Transcription
Welcome in everybody! Happy to have you guys here today. We are talking about comping land. It's been a highly, highly requested topic, Dan. So really excited to get into this. Talk about the intricacies of comping land. I think it's gonna be a good one.
Yeah, I'm excited for this one, and it's always a highly requested one. It's one of the hardest things to do in this business, but super excited to get into it. Welcome in, guys! Adam, Mike, and Mike and Kathy, welcome in. As always, Max, welcome in, guys. Excited to get into comping land. We're talking all things comping land today. Um, yeah, excited for it.
Ron, see if I can get this question up. Question of the day: Answer in the chat. When you're comping land and have no comps within five miles, what do you do? So this is kind of an open-ended thing. Like, you have a piece of land under contract, even if you have a house, but obviously there's gonna be house comps typically within five miles. Um, you're comping a piece of land out. You have something under contract, no comps within five miles of your land. What do you do?
Yeah, really, really good question. Open-ended question. It's an opinion. What do you do? No land comps. This is situations we run into all the time. Uh, land's not one of those things like houses where you might be in a zip code 45242 and you're looking for a three-bed, two-bedroom house within a mile or within that zip code, and you have 50 comps. Land's different. This is Royal America. There's not nearly as many transactions going on, and you will, uh, definitely run into these situations. All the land investors, Mike and Kathy, and all the other people in here have definitely seen it before. So it's common, but really good question here. Even if you guys are just starting out, you've never done a land deal, whatever it is, what do you think? You have a P because this is going to happen realistically. Obviously, we can teach you things like this, um, but getting outside perspectives is huge. I think you have a piece of land, you are comping a piece of land, and you have no comps within five miles of the property. What do you do?
Yeah, get that in the chat, guys. Uh, Mike and Kathy said broker opinion. Uh, um, see, guys, get your guys' opinions in there, and we can go over them. And then that's going to kick off the call. Excited to get into it. We're going to pull up live examples today. Comping land. It's all, it's all things how to evaluate land from. We're going to look at the land a little bit, Ron, or just the, uh, price. We're going to do land too. I mean, not, we're not gonna do due diligence on this. We're going to talk about it. It's, we're going to try to be as wide as we can. We're going to do a few specific deals. We're going to talk about strategies with this, and, uh, go from there.
Specif said, ask builders what they'll pay for it. MH. It's definitely a strategy. Call raor who sold in the area. That's the most common one from Gido. Yeah, really, really good opinions in here, guys. Get it in there. If you guys haven't today, we're talking. If you guys just joined, we got an influx of people just that just came in. We're talking about comping land. All things comping land. We're going to dive into specific comps, go over, uh, pricing and comping the land as a whole. Answer this question in the chat, guys. A lot of some back and forth there, um, that I don't want to say there's no right answer, but there's a variety of things that you can do in this situation. Sometimes it might be a combination.
When you are comping land, and this question, you guys can see on the screen as well. When you're comping land and have no comps within five miles, what do you do? You have a piece of land, you're under contract for $20,000. You're trying to find something like, let me rationalize this $20,000 purchase price. What do you do?
Yeah, and Aizi said, complete novice. So you probably don't have much opinion on this, which is okay. Um, for beginners in there, going to go through comping land today. So no worries, no experience needed. And, uh, just get your opinions in, whatever you think. I'm going to give another minute, Dan, or two. We have quite a few people coming in, guys. Um, I know for you guys who have been here from the beginning, you've probably heard me read this question 10 times. You guys can see the question at the beginning. A lot of back and forth. If you guys are just joining, I think you can see the old comments as well. Um, you have a piece of land under contract. You don't have any comps within five miles. What are your next steps? How do you find out what that's going to sell for? Is essentially what I am asking.
Yep. How do you come up with the price? That's what the, that's the challenge in this business. One of the main challenges, Ron, in this business is being able to properly comp land because that dictates what you buy. It dictates what price you go after, what price you offer. It dictates the whole business. Um, what you say yes and no to, negotiating down, negotiating up, having room to wiggle room in negotiations, all of that stems from this topic, which that's why I really, really like it.
Yeah, mister. So if you guys were, every week, guys, 5:30. If you guys aren't subscribed to our channel, subscribe. Subscribe. Uh, and sometimes if you guys are on our email, our text list, I mean, there's 30,000 texts going out at one time. They might be delayed a few minutes. So if you guys want to be in here right at 5:30, it's the same time every week. We've been doing this for, I don't know, years, Dan. Honestly, I don't think we've changed much. Um, we used to do it in Discord. No, we used to do it in Zoom and we brought it to, um, yeah, we brought it to YouTube probably a year ago. 5:30 every single day, every single week. Get your guys' calendars ready for that. But today, guys, I know we just had about 50 people more people join in here. We're talking about comping land and like Ron said, we've been repeating this, but we're going to get into it now. We're going to go into live examples, how to comp land, especially in these areas that don't have a lot of comps. So the question of the day: When you are comping land and have no comps within five miles, what do you do? I'm ready to get into it, Ron.
Yeah, let's do it. Um, let's discuss that for a second, Dan, because I think that's a good thing to get in. We obviously broker opinion, um, uh, calling builders. That's kind of the most common one. And in the last couple minutes, I've seen a couple people say expand your search range. For me, that is without a doubt the first thing that I'm doing. It's the EAS thing to do. It's the easiest. It's a click of the button. You go on Zillow and you expand your search range. So you go out 10 miles, you go out 20 miles. Um, and if there's comps. Like those are with land. It isn't like it matters the acreage. Like you expand search and acreage and time. If you're talking about a correct, and we didn't say anything about a time on here, um, we just said no comps, uh, but, uh, that's the easiest thing to do where you can still do it on your computer. Getting on the phone with brokers is an amazing thing. Like, uh, a couple people said broker opinions aren't always correct, but if you get three, four broker opinions and they're in the same ballpark, or two of them are in the same ballpark, you're probably in a pretty good spot. Um, so using a variety of resources. The first thing to do is expand your search in terms of range.
Yeah, and I'm curious, like, who in here has run into this issue? Let us know. Like, who, who's run into an issue where you've really struggled? So you had to get a broker opinion, you can't find comps. I'm just curious, like, how many people in here have run into this issue? But the, the best comp that you can have is your own comp. So like, once you sell your property, you know exactly what the market price is, pretty much, right? That's the best possible comp you can have. Every other comp you look at, you want to get as close to that as possible with distance, with size, with land type, um, property type, all that good stuff. You want to be as close to that as possible. When there are no comps, you just have to keep broadening out. You start with a rifle and you keep expanding out with size. So you go five acres, now you maybe go 10 acres, and then you go from, you know, two to five acres. Maybe you have a three-acre property you're looking at. So you're looking at two to five. Now maybe you got to go one to five, then one to 10, and just get what you can get. We're going to go over that. Those things today.
Exactly. That's all we're talking about today, guys, is comping them. We want you guys to feel more comfortable with when you get properties back, when you talk to sellers, and you're trying to determine a price for them. There's so many different values. This is one of the most valuable things in this business, Dan. And it is the most, if you're trying to hire a position out, this is the most expensive thing to do. It is, it is a huge, huge, huge, uh, task, and there's so much time, work, and energy that needs to go into learning how to do this properly. But, uh, it, it's definitely a valuable skill for sure.
Yep. Let's keep it rolling, then. All right, let's go. Um, again, appreciate everyone being here. Uh, so what to look for, Dan? I think the number one thing, like we talk about, or like you kind of just mentioned, is getting apples to apples comps. If you're trying to compare, if you have a piece of bad land, and then you see comps that are good land. When I say bad land, you have a sloped property, a really sloped property, then you're trying to, like, rationalize your price, and then you see a bunch of properties with, uh, flat properties, and they're selling for double or something like that. You need to take those into consideration. So the three things when I say apples to apples, maybe there's something else I'm missing, Dan, is location, which is what we're talking about as get comps as close to what you, where your land is. Number two is quality of land, which I just talked about with like slope, wetlands, just the quality of the land. And then number three is size. Uh, if two acres is selling for $10,000 an acre, 10 acres is not selling for $10,000 an acre. It is something new. PE and it blows, not blows my mind, but it just, it is something new people get. Like they're trying to rationalize a price for an eight-acre parcel and they send me one-acre parcels that are selling for X dollars an acre. That, yeah, I don't think we're missing. Are we missing anything in here? The only other thing I can think of is the time frame. If, if we're missing something, guys, and if you guys have an opinion of something else, let us know in the chat. But the, the time frame of when it sold. If you're looking at sold comps, but that's what to look for. You got to look at when that sold. Uh, a two-month-ago property that sold two months ago is, uh, typically more accurate than something that sold 36 months ago, three years ago. So definitely, this is kind of under the apples, the apples is what I was kind of talking here, Dan, correct? Um, but the, the last thing, guys, not the last thing, but one thing that a lot of people struggle, like keep the end buyers in mind. Like it is, it sounds simple, but when you're comping a piece of land, and like your, if your quality, quality, quality of land is defected or something like that, think about who is going to actually buy your land. There's no road to your land, and there's legal access, um, but there's no physical road to your land. It's going to be very difficult to sell. Um, if there's a gate and you don't know how to get in the gate, and you have to go back there, like it's difficult to sell. Always. And so many people, and that's what I've been asking a lot of our members last six months, Dan, with defected land, is like, who is going to buy your land? And a lot of the times, the solution is not necessarily throw the deal out, it's negotiate and getting the property a little cheaper.
Yeah, exactly. I like that a lot. Um, so for sale versus sold comps. And again, this is so after this, I believe, after this slide, yeah, after this slide, we're going to go all through deals. Like I want to, I think this is a hands-on topic for sure. But I just wanted to kind of give you guys the basis. You guys can go back on YouTube, rewatch all of this stuff. So sold is obviously what is recently sold. The most recent is the most valuable if it is an apple to apple comp, and it gives a good indicator of what you can sell for. So if you have a five-acre property and you're buying it for $20,000, you see a bunch of comps, sold comps for $40,000, $45,000, that's a pretty good indicator that you're going to be able to sell for 44, $44,500. And then on the for sale side, this is what you are competing with. It is a very, very key thing. It is, if you're, again, let's say you're buying five acres, and there's five five-acre properties on the market listed for 38, 39, $42,000, you need to undercut those properties typically, Dan, to sell fast. So many people try to like just look at sold comps, and there's $42,000 sold comps, five acres, but then they don't look at for sale, and there's things they're competing with directly. Who is that buyer going to call? They're going to call the property that is for, they're going to call the cheaper property first, without a doubt. So them being at $38,000 and you trying to push the market at 40, your property is going to sit, and then you're probably going to end up, it's going to cost you money in the long run.
Yeah, and when you want to push the market is when it looks like a very desirable area, the sold comps are selling very fast, and there's not a lot of competition for sale. And then there's a big question mark, like, what can I actually sell this at? Because nothing's really telling you that you can't push the market. That's when you can test that out. When you have direct competition sitting close to you, same acreage, similar land, and you're priced, you know, 10% 20% higher, they're going to go to that other property before they look at yours.
Yeah, exactly. Um, so this can also, if things are sitting, like I said, there's five-acre comps sold that's sold for $45,000, and then you see $40,000 for sale, three, four of these properties for sale, that can be an indication, like I'm saying here, that can be an indication that the market is going down. And you will see that in areas like every market. People try to talk to market as a whole, like our market's going up, our market's going down. Each market is a market. Yeah. Um, and this can tell you that a market is changing for the better or for the worse. Um, so keep that in mind as well. For sale, I think probably when we're comping things out, then we probably don't use it enough when we're, like, giving demonstrations and stuff. I don't really want to use it today when we're going through these, um, but I think for sale is underused without a doubt. It is underused in land, but it's, um, but people from houses use it a lot. And that's why, like, if you guys are coming from real estate and houses, that's what you're looking at for sale a lot of times. For land, a lot of, probably 70 to 80% of the properties are overpriced, drawn, that are listed on the market for land. And the clear difference is, you know, when people own land, they don't live there, so they don't need to sell it. A lot of people own it, they've owned it for a long time, they put it on the market, they don't care if they sell it or not, so they push the market to see if anyone bites. Houses, when someone sells, they usually need to go buy another house or have another place to live, and they're on a timeline, and they're paying a huge tax bill. Land, PE, some a lot of people on the market aren't incentivized to sell quickly because they've owned it so long, the taxes are minimal, and it's very easy for them to hold. They don't live, they, they don't need to move. So that's a very clear difference I want to point out too.
Exactly. I want to get through a couple questions real fast. Um, are larger parcels ever worth more per acre? Not if it's apples to apples. Like, if it is a comparable, if you have a five-acre property right by a 15-acre property and they're the same quality of land, the five-acre property is gonna sell for more price per acre, every single time.
Yeah. Um, what, what about flood zone properties? Because of close proximity to river. No comps in an area. We have one listed. That's a really good question. Cuz those with those specific properties, you need a broker's opinion. The second option is if it's too risky, and there you can't find anything, and no brokers really giving you an accurate answer, or you just can't get a hold of one to look at it and give you the information, that's also time. These higher risk properties for a double close. So you're not, yeah, very hard. But I, when we were just talking about for sale, and this is the county we're gonna actually go in, Dan, for our first deal. What Daniel was just talking about with properties for sale and like people, if you're using this as things that are sitting on the market, it's probably not good. So if you go in here, and what I do, what we literally do, is look at what is going on in terms of how much interest is going on. And this is the last 30 days on Zillow. Yeah, only 40 people have looked at it in the last 30 days opposed to this prop. This is five for 50 acres, 8.6 for $45,000. This property has 229 saves in 13 days, versus the other one that was getting literally like a view per day. This one's priced to sell, opposed to the other one is just sitting on the market. This is not a comp. This is telling me this is overpriced.
Yeah, and it's hard to see that bottom one because our faces are over. But it is, it's five acres for $50,000 versus eight for $45,000. So like Ron's saying, the price. And we did one on selling a property fast, seller day, a YouTube live. You can go back and watch that. But what Ron's saying is the, the traffic on the eight for $45, right? If you're comping this out and you see there's an eight acres for $45,000, and then there's five for $50, which one do you take into account? You take the eight for $45, as long as there's nothing wrong with the property.
Exactly. That's a good, uh, comment, Dane. I, I'll get to that in a second. All right, let's get to our first deal. We're going to come, and that's like I said, that's the county we're going to be in. Uh, we're in Twiggs County, Georgia, and we have, I think it's gonna be five acres. I'll pull it up on the L portal. I think we have a L portal link in the description. If not, someone asked about this too. They said, is it similar to id.land? It's a data software, so you can export data. It's come a long way these last six months or so. It's really, really solid. It's, it's, uh, data and mapping as well. So yes, it can take the place of that. We put all the mapping features in there that you need as well. But, um, if you guys are enjoying what you're seeing, and you guys are liking this topic, we do this every week at 5:30. A new topic. Please like. We really, really appreciate if you like and subscribe to our channel. There's a subscribe button down there. You'll get notified when these happen. Make sure you subscribe if you like what Ron's getting into.
Exactly. On the L portal, you can pull data in bulk. So if you want to mail a, uh, Twiggs County, Georgia, five to 100 acres, something like that, you can pull all the data. You can also search individual properties and review the property for its attributes and what's going on with it. So here we have, you can see here, we have 5.11 acres. We're in Twiggs County, Georgia. Um, I'm gonna pull up, and I just want to see the quality of land. Now, that's the most, not the most important thing, but that's the first thing that I want to see is quality of land. And from, from everything I can see, Dan, off the bat, um, this is our first property we're reviewing. There's not many defects here, obviously. And what's the size? This is five acres. Okay. So pretty much, I mean, pretty much a perfect five-acre piece of land. It's, it's very flat. There's nothing really going on. And going over these, I know my face is in the way, guys. I'm trying to, let me see if I can get this out. Give me a second.
Yeah, so what Ron, what's Ron saying? There's other, um, there's a bunch of different, what do you call these overlays that you can use to, that's not it. They're showed in the studio. Overlays you can use to help dictate if you have good quality land or not on the land portal. There's FEMA flood zone, there's wetlands, there's contour lines, there's a 3D map button, there's, uh, what else is there on, on there? Soil overlays, um, water features. Yeah, the soil is new as well. We have a landlock button coming this week, so you're going to be able to tell in filter by landlocked properties. Um, so this is just how you, how you determine first look, first glance, if a property's land is good or not. This is just determining if a property is good land or bad land.
Yeah, I kind of figured out the face thing. Um, but, uh, you have other filters down here in this bottom right. We have flood plane, wetlands, water features, soil type, uh, contour lines. You guys can see, um, but going here, like we have a five-acre property. So the land's good. So we know that when we're comping this out, the land's good. The next thing we want to look at is where is the land relative? So when we are looking at comps on Zillow, we have relative comps in the right area. So we're in Twiggs County, Georgia, and we're on this northern part of Twiggs County, Georgia. You can see the difference. Once you get like down here, it's going to be much more rural. So like looking at comps in this northern section, close to Mak, Warner Robbins down here, you have an Air Force Base right here, which does increase the price. Down here, but I really want to focus on comps in this northern region. And then like we said, at the very, very beginning, if we need to, we can expand range. And you can see we're already in this county. You can see a lot of these cheaper comps are down south. So I'm very interested. Again, this is under contract for $117,000, I believe, right? $177,000 buy price. So we need to see, I mean, we're just trying to really find out what the sale price is, Dan, opposed to if this deal makes sense, right?
Yeah, this is comping land. Let's just figure out what it's going to sell for. And then depending your financial situation, your investor situation, uh, you can get the money accordingly. So this is a direct comp. So we're, let's look at for sale first. Um, so like we saw this 8.6 acre. This is very, very similar land from everything I can see. It's a similar location, but it's just bigger. Um, so I mean, just from a calculator perspective, 8.6 acres, $45,000. That's what is that? $5,000 an acre, a little more than $5,000 an acre. So I mean, if, and again, that's probably going to be cheaper than ours. Will probably get more per acre because we have less land. Um, but that's only $25,000 at $5,000 an acre for our five acres. I do want to go to sold comps. Is there, are there any other for sale comps? Like we do have this five for 31. Tax amount is for the total. And you also got to be careful with defected land. I don't know what's going on with the piece. It's not great marketing for sure, Dan. No drone pictures. That's another thing to take into consideration is when these listings are really bad, poor listing, satellite screenshots, um, sometimes realtors don't answer the phone. That's when you, when you have a concerning comp that you're going eye to eye, again, you want to dig into it a little bit.
Yeah, so this is 30 grand. This is a little concern. I do want to see what the sold comps look like for sure. Hey, Jose, welcome. Um, okay, so now we actually have some comps, Dan. These are really, really close to us. So again, location is not necessarily the very first thing, but I want to see how close that is. I think these are okay. So those are down here, right off a Highway 16. We're up closer to 80, fairly close though, for sure. We're like right here. These two, two are close. I've done deals up here. So seven points. This was ours too. This property had defect. What'd you say? Yeah, it was kind of a weird shape. This is old too. I mean, we sold this really, really. That's not right. This, this is, ignore this part. Um, but listed, we sold this in a month. Um, and that's a relatively old comp. But I'm seeing some more. I, I think we're in a decent area here, Dan. Like these down here, this was ours too, actually, and this was a really, really bad land. That's just knowing the inside there. But what, what would that tell us? $33,000. And it's so, why is that? This one's a very good comp, and this is relatively close. It's very similar land to us. And the best thing is it's May 29th. Right now, the, this property sold on March 20th. So this is a very, very recent comp. And, and nothing numbers are looking weird though, Dan. You see this, uh, no listed pending sold sold this. So I think it might have sold for 26, honestly.
Yeah. So, um, is there anything for sale in our vicinity, Ron? Like right there? I mean, we had that eight, that 8-acre one was probably, it's not even that close here. 14. Let's see what's going on with this. This is obviously a lot more land. Wow. This is getting a ton of interest. And that's how much? $64,000 for 14? Yeah, so that's a little under $5 an acre. But obviously a lot more land. And if we're $5 an acre, that puts us, we're just $25,000. I would be, I, I would probably say 27 to 29. The good thing here, guys, what we got from this property is there's very little competition. Like there's only, there's really no competition. Like you're competition is a 15-acre property, which really isn't. You have this 8-acre property, but it's a little more down. Will it be competition? Probably a little bit, but I really think I think you can push this a little bit down. I think it would be like 28 to 30 is my kind of guess.
Yeah, I think so too, especially with little competition right there. I'm curious, guys, after everything we just looked through, uh, yes or no question for you guys. Answer in the chat. Would you guys, uh, buy this deal? So we're buying it for $177,000. Just ask them what they think it will sell for. Yeah, what do you think it would sell for? And would you buy it at 17? Would you make this deal work? Um, so obviously some margin there. Yeah, I'm, I'm curious on people's opinion because everyone has different buy boxes and everything. 120 people in here. Let's get 120 responses. $177,000 buy price. Would you guys buy this at $177,000? Does it make sense? Um, again, I said my opinion, 28 to 30, just looking at the comps from what we know. Would you buy? Keep in mind, we have good land. This is a land, like a a property. Um, so the, I think the risk is fairly low in my opinion. Yeah, it's not like if this had maybe like a slope or a little wetlands in the front that you were concerned to get over, it changes things big time. But this land was nice, very nice land. No concerns on that. Quick. It's quick flip. Yep. Quick flip, exactly.
Let's give it a second. Let me look through if there's any questions. Um, Dane said, always good to check pending. By, um, always good to check pending and under contract and accepting back offers. That's a good point. So on here, I actually rarely do this, honestly. On Zillow, you can. Yeah, that's a good idea. On Zillow, you can mark pending. That just came up. Uh, oh, let's see what our five for 37. This is big. This is pending. Let's see what I've actually never. I've done this when I've looked at houses. I've really thought about it. That's crazy that we've never thought about this. The weird thing here, Dane, is like, this is pulling up a different MLS number, which is, it's also pulling up a different source. Would this be a bad comp? I assume, Dane, if it's a different MLS, it's connected on the street. Is it zero address? I assume it's just connected to something. Something's off there. 220. That's weird. You could go on the MLS. That's a good one. If I was buying this, I would dig into that comp big time because that was listed for 37. Uh, maybe can you call realtors and ask him what it sold for or what it's pending for? I don't. Is that a thing? Who's a realtor? Dane is a realtor. Dane, can you do that? Probably not. I'd assume that's because it hasn't closed yet, and then that gives information to people who want to buy it too. Let us know, guys, what do you think appears makes sense from the comps to you've shown? 17K. 35 list. Adam, thanks. Adam K. Adam just flipped 70 grand into 130. 130. Adam, you just got your wire today, right? $50,000 profit in a week in a month. Adam's on it though. He's in here. He's answering these questions. Adam's been the most consistent the last. When did you join, Adam? Uh, three, six, five, three months ago, five months ago, I can't remember. Sell for, sell for 27 all day long. Like I think you can sell it. Some people are saying 30, 28. Let us know.
Do we have time for another one, day? What time we got? Oh, we got five minutes. Let's just rip through one real quick, guys. Make sure if you guys are enjoying this, we got 120 people in here. Hit the like, hit the subscribe button. Make sure you're subscribed. We do this every week. We try to bring as much value as possible. If you guys have recommendations for next topics, um, we've done due diligence, we've done market selection, we've done, uh, listing properties for sale and selling them fast. We've done do different topics. So let us know what topics you guys suggest. We don't have anything on the on on the docket right now for next week. We'll keep you guys updated unless someone has a good topic here that they have an idea for. But let's rip through one. Like, like Mike asked a really good question while you pull that up. So well, how many sold properties in that area within the last few months influence buying that land? So he's saying, if there's no sold comps in that area, is that concerning? That's only concerning, Mike, if there's a lot of for sale properties that are just selling because it's all based what sells is all based on inventory. You can't sell if there's no inventory. So it can look like a slow market from the sold perspective, but really there's just nothing listed for sale. Everything listed that's posted properly at the right price seems to be going fairly quick. That's why I don't mind that property. Good point. But that's a really good question. If there's a ton of for sale, Mike, to your point, like absolutely ton of for sale, five acres listed for 30 grand right where we're going to go in, and they're just sitting there, then absolutely that would completely change because now we got to go undercut it, um, and figure out why these aren't selling. Great question.
All right, we're going to Newberry County, South Carolina. We have two acres. Uh, little more of an info type lot, some weird stuff going on over here. Um, but let's pull up our information here. Like Dan said, we have three minutes now, so we're going to rip this. The L portal, if you guys are interested in this service, the link is in the, uh, 14-day free trial. It's completely free. Try it out. Takes place at id.land and your data source. It's come a long way. So that link is in the bottom there. I love free trials. Like any free trial, Dan, I try. Like something like this for you guys to be able to try it out for free for 14 days, um, definitely try it out, guys. You guys can cancel anytime. Um, and that's $15 a month for all this after the fact. So wetlands, water features, flood plane, contour lines. I have up right now. The only thing that came up is water features right here. This land just looks weird down here, guys. You guys can see the satellite spot. There are a couple different overlays. So I'm going to actually switch the satellite view to see if anything looks odd. This, this other view just looks a little weird to me. Like wet right here. Maybe that's a shadow? No, I think it's a shadow. I think this is good land. Let's act as this good land because we only have a few minutes and let's get into Zillow and start comping. We got two minutes here left, guys. You guys have last minute questions to get them in. Northeast two acres directly northeast of, uh, Newberry. And, and we had a due diligence one that, uh, goes over actually looking deeper into that land, guys. We have that on our YouTube channel. Go check that out as well, where we actually dive in deeper to figure out if that's good land or not. For the sake of this call, comping land, we're going to get to comping. We is $7,500 buy price here. First, I'm going to look at for sale. What we're comping, uh, competing with. Two-acre properties are five-acre, six-acre properties. Are not competing with two-acre properties. Some people try to use those. It's not competing. So when you have a two-acre property, you're looking at 1.5 to like 3.1, maybe, maybe not even that high. Um, and you, that, those are really the comp range you want to be in. And that's what's going to help you kind of determine yours. For sale, really nothing that's competing with us. A bunch of overpriced things. Uh, sold. Try to remove outliers as far as like, don't, don't get too into these outliers. These ones with Google Earth images are not going to be good comps here. I'm trying to find a solid comp. Here's one for 20 acres or $20,000. And there is not much. Dan, what's ours? This is one of those situations, Ron. We're two acres for $7,500. And I don't see a comp. This might be one where you have to like, the, the price feels really good to me just based on the area. Um, I do think this is a legitimate comp though, here, Dan. Like we can't just ignore one for $20,000 because this is a real comp. With fuse a golf club, this might be a better area. I don't think it's like an HOA, but this sold very, very fast. This is a very intriguing comp because we have it at such a good price. I would guess the two acres is gonna pro, I would have a hard time saying the two acres is gonna sell for much more than this, honestly. Um, I feel like this is a better area, but that being said, I mean, everything based on how good the price is, it makes sense. What's the price again? $7,500. 7500. So would you guys buy this deal if saying it's, we'd obviously look into it a little more. $7,500 purchase price, sell for about 20. County, South Carolina, two acres. Yeah. And just assume the land is good with that. S. Do you guys do deals like that? 7500, sell for 20,000? Yep. Let us know in the comments, guys. We are going to end it here in a minute. Let us know real quick, and then we're going to head out of here. If you guys have not already, hit the subscribe button. We have YouTube videos come out Monday, Thursday, and Friday. Um, and then a bunch of shorter content on there as well. Again, 5:30 PM every Wednesday. We're live on here with different topics.
Yeah, Camille would buy. Bye-bye. This is no-brainer. If the land. We got some NOS. 20K. Yes. Why no? GMFs too, too small profit for him. He's going after $100,000 deals. I don't mind that. If it was my company, I, I would probably give it to someone for a little fee or something. But those are small, such little money in. But, uh, once you're, once you go through title and everything, it's not as much money. But, uh, yeah, attack those bigger deals too. But for people new starting out, who like those $10,000 profit deals, which I am huge on, and I, I think you should too, to get out of your job, to get you your financial freedom, it's a good deal for that. No agent. No agent. Definitely no agent. No agent. Don't do an agent on. You could sell us on. I, I could sell us on Facebook tomorrow for 15 grand. Um, no problem. But other than that, guys, if you guys have not already, like this video, hit subscribe button. We're going to end it there. Um, if you guys have suggestions for next week's topic, we don't have one right now, but we will be on here 5:30 PM next week. Other than that.