I was just getting a new mailer ready to go. Finished pricing in a few subs near one that I recently acquired from my accepted offer amount. Then, just yesterday I got an offer letter for the same lot that I already sold on terms and it is 150% of my offer that I paid (4 months ago). That’s throwing me off. Are prices going up that fast?
I’ve had other “wholesalers” call me from my Zillow lisiting and they offered 50% of what I paid. So, I am considering checking PRYCD to see what their calculation would be…
@suitedconnector are you saying this offer is 150% of the amount you paid when you bought it, or 150% of the amount you sold it for?
And is this an obvious blind offer letter from another land investor or is it coming from a normal retail buyer?
It could just be an anomaly, or a carelessly priced offer (the kind that will be retracted the moment you accept it). Prices have definitely gone up, but I don’t think they’ve gone up quite that quickly, unless there is something truly remarkable about this property.
@charlotteirwin 150% of my offer price. From another dealer.
There is a large influx of newbie land investors right now. Many are hitting the same counties and areas taught by Gurus.
The best thing to do imo would be to research a county well, test out a mailer according to your investment criterea (how much you project to make), and then make an analysis of your results. Based on the results, you could try and up your offer or find a new area (better).
The #1 mistake newbies make is to overpay. Then they are stuck with the lot and finally wholesale it to someone lile you.
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