Posted by Mel-Tampa Bay on May 08, 2006 at 16:43:01:
I’m somewhat of a newb myself, so take it for what its worth. But I recently purchased a very good book about straight options. The author is from my area. I know he knows his stuff. His name is Thomas Lucier.
The book cost about 20 bucks and then you can download and use all his forms.
In this book he talks about doing exactly what your trying to do. Worth the read.
Hope this helps.
Happy investing
Mel
Is there a deal in lease optioning vacant land? - Posted by Stonelove
Posted by Stonelove on May 08, 2006 at 13:39:48:
Hello all - one of my leads generated a seller who has some vacant raw land he’d like to dispose of really cheap.
As a newbie investor at first I wasn’t particularly interested since i’m not a developer/builder - but the land is in a desirable area and at a recent auction I attended some parcels of land were auctioned off (with building permits) so I do know that there is demand for such in my area.
This got me thinking perhaps I could do the same by lease-optioning the land, doing some “sweat equity” work by researching the property, permits, comps etc and stop short of building on the land (its an acre, in a street with some mcmansions in a very desirable area). I would wholesale the whole deal to other investors/developers.
What do you think and how would you structure such a deal, is there a better way than lease optioning? I want to tie down the land for a minimal cost to do the necessary footwork and if i’m unsuccessful then I walk with only a minimal loss on my part. Can one auction such a deal - might be a stretch since I would only have the option and I guess i’d might have to pay off the land owner to take it to the auction, but i know there are some creative wizards out there so please weigh in.
Thanks!
vacant land? - Posted by michaela-ATL
Posted by michaela-ATL on May 09, 2006 at 15:17:21:
Why not just put a contract on it? I do that all the
time with vacant lots. Then I search the builders that work in the area, send an email out with details and price and before you know it you have a contract to flip it.
Michaela