hello everyone :), I just started wholesaling and I received few phone calls people want to sell their lots  I do have a general idea how to run comps for improvement lots but how do you run the comps on vacant lots  ?

Where almost anything decent is in the 600-700,000 ^ price range.Cons-high purchase price-garage needs repairs-most likley no positive cash flow 1st yearPros- House newly remodeled interior ( new kitchen, bathrooms, floors, roof, windows )-two blocks away from me ( convinient distance )-potential equity seems promising.- no rent control

My concerns are as follows:1) Insurance claim will take a bunch of time and they will deny it since they do not know the origin, when it occurred, etc. 2) In their review process, they will determine an 'overkill' level of damage that I will need to repair, and then deny the claim anyways for whatever reason.

Of course you have to have them get their reinstatement, payoff, see if they have any liens or judgements and most important look at the house and see what repairs that it might need.After that, you can call me and we can go buy it together!!

I'm handy by trade, have worked for and been a general contractor and have all the tools for the job, whether it's my actual tools or connections for bigger projects or repairs.

The problem is the game of repairs, and the fact that whatever your tenant changes, ultimate responsibility and therefore liability for any repair's failure lies with YOU.

There are too many for me to list on a forum post but I'm more than willing to get on the phone with you to talk. 

Hey Tarik,The seller is planning on selling the property for 440,000 after repairs.

Any interruption of Tenant’s use and enjoyment of such appliances shall not constitute “constructive eviction,” nor form the basis for any defense, set-off or counter claim by Tenant.Tenant agrees to pay as additional rent an amount of no less than $200 per visit or the actual cost of service invoiced by a third party plus $50, whichever is greater, if a tenant-initiated service visit is performed and the request is deemed to be frivolous or without merit.Charges for service/repairs performed where the tenant has been determined to be liable/at-fault for such charges by [Landlord/PM] shall be due and payable in full upon the next rent due date as additional rent.No smoking is permitted on the premises, including outdoors within the property's limits.

Some folks are better with talking to people on the phone, others at composing great letters, while others connect best when they meet people face to face.