When you’re the high bidder
Below is an example of being the high bidder at a municipal auction.
Project Type: Land Flip
Purchase Price: $8,000
Total Investment: $12,000
Sales Price: $60,000
Gross Profit: $48,000
ROI: 400%
Timeline: 30 Months
The Strategy & Value Add
Identified an undervalued, unperked lot at auction. Strategically timed perk testing and secured a zoning opinion to confirm its buildable status, dramatically increasing its marketability and value.
The Result
Sold the entitled, buildable lot just before the COVID-19 market surge, securing a 400% return on investment and demonstrating expertise in land valuation and entitlement.
Make it stand out.
The property came with a 100+ year old artisinal well, and an entitled neighbor across the street claiming a prehistoric right to draw water from this 19’ well. As she already had 2 other deep drilled wells on her property so she thought of this right as a lottery ticket to solve her revolving foreclosure issues.
WHat BECAME OF THIS LOT…
Purchased for $60,000 during the first days of the pandemic, the builder was able to construct a 3 bedroom 2 bathroom and sold it 1 year later for $467,000.