancher on 2.7 acres of good land in a good location.

I am not talking about just going to court.I am talking about 3 day notice to quit,filing eviction,court date in the mail,going to court if tenants answers and getting judgement and writ,then paying writ fee and waiting for the marshal to set up throwing the stuff out.These time lines and processes will vary by state.In some areas the marshalls are backed up serving the writs.So if it takes 2 months to get them out and the writ takes a month then it will be 3 months of lost rent.4 if you get them out mid month unless you can land someone living in a hotel or moving to the area mid month.Then you would only lose 3 1/2 months.You also have to factor in time to turn the place and clean it and rent it out again.The fact you accepted a reduced rent will make it hard to get an eviction in court.Accepting a partial rent usually means you are doing a workout with the tenant.So for instance of I can get a majority of the rent I might do a workout.If the tenant wants me to stop eviction for 100 dollars I tell them to pound sand. :)What you do will also depend on your personal cash flow situation.Are you trying to preserve personal credit and do you have a recourse loan on this property??

Then you have them with land and another whole situation.In your town deals will be somewhat unique to your area.

Hi All,
Been recently interested in the manufactured market.
Wondered the pros and cons of this side of the business.
I have 3 current SFD, so this is a bit outside of what I am interested in, but the ease of turning...

Land Trust Assumable Loan?

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Chris unless there is land you can sell with this property or a way to change it's use I don't like this deal at all.Also the hard money lender saying they will mentor you etc. sounds great but you have to watch out for people that will separate you from all the cash you have.I think you would be better sticking with apartment buildings and line up permanent financing while rates are low.

What you will need to do is ask your seller to put the property into a LAND TRUST and list you as the beneficiary of the trust.

I am coming at this as a land owner.