Rick- When someone snatches up one of these gems on the cheap and the land's redemption period has passed and a deed is issued, what is it that Jim & yourself recommend be done with the land? Do you then solicit developers to purchase it from you or do you list it on Ebay (for example) as a land sale? Just wondering what the exit strategies are once the land is acquired if you don't want to hold on to it. Thanks.
Definitely need to figure that out BEFORE you buy it, as you are doing.
If there is no exit plan, I wouldn’t buy it.
The exception is when it’s available for a very cheap amount, and there is some scenario where it could become worth something. In that case, you would buy 10 or 20 such parcels and maybe make a good amount on 1 or 2 – sort of a “portfolio” approach.
We don’t really buy much land though without some kind of purpose in mind ahead of time.