In this guest-written blog post, experienced land investor Mark Podolsky shares the websites and techniques he uses to find profitable land investments.*
Where do you find the best land deals?
There are many websites where people advertise their property. One of the best resources for acquiring tax-delinquent properties from the county directly is www.bid4assets.com. This site helps counties liquidate their tax-delinquent parcels and where you can find amazing deals. Just make sure you don’t get caught up in a bidding war and end up overpaying. You can typically find land deals on this site as most investors are focused on the single-family home market.
There’s eBay, there’s Craigslist, there’s all these platforms, right? Ignore all of them. Those sites are for the retail buyer. You may find a good deal, but they are few and far between. Plus, I actually have an automated system to find deals on Craigslist, so it’s not a total waste of time. Here is a link to my video
showing you how to automate Craigslist deals.
The main objective is to acquire the property typically at 20-30 cents on the dollar and in my experience of closing over 5,000 transactions you won’t find this type of deal on the eBay or Craigslist platform, as those sellers want close to retail and are typically not distressed sellers. That being said, it costs nothing to contact these sellers and offer a bulk deal purchase offer at a discount as the seller may discount heavily for the cash injection so they can acquire other parcels.
However, the majority of your time should be focused on the people advertising to the world that they don’t want their property anymore. These are people who live out of state and owe back taxes. I simply send these sellers a low-ball offer purchase agreement in the mail. Since they have few options due to the fact they are going to lose their land sooner or later, they may accept the low-ball offer and you are on your way to buying land for pennies-on-the-dollar. I’ve been utilizing this technique since 2001 and the response rate has been surprisingly high at 3-5 percent.
If you would like to learn more tips, tricks and techniques go to www.TheLandGeek.com
to find educational books, e-books and details on an informative weekly podcast.
*Mark Podolsky is not affiliated with Equity Trust Company or its affiliates. The information provided is for educational purposes only and should not be construed as tax, legal, or investment advice. Whenever making an investment decision, please consult with legal, tax, and accounting professionals.
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