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Wednesday, December 16, 2009

Buying and selling land

I just got finished watching a live webinar and learned some new stuff. Seems that you can get on the Internet and do a search for tax sale listings or county records and find list of raw land for sale. At least in Texas it seems,and look through county records to see if you can buy the land before the sale.
That's right, I said before the sale of the land, this way you can send out a special letter the the owner of the property and you don't even call the owner, until (maybe) latter. Find out if there is any more owed on the property and make them an offer to buy. Why, do you ask yourself ,why land? because when you buy you use owner financing to purchase the land. Land is very difficult to sell right now, and the banks aren't loaning very much on land right now, It's hard enough to get a loan on houses. Remember these people or in some kind of trouble with the site or the taxes would be paid. It's going to auction right!
So let's say that you get a letter back and a signed deed, Now you can find a buyer. Maybe it's the guy next to the lot that want to buy it to expand, or maybe a library want more parking around the block , or maybe some one wants to build a house on the lot. There's all kinds of buyers if a deal lands in their lap. You know how hard it is to find out who owns a piece of property when you go by in your merry little way and you say to yourself, I wonder who owns that lot there , that seat there and nothing ever happens to it.
You can take the property address and google map it ,to get a birds eye view of the surrounding area. You might just see something around there that could spark your interest. And you know how to get in touch with the owner, or should I say seller, or buyer.You might even get another idea to JV with that owner. Who know until you do it, and when you do do it, your doing the right way and know body can tell you different. Google, Fannie may promissory note or or go to Stewart tittle online and get all the forms you need like, land trust documents and create a land trust with the property.Sell the property the same way by owner financing, so the property will move quickly and you can receive monthly positive cash flow for a good long time, Like three to five years or what ever you can get, but keep in mind not to get upside down on the payments, so you have to come up with cash out of your pocket.
Any thoughts on buying and selling land do you guy's have?

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