Good Morning DG Members,
We are having a terrific summer as we continue to learn from Dean’s books, programs and the DG website. We are delighted to inform you that we were able to acquire several parcels of land in a tax sale thanks to Dean Graziosi and his techniques, tips and information. Dean really inspired us to look into tax sales and we recently received tax deeds on various parcels of land near a recreational lake.
When I was a child we would go to the recreational lake for a Sunday drive and to get ice cream and sit on benches by the lake. It was always a fun time and I often thought this area may eventually have more potential. We normally would not have consider acquiring vacant land but we were able to acquire these parcels for pennies on the dollar and we have a few exit plans. The problem that can occur with vacant land is your carrying costs with no revenue coming in. Thus, you have to forecast your carrying cost over time compared to the execution of your exit strategy.
Dean taught us to think a little different and I see some real potential of this recreational lake area community. There are many people that use this lake for fishing, boating, water skiing, wave running, etc. During the past few years there has been several new developments right on the lake including a large condominium development. The area appears to be going through a transitional phase of updating of homes for second homes or summer homes.
I believe the area will continue to grow because all around the area new subdivisions are being developed and built. Thus, it is a matter of time, it could be a few years or longer. However we have a plan. We desire to sell a few of the lots and then hopefully cover the property tax expenses of holding the other lots. We believe this may turn out to be a really good investment. These lots are several blocks from the lake, but we hope developments will move into this area since they are already around the entire area.
I believe the best parcel of land we acquired in this recreational area by the lake was an entire block! There are 10 lots on the block and we were able to get this parcel of land (10 lots) for under $1,000. We are very excited about the opportunities we are discovering by applying Dean’s principles, techniques and tips. We never would have considered these parcels, however we believe it is good to diversify our real estate portfolio.
I hope other DG members will find opportunities in tax sales and be able to spot the future opportunities of their local areas. Sometimes it is very important to think a little different, see what other don’t see and you may be able to profit from real estate today. Thanks Dean for another great deal as we continue to move a few steps closer to financial freedom. The journey during the past 3 months has been tremendous! We really appreciate the motivational blogs and "blitzkrieg" of recent information! Good luck on all your deals! Believe and Achieve! - Joe and Stacey
"I am naive enough to think that I can do my part in helping change the world, and if that's a bad thing, then, so be it, the Question is....who's coming with me?"
- Dean Graziosi
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Joe Jurek CPA