Transcription
All right. Hey guys, happy Thursday. Um, so I got some leads that I want to just comp live real quick. So, I get a lot of people asking me like, "How do I comp deal? How do they how do I specifically comp deal?" There's a thousand different ways. Um, and I'm going to just show you three simple ways right now, like whether you have no tools, whether you have tools, or whatever the case may be.
So, I'm going to just pop on here. Figure we'll show them real quick. Um, we'll comp these deals. These are actual like legit leads, legit deals. So, I'm actually going to be calling these sellers tonight on on um our sales call. So, what I'm going to do now is I'm going to just pull up a few of these leads. These are real legit people, like real legit leads. So, just bear in mind if anybody steals anything, well, you're kind of a dick, but I don't think anybody's going to do that, right?
So, here we are. So, what I'm going to do is I'm going to show you the first way. I'm going to show you the second way. And then I'll tell you the third way. All right, let me just share my screen. Guys, I want you to ask questions on the side, too. Like, please ask away. Let me show me everything. Ask me everything.
So, all right, we're going to start here. Land Insights. Um, what's fantastic about Land Insights is we now also have, um, our comping tool. We have everything built in, which is awesome and it really does help. It works fantastic. Um, I'll show you that. And then what I'm going to show you first is I'm going to show you the Redfin way. And basically we're just going to go through that and then I'll show you the last way.
So first one I got is let me pull this baby up. Okay. So I got a nice lot here. This is in Okay, let's pull this one up. We're going to go to data platform map. Parcel ID. We're going to put in the county. This is Rowan, Rowan County, North Carolina. All right. Parcel number three. Okay. So, let me just APN right here. There she is. Okay. All right.
So, here's my lot. So, couple different ways. AI comp value has this at 169. Now, we didn't actually go through the actual comping of this yet. That's just like your quick estimate. That's like not deselecting comps, all that stuff. So, I'm looking at the slot. First thing I want to look at, hey, Sabrina. Sabrina, if you want to come on, just text me. I'll send you the link if you can. If you can't, that's also okay. Um, so I'm looking at this lot real quick. All right.
So, I got something right here. There's something next door. It looks like commercial, some kind of silo, something like that. That kind of degrades the value a little bit. Um, I do notice they have an access right here. I don't see right here. We have this road right here. I don't know if this grants us access. So, you see the thing is is yes, this property's on a highway, but nuclear launch site. Hey, you never know. Um, this property's on a highway. So, access technically is there. It's just like, is it allowed? Is it legal to pull off this highway onto this parcel? Most times it's not. So, you got to look into that. That's part of like doing deed research, looking into this. Um, right now this is saying it's landlocked. I don't necessarily believe that cuz it technically is not landlocked. Um, it's just not an ideal access point. Overall, the lot looks level, looks flat. I do like it. I do have another It looks like a creek, a nice little creek back here. So, you're going to get some really nice wildlife on this parcel itself. Um, this lot across the street sold for 26K. Okay. An acre. Sorry.
So, real quick, what we're going to do is we're going to take, first things, the easiest way to do this, like if you're doing it for free, I just need to look this up. Get the parcel number. Find a local address that you could do this with land ID, you could use land insights, you could do whatever you want. Don't a bunch of neighbor properties have roads tapping into the highway. Yes, they do. So, 100% you're right. Roads tapping into the highways. Roads tapping into the highway. Whatever. So, yes, it's probably common and it's probably fine. Now, you just got to make sure and verify that it's granted, right? It's not It also I don't know this highway, right? I'm not from here. So, a local area opinion, somebody who's a local agent in the area is going to give me the best idea of really truly how to access this. If you look right here, it's hard to tell. Let's do this, but let's go here. How do you verify calling the county? You got to verify different things with that. Make sure it has access. Um, you're getting people on the ground to actually look at the parcel. Those are like the best ways to really do it.
So, let's do this real quick. So, I grab the local address. I'm going to drop this in here. What's that? That's that's just going to bring me to somewhere local, right? Brings me right here. for my parcel's right next door. Home type land. So, all I'm going to do is just click home type land. Done. Filters sold. Choose lot size. How big was this baby? Sugar pie. Honey bun. Sugar pie. 22 acres. So, let's go here. I'm going to set a parameter 5 to 40 because I want to see above it. I want to see below it. See 26 homes. Okay.
Now, one thing I will say, if once you start getting to know land, you start getting to know different things. If you understand it, you'll start seeing you'll start knowing more things about certain prop certain areas. Now, Rowan County typically does not perk. Um, there's a lot of issues with perk testing in the area. I'm not quite sure exactly why, but for some odd reason, this area does not perk a lot. So definitely part of my conditions of purchasing this property if it is a deal is we're going to have to verify with a perk test that it perks. Um I'm also going to look back three years only in this area because I know this county and prices don't fluctuate as much in this area. So what I'll do here I'm going to look at a few things. Right? So I want to look at this. Let's check this out. This one if you look it's an easement property. It's got a trailer on it. 29 acres sold in July 23 for 234. That's that's a pretty good like jump off point. First of all, easement type properties, but look at this road access. This is trash, right? This is all my listing photos. I would be so pissed if I that were me. I really would be because I think that's absolute garbage. Um, you definitely don't want to have a parcel that looks like that. So, or pictures like that when you when do we have what do you what do we look at?
So bad topography is also going to be area dignified, right? So if you're in a specific area and everything has high topography, that doesn't mean it's bad topography. It's just like if you're in an area where it has like everything's flat and then you have the one parcel that the road from the road it just completely drops off and you can't access it. Well, that's bad topography, right? So, something like that, that's something that you would want to watch out for. It's it's area conditional, right? Look at this lot for instance, right? This was an easement type property that's still sold. Look at how long the easement is. Tons of water, all that stuff. And it still sold for a pretty premium price if you ask me. Um, and here's the best part. Look how fast it sold. It went pending in 12 days. This is fantastic. So, right here, that tells me, okay, there's some legs on this deal. Okay. Um, there's definitely something good going on.
Now, that that right there, that was one property. So, let's look over here. This is 115K, 5 acres, 115K. So, we're at 23K an acre. Let's see. This was sold contingent January 1st contingent two days. Okay. So, there's lots of activity here. Telling you. So, I like this already. This is a different type of lot. Obviously, this is like crops and stuff like that. So, it's definitely different. Um, probably mostly trees long blah blah blah plenty building ornaminiums restricted. Okay. Our vision is small mini farms for your escape. Use scholarship when pulling off the road. Watch for traffic. Okay. So it looks like this might be a very similar type parcel where it's like on a main road. Yeah. So looks like a busy road. Okay. Okay.
Now, one thing I want to look at, too. So, you know, we talked about this is our parcel right here. This is the area that we're in, right? Uh right here. Pretty sure. Yeah, I think it's right here. So, what I want to look at too, I want to look at let's look at the for sales. See if anything's for sale right now in this immediate area. When you're comping a deal, it's proximity and likeness, right? Those are the two main things. Is it close by and is it the same type of property? It's very simple like that. That's really the only two parameters you need to look at. Proximity and likeness. Are they the same type? And is it close? I'm not going to look at a comp, you know, 20 miles away because it looks like my parcel, right? I'm gonna go with what's the closest comp that looks similar. Not exactly alike, similar. Like if you're buying a house, you want to comp a three-bedroom, two bath with other threebedroom, two baths, right? You want to cop a three-bedroom, two bath on one side of town with a three-bedroom, two bath on the other side of town. No, you would go, okay, this is a 32, but I have a 42, fourbedroom, two bath that sold for x amount of dollars, right? A little bit more, let's just say. So, guess what? I'm going to probably just say, okay, this sold for 400. My lot, my part, my house is probably worth like 350, 375 because it's lacking one bedroom, but everything else is pretty much the same. That's kind of the same thing with land. You're going to look at this and you're going to say, well, I have a 22 acre. This is a 17 acre. Okay. Well, that's similar in size. Um, one has trees on it, the other one is completely clearcut and pasture land. That's not like kind properties. One has trees on it, the other one's clearcut. Okay. Well, your property has trees on it. Well, it has more value than a clear-cut property. But there's a big difference between clearcut and pasture land. Something that's developed and used for farming. That's completely different. Um, yeah, assuming size is within 15 to 20% too as the first starting board. Yes, 15 to 20% you want to go with. I mean, I mean, I really look at ranges like I'll use like a 15 acre for 22 acre, something like that. um because you're really just looking for a price per acre. And then if you know your decay rate, so like when you're looking at um when you're pricing out your markets, you should know basically 10 acres sell for this, 15 acres sell for this, 20 acres sell for this, 25 acres sell for this, 30 acres sell for this. So, if you see, okay, I was saying, you know, 15 acres are selling for 15K an acre and then the 20 acres are selling for 13K an acre and you confirm with your comps that in the immediate area, yeah, they're selling for 15K an acre. Well, then you could assume that 13K an acre is probably going to be right for a 20 acre parcel. If you were right on the 15, you're probably right on the 20s. So, that's that's kind of you look at your decay rate and how it goes down.
Um, okay. Okay, so this is a similar smaller property, 5 acres versus 22, but this is cleared. Obviously, ours has trees on it, so this one's a cleared parcel. Um, definitely not the same type, but you know, it gets the job done. [snorts] Been on for a really long time, which begs the question, why there's probably something wrong with it, right? More than likely, maybe it doesn't work. Oh, 7acre track subdivision. Okay, that's good. Okay, so this is actually part of um another lot we just looked at, too. Uh another lot that just recently sold over here. So, we'll zoom out more. I got a this guy right here. This is 315 easement type lot, 15 acres, 315. It's for sale. It's been on the market for 202 days, so long time. Property is currently leased by a farmer. We kind of has no specific records. Uh potential subdivision may be possible. So definitely not a subdividable property. And the reason why is because it's off an easement road. So something like this. I mean, you could put a gravel road in. There's a lot of potential technically, but they're asking way too much. They're asking the price that would be fit for something that is developed, ready to go. I'd say this is off way too high. So, it's not going to sell for a long time. This one right here, 15 acre lot. Uh 56 days on the market, 11,000 an acre type of lot. Let's look at this. So, this is an awkward shaped lot. This is an irregular lot with a [clears throat] easement for power lines. So, it's got a power line easement, all that stuff. So, a lot of negatives on this property, honestly. Um, which is probably one of the reasons why it's priced lower than the rest and also why it's not moving. So, bunch of negatives. Workable area, construction bar, blah blah blah, livestock fence, 100-year flood plane, acreage, rear tracks in 100-year flood plane, and it's got the overhead transmission lines. Okay, so there's a lot of negatives. That's the reason why this one's not moving. Let's check over here. big parcel. So, it looks like they cleared it. A lot of it. Big chunk of it at least. Terrible pictures and everything like that. I mean, no wonder it's not selling. Guys, this is our competition, by the way. This is like when you look at this stuff, you're like, really? This is the type of listings these people put up, and you wonder why they're not selling. Like, this is the reason why. I know nothing about this parcel. just by looking at the four pictures they put. Okay, it's got a small clearing. What the hell else does the rest of the lot look like? Give me some aerial views. It's a corner lot. This thing, honestly, I would chop this baby up if it was big enough. This is only 14 acres, so it's not worth it.
So, now one thing I want to look at too. Okay, so we know um let's go back here for sale. So, what I want to do now, here's this. What I want to do is this. I want to click in a few of these parcels. These are my immediate homes right next door. The reason why I'm looking for this, I want to look at the septic. Okay? I want to see if they have any kind of septic, what they say, all that stuff. Exterior full deck property information lot information level publicly maintained road water well sewer septic water heater information electric. Okay, so that's septic. Let's check this guy. Not everyone's going to have it. Only the ones that were sold in like recent time frames would have all this information because it pulls from past listings. So, you're not always going to get it. But, I mean, you could look up different things. You can whatever look it up on different sites as well and go deeper. I'm just trying to get some basic information just to see if it says anything. Okay. public facts 95. Okay, nothing there. Let's also look at some other contracts. Nothing. Let's go look sold the last year. Let's just look at the five years. See if any of these houses have sold. >> [clears throat] >> So, not really any of them have sold on the highway right here in the past 5 years. The reason why I'm looking at that, I want to see anything that's got information about the house specifically, so I would know a little bit more about it. That's pretty much it. Okay. All right. Doesn't really tell me much. All right. Let's do one more thing. Let's pull this Okay.
So, I just want to look at this Carolina Malt House. What is the Carolina Malt House? Is that a brewery? Well, that's pretty cool. Pretty cool. So, there's a malt house right next door. All right. So, we're going to look at this. I want to drop this guy. So, what I'm looking for now, I just want to see if I see anything about driveway easements, roads, pulloffs, anything like that. So, obviously, I can't use I can't use this. Looks like there's private property posting, stuff like that. So, I'm not using their driveway to get on my property. I could tell that right away. Nothing here. I'm just looking right now. Is there any access road, easements, anything like that that I see. Doesn't look like this is a high-speed highway, so it's pretty going to be pretty easy to do a little turnoff right into here. I'm not too worried about that anymore, actually. Um, I'm sure it's fine. You got a transformer, right? So, you got transformer, power lines, things like that right here. So, that's always good to see. I don't inherently see anything negative. I see some old fencing. Looks like there was a old drop or something. I'm looking right here. I want to see the nearest transformer. So, I got one over here. Okay. So, getting power to the house is going to be, you know, if we end up, this is something that somebody ever wants to build on. I got a transformer right here, which means tapping off that for um a meter is going to be super easy. So, I'm just cruising down this road. I just want to look at all the parcels around. I want to see. So, I've had a parcel like this where it had a guardrail in front of it, and what I [clears throat] had to do is get a county approval to knock the guardrail down, cut a trunk of it out, and build an easement road into my property. Um, that was a real pain in the ass. So, you can see this guy's got an easement road right here. Really nothing substantial. Looks like a an abandoned house to be honest with you. Wow. So it looks like they gave up. Um so I'm not worried actually about the access. I think I could probably do it. You could definitely slow down, pull off and make it make it happen. So that's good news. We got a more down here. So that's good. So I think we're actually in a good spot as far as that goes. So, access is good. Uh, okay, cool. So, let's go back to this. We've looked at that. I want to look again real quick. Here's the parcel. Um, oops. Let me just go back. Let's go back here. Okay.
So, let's go here. Let's go solds. Let's look back again in the last three years. Done. Filter. Sold. Land. Last three years. 5 to 4 AC. All right. So, I'm really pegging this somewhere in this realm. I'm going to use what was this size? This is a 15 acre lot off market. I'm going to say this lot probably does not perk. And that's really probably what happened with this one. Um, water, sew or none. So, that one didn't perk most likely. [clears throat] All right. This isn't our ideal lot, but I'm going to take it into account. So, this one right here, we sold for 234 around 11K an acre. So, I'm pegging this one. Probably close to that realm, too. Probably 11K an acre. Maybe maybe a little bit more because you do have good road access. So, I'd actually peg it for a little bit higher. Uh I wanted to actually Let me look back at this. So, we have this house. And then what is this? That's that road I was talking about. Okay. So, cool. You actually more than likely, this is something when we do a deed search we'd be able to look into. But that is our parcel right here. This is part of our parcel right over here where these power lines are. So, see right here, this is the road and this is our parcel. So, I actually think we're pretty much in a good spot there that we'd be able to get access to our property based off this. Cut right through and we're there, right? Not guaranteeing it, but I'm not not saying it's not right, which is pretty cool. You can see here. I can't really see in, but it looks like that affords us property. Okay, cool. So, I'm going to say we're close to 11K an acre. That's that's what I'm I'm getting at. Um 11K an acre. Now, that would put me somewhere in around the 225 rangeish. Yeah, about that. 225ish range. So, I think we originally offered too high on this parcel. So, I'll have to look at that. Um, so we definitely have to get this lower. Now, I think realistically 225, if that's our exit price, we could probably do something like 225. 225 1 2 3 times 7. probably be at like 157 on a double close and probably 112 on a um on a cash.
Now, let's go in here. Let's look at this. I want to comp this property. All right. So, So, let's see. Done market. Let's add what I'm going to do is sort these by distance first. I want to make sure I'm going to get the closest one first. So, complink 27 acres. Now, my only thing is I'm pretty sure this lot is quite far from my parcel. this bridge fill color. So, let's change this a little bit. Let's adjust these parameters. Let's do 10. >> [snorts] >> Okay. So, let's take a look at these. So, within the five mile radius and let's back the comps up two years. I'm going back two years for a couple reasons. One, market hasn't really changed that much. Uh, or do we do we have to call one? You could call zoning. It's not a bad idea. Um, I I it's kind of what you're planning on doing with it, but I think calling zoning does help. So, I wouldn't be opposed to calling zoning. Um, finding out more about the parcel, figuring out which count. Yes, absolutely. So, let's do this. Let's add some comps. These are Let's check this one. Not a lot of info. Okay, let's add this. Let's add this guy. I'm not going to add that. Not going to add that. These are all low. I'm kind of cherry picking here. I'm trying to see cuz I know it's not worth 1,200 an acre, 2,000 an acre. You know what I mean? So, like that's just driving the cost low. Let's look at this one. All right. So, that's 263 based on the ones I selected. About 11K an acre. Pretty much what I I pegged it at. Um, let's see where my selected comps are. All right. So, they're all lower right here. We got this 39 acre. Yeah. So, I think 11K an acre, honestly, is probably right right about where we need to be for this one. So, I think 11K an acre is worth it. So, that's method one is I went through Redfin and did all this. I looked at all my comps, I looked at houses, I looked at all kinds of things, right? Tried to find out as much information. I'm going to look through here, Google Maps, all that stuff, right? So, that's one.
My second method is I like to go and use land insights. So I'll take a look at land insights. I'll look at their comping tool and all that stuff and um and yeah, so I'll do all that and I'll check out, you know, what does landed sites see when it's pulling its data, right? So took a look at that. I look at what its basis is and then I look at like some cherrypicked comps, right? And I'll look at both of them. And then my last method is well, I call an agent. That's really it. I call local agent that I trust and know and I'll ask them questions. Hey, tell me a little bit about this parcel. Tell me more about X, Y, and Z. Why why is this worth what it is? Right? They'll go out, they'll drive it, they'll look at it, all that stuff. Now, for me right now, I'm not going to be doing that because my question is right now, we offered this seller 225. I'm already know I'm way high. So, I have to get a price reduction, right? So step one is me calling the seller seeing if I get in the ballpark, right? And the ballpark could mean the ballpark could mean, you know, can I get it down to 7K an acre or can I get it down to 5K an acre, right? If he's like adamant about it's 225. Well, it's just not a deal, right? Unless I entertain something and I tell the seller like, "Look, let me do this. Let me get my local boots on the ground to take a look at the property. We'll walk it. Let me see what I can come back with." They say, "Okay, yeah, this is good. You know, it's a nice lot, everything like that." And they'll tell me,, you know, give me a price, then great. Then I know kind of like where I'm at for a price. And then I could say from there, if they come in, they're like, "Yeah, you're totally worth 300K." Okay, great. Let's go 225. Let's push this for a DC. Get it listed. Boom. We're done.
Um, now if you don't know Land Insights, you could just go here and you could get a realtor. So, agent database, you grab a realtor from here, which is super easy. I could just look at all the top realtors in the area and they'll tell me like everything about it. Um, it works out great. So, you can do that.
So, let's do this. I have another one. So, that's Monroe. So, Monroe Okay. Okay. So, I got a guy. Hello. Jstone County. No, not JSON. No, not him. No, Mr. George. Okay. So, 14 lots, Nash County. So, let's go here. Let's go Nash. Nash County, North Carolina. I still comp just with Redfin. I just like it. It's easy. It's not hard. It doesn't take me a lot of time to do it, right? So, I just did that. [clears throat] Quickest thing I do is grab an area local comp. Boom. Grab it. Look at it and say, "Okay, let me see what these things are worth." [snorts] Now, this is a guy. He owns 15 lots. Say, "Give me a price." So, what I want to do, I'm not going to go ahead and comp every single deal because it's such a waste of time, right? If I sit here and comp all these parcels, well, it's going to be a ton of wasting time. So, instead, I'm going to come here. I'm going to say, "Hey, look, I like these three right here, right here. This one's nice, but this has a house on it, right? So, let's grab this guy. Cool. That didn't work. That's fantastic. Okay. So, we got that nearby homes. Okay. So, let's take a look. So, for some reason, it's funny because if you look at this, it's showing a house. You look at this, not showing a house. Um, so which begs to differ. Is there something going on with this parcel? Let me look at this. Maybe the house was torn down. Who knows? See, I don't see no house, Mr. George. So, I'm showing another line like a not like a actual property line, but I'm showing like a road right here. And then it looks like looks like this is all the parcel right here. So, there is something here. Let's see if there's any kind of Nope. I can't throw my guy there. I throw my guy anywhere. Okay, let's have him go right here. All right, so this one's being farmed. So, this one's going to go for more. It looks like there's that looks like a barn or something like that to me, not a house. So, that's why it's not coming up as a house. So, that's good. Um, okay, that house exists. That's good. So, let's do this. Let's drive down the road. And can we hook left? No. Yes. Yes, we can. No. Is that where we're going? Okay. So, we're going to go down Cornwallis and then there's house. Two partial. Three parcels. Cornwallis. Okay. Okay. Beautiful little parcel. Beautiful little parcel. Beautiful little parcel. Look at that. Okay. Cool. So, it looks like these are the little parcels right there. So, I'm interested in offering on those. So, I like these three right here. So APN this one. Okay. This one. So I like these. And I'll take this little guy, too. We probably won't want to sell this one because it's already Yeah, I'm not going to add that one. He's It's being worked right now, so I'm not going to bother adding that one. So, let's grab this guy. I'm going to grab He purchased this for 28K. So, I got to factor that in. If he purchased it for 28, does it say what he purchased these for? It doesn't say. Um, how long's he owned it or No, no. Out of zip. Okay. Family transfer. So, he did not buy that one. Okay. Let's take this. Let's throw this. Let's throw this in here. Let's go here. [screaming] So, looks like we got a little pull off in here. [clears throat] All right. Goes down and loops in. I think that kind of matches what I'm seeing on here. It's hard to tell, but I think that's kind of it. So, you got power right there. Got all that stuff. Okay. So, we got that. So, I like this parcel, too. All right. Now, let me see. I saw another one over yonder. So, this one is landlocked. So, I'm not really interested in this. There might be access like through one of these, you know, houses, but I doubt it. There's probably a reason why this was never developed, right? There's always a reason. Um, I'd be curious to find out what that reason was. But see how this guy, let's see, this guy owns Who's this? Different people. Ernestly Pierce Kathy Tanner owner Capstone Cl. All right. So, yeah, I don't really love this one. Same with this. Like anytime I see a parcel that's like kind of running behind a um a subdivision, I always question that. Like if that parcel was so good, why was it never developed, right? There's some probably something wrong with it. So, I'm not really too in love with these all these parcels right here. This one, too. This is like more of an industrial area. I don't know what's going on here. Not too keen on it, though. I don't really love this area. So, I'm not too keen on that parcel. Um, this one I'm down for. I like this guy. Reason why I like this guy is I want that. What I would do is cut this, subdivide that out. Boom. Keep that baby. Sell the land. So, I like this parcel. This is 19 acres. That's okay. These are all about what these What size are these? These were point8s and this was 2.6 2.6 acres.8 acres were they all point8. Yeah. Okay. Eight acres. Okay. So, let's do this. We're going to grab this guy. We got this already. We know this. This is Cornwallis. Okay. So, we're going to look at local homes right here. Land. Done. I want to go solds last year. Let's go last two years. No sizes. I'm not going to do any sizes because I want to see the smalls and the bigs. So, I'm really trying to look at stuff like whenever there's a big highway dividing parcels, that's pretty much my limiter, right? I don't really want to cross too far this way or that way. Preferably I'd like to be in this exact vicinity. Right? So that's going to give me my indicator of like what's what. So 34 acre lot in town blah blah blah sold for 18k. Then we got let me cross this. This is 08 acre. Okay. So I'm probably safe buy these for 15k a piece. Um, Doris, let's see up here. We got It's got plans ready to go. 39. Okay, I think 15 an acre. 15K for those. 88 acre ones is good. Okay, let's adjust my parameters. Okay, let's go. Two acres up. I have a lot. I got 150. I got 150. I got a 150. It's a sixacre lot. Well, how much did this sell for? 6 acres. 150 22 an acre. That's got a house. 55. All right. I like that. That's probably a decent comp, right? It's in a HOA, though. 25 an acre. So I'm offering 12 an acre. So you got So I'd say I'd like to be at 15K. 15K 15K. Um so this one right here, this sold 2955. I'd probably be at 20 22K actually probably 25K max for the 2.6 and then the 19 acre. Let's just go back. Let's look at some bigger parcels. [snorts] Parcels. Now, this bigger parcel is unique because it's got a tower on it, right? So, it's going to increase the value technically. It just depends. Is is he making money on it, right? So 82 acres, that's too much, too far. [gasps] [snorts] 13 acres for 11k an acre. Okay. All right.
Let's go back to land insights. So, let's check what it's got going on here. So, let's check AI comp value is 125. What is was it saying for these? That's saying 34 for these little guys. Okay. So, that's pretty much where I was at. That's 47. I was saying 50. So, that's about right. Okay. So this is saying 125 saying it's landlocked which is obviously not landlocked. You could see right here we have this road right here at Cornwallis which comes in through this easement comes right into this parcel which gives you access to this tower. Okay. So that is not landlocked very clearly. Now it is negative that you're right on this road off this highway right here. So that's kind of a negative. You got to turn off. Um that's not an ideal thing. So I like this. It's nice lot. Um 19 acres. I think 125 is probably the right price. So maybe a little bit more. What's it got for this one? 381 and it's 42 acres. So half the size. I'd say this is max 200k. So, I'd probably give a range for this one between 60 and 100 depending on tower, all that jazz. So, I'd go 60 to 100K. And that's pretty much it. So, that's probably what I would price these guys at. Now, if I got all these, you're talking about a 15K, 15K, that's 15, 30, 45K, 25K. Um, that's 50, that's 70, uh, 60, 60, plus another 100K. So, if you bought all these five lots, you're talking about 160,000 profit, all that. So, pretty good.
Um, is this all the due diligence to do before making an offer or getting it under contract? What do you think? What do you do during your inspection period? Yeah, absolutely. I'm not going to go too deep into these guys. Like, you're not going to want to go into this like crazy and like really dig too far deep into these parcels. How much time? This just took me 45 minutes to go through a couple parcels and just look at them, right? And I've been doing this and I know I'm talking through it. I could probably do it quicker and all that stuff, right? Um, but realistically, how many leads you get and all this stuff, if you really spend a lot of time on every single one of these, you're going to like just just completely waste your time, right? Because frankly, you don't know if the seller's going to say yes. So, you get a close prox like idea, you go there, you present an offer, and you say, "Hey, look, this is about where I think we're going to be." Um, you know, so what I could do is I feel confident that, you know, we could send a contract and, you know, we'll move on from there. If anything does change once we actually walk the property and do our full due diligence and everything like that, we might have to come back and adjust the price a little bit, but to be honest with you, it doesn't happen often. I just like to set the precedence that if you know, not everything you said was true, not everything I found was true, then, you know, we might have to adjust things here and there, but we'll see what happens. We'll cross that bridge when it comes. And that's pretty much it. That's that's the explainer you give because it leaves you open for if you have to adjust your price or change things. It's really it. That's it's not hard inherently. So, that's what I like saying. It works for me. However somebody else does it, that's on them, right? Um, but yeah, really that that to me I'm I'm thinking this is pretty good. I think if I got these the one that I just comped and this one under comped, um, you're talking somewhere in the vicinity of that's like 350K, you know, about 350K profit on everything. So, um, this one, these deals, this is somebody, these are actually my old leads, which is good. I'm having somebody help me out here. Uh, so if you know, we do end up getting under contract and everything goes smoothly and all that jazz, whatever. 350K, I'm splitting it 50/50 with them. So, we're talking, you know, that's a pretty damn sizable $175,000 check they get if everything works out, right? Um, not always doesn't always work out. happens. But damn, why not? Uh, and that's just two leads. There's other leads, too. So, you like my Costco hoodie? Look at that. That's how you know I'm legit. Costco rep him.
Um, so yeah, that's pretty much it. That's how I would comp it. Now, my last method of comping, like I said, is calling a realtor. I'm going to call a local realtor and say, "Hey, tell me what you think about this parcel. Get on there to go take a walk on it, blah blah blah. Let me know what you think." And once they tell me, "Yeah, this is nice or this is not nice." Cool. Great. Um, let's rock. You know, I I got an good idea. So, that's pretty much it. So, appreciate it you guys hanging out. Let me know if you guys have any questions. Feel free to pop on ask me on Discord and all that stuff. And I'll talk to you guys later. Thanks. Thanks for hanging out. Thanks for the questions. I love it. See you guys later.