1
General / Trying to figure out how to price a bid on land
« on: June 05, 2018, 01:41:14 AM »
Have been out of this game for awhile but there's a couple of properties coming up this month that I'm interested in purely on the proximity to other property that I own and use. These aren't adjacent or anything, but they are close enough to be useful to me for other purposes.
What I'm trying to figure out is how to best price my bid. I'm just looking to get a deal and not be paying market value like I seem to be seeing in some of these areas. If I miss out on these properties because someone else overpaid I won't lose a wink of sleep.
It seems to me the best approach would be looking at MLS comparables and then bidding someone sort of a discount to that. Does anyone have any rule of thumb that I should be using? This is for land only, there's no structures on these properties.
What I'm trying to figure out is how to best price my bid. I'm just looking to get a deal and not be paying market value like I seem to be seeing in some of these areas. If I miss out on these properties because someone else overpaid I won't lose a wink of sleep.
It seems to me the best approach would be looking at MLS comparables and then bidding someone sort of a discount to that. Does anyone have any rule of thumb that I should be using? This is for land only, there's no structures on these properties.