If the cap ex exceeds the value created, then you'll need to get some of that cap ex discounted from the price.Instead of valuing the empty lots, think about what the exit price will look like and if you're going to offer more than the current value, ask yourself how much of the value add am I willing to pay for upfront?

The past two years I have been doing all I can in order to soak up all of the podcasts and books that Bigger Pockets has to offer.

If you have any specific questions about the area or what its like on the ground here I'm happy to offer any insights. 

Pro: Possibility to offer much lower than asking price. 

Do you think there is a $40k profit at the list price, or just at some much lower price you want to offer?

We have developed a relationship with a hard money lender that allows us to offer all cash, no contingencies and a fast close. 

I’d appreciate any advise that anyone has to offer!

Just remember that you have to offer something of value at no charge in order to attract interest and get the person to provide their email address.

I typically like to start with an initial phone call to discuss your investment goals/experiences, answer any questions you have, and tell you all about what our company has to offer.

I've been an avid listener to the BP Real Estate Podcast for nearly three years, even though I have yet to take advantage of all the other great tools the platform has to offer, including the forums.