A Quick Money Success Story.
On Thursday, July 22, at 6 pm I put up for sale on an e-Bay auction—#4314861627--a 25 ft X 125 ft lot in the tiny town of Hallett in Oklahoma state, population about 159. My partner and I had bought it for $151 at the county tax resale auction. I started it at $1 minimum bid, absolute auction, with a $95 fee for the deed, notary, recording, and so on. I also put in a "buy it now" option for $295. In my description, second sentence, I said it was a speculative buy. Reason: you need 100 ft wide to build on in Hallett. Mentioned that the 50-ft lot to the West and the 75-ft lot to the right were owned by a widow who didn’t want to buy or sell.
That evening somebody took the “buy it now” option, and sent me an email about sending a check. Friday morning I saw the email and sent a response about the purchase, in which I added a description of how easy it is to set up a PayPal account. The buyer paid with PayPal before mid-afternoon. I put the deed in the mail Friday evening, about 24 hours after putting up the auction. FAST MONEY! Who says it takes a long time to sell vacant land?
Good Investing**********Ron Starr**********
Very Good Ronald. The percentages of profit are excellent and it is nice to see it go so smoothly.
Of course some time in the future I do hope he can sit down with the other owner of the adjacent property and work out some form of development between the two of them. Of course he can always go down and see if they will give him a variance on the requirement for 100 feet. I usualy do this by presenting them with some different and startling in the way of a development.
Cheers Lucius
excellent creative thinking...........kenmax
Quote:
On 2004-07-25 00:21, RonaldStarr wrote:
On Thursday, July 22, at 6 pm I put up for sale on an e-Bay auction—#4314861627--a 25 ft X 125 ft lot in the tiny town of Hallett in Oklahoma state, population about 159. My partner and I had bought it for $151 at the county tax resale auction. I started it at $1 minimum bid, absolute auction, with a $95 fee for the deed, notary, recording, and so on. I also put in a "buy it now" option for $295. In my description, second sentence, I said it was a speculative buy. Reason: you need 100 ft wide to build on in Hallett. Mentioned that the 50-ft lot to the West and the 75-ft lot to the right were owned by a widow who didn’t want to buy or sell.
That evening somebody took the “buy it now” option, and sent me an email about sending a check. Friday morning I saw the email and sent a response about the purchase, in which I added a description of how easy it is to set up a PayPal account. The buyer paid with PayPal before mid-afternoon. I put the deed in the mail Friday evening, about 24 hours after putting up the auction. FAST MONEY! Who says it takes a long time to sell vacant land?
Good Investing**********Ron Starr**********
I certainly hope the little old lady enjoys her newly purchase property. <G>