The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Thursday, May 05, 2005

Land selling over over 75k an acre!

We've invested in some land in Ferley Nevada that is about 30 minutes outside of Reno. The prices of real estate in the small town is just amazing!! Land is selling 50k -180k an acre for development.. We have some next to a gulf course ;-)

Well, my partner in Reno told me that we have a cash offer for our property. Its not the asking price, however, its a good starting point. We plan to counter and see what shakes out.


P.S. I already got a phone call from my new marketing strategy. This is a good sign. Hopefully, we'll meet and I'll be able to help this homeowner out. Stay tuned..
|| Bginvestor, 9:12 PM

3 Comments:

Excellent, Brian!

I recently found some land in an area that was selling a few years back for $40-50k/acre. The aprcel is 1.5 acres for $13k. I thought about driving out there to look at it, and make an offer of something like $10k, and then resell it. The holding costs wouldn't kill me, and I could stand to make $5-10k (or more) from it.
Blogger Steve, at 5:19 AM  
I've thought about buying land, too. But, there are no tax benefits, are there? So, the only good reason to buy land would be to turn a quick profit, if such a thing would be possible in that area. But, then, there is capital gains to deal with.
Blogger Trisha#1, at 9:25 AM  
Land is tricky! The best strategy that I've seen is to buy land in good potential areas and hold until it matures. Sometimes it only takes a few years.

Good investing!
Blogger Bginvestor, at 11:09 AM  

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