House with lots of property ..High$ though - Posted by TroyT

Real Estate Investing
#1

Posted by JohnBoy on July 15, 2001 at 12:28:17:

Are you saying the house isn’t worth $229 with the property it’s on referring to the land it’s on including the 4.13 acres or just part of the 4.13 acres?

What would the lots be worth if you subdivided it? What would cost to subdivide?

What does the seller owe on the property? What does the seller need out of it? Will they finance any equity? Lease option? Carry back a second?

Does the house need any work? If so, how much will it cost?

Do they have kids where one spouse will need to start paying child support? That spouses share of any equity payments could come in handy to help maintain part or all of their child support they would need to pay out every month.

When is the seller moving over seas…as in…how fast does ne NEED to get this sold?

#2

House with lots of property …High$ though - Posted by TroyT

Posted by TroyT on July 14, 2001 at 14:53:05:

Had a seller call on an ad I ran saying,“I buy or Lease houses. Any price, any condition call…”

He has a house listed for $229 000. The house itself is only worth about $170 000 with the property it is on, but the entire land is about 4.13 acres. This is prime agricultural (bordered by vineyards and peach trees) or could be sectioned off into 2-3 lots.
The seller is getting divorced and going over seas to work. He said make me an offer.

I dont’ know what approach to take. Should I get some investors together, buy it, then Owner finance the house and then sever the lots?

I’m very new to this and think its out of my league. Any suggestions appreciated.