Case Study: 2300 Courtland Street

No house here!

I thought you guys just bought houses?

At this point it has been pretty well documented that we buy houses in pretty much any condition, any situation. But what happens if there is no house at all? What if it’s just land, and there’s no way to know whether it has any value at all?

Well lets look at this case study and see how it works!

How did we come across land?

We had one of the nicest people we’ve ever had the pleasure to work with call us to see what we could do. She lived 90 minutes north of Richmond, and had owned the house adjacent to this lot, along with the lot. Everyone thought that the land and the house were one unit, but imagine her surprise when she got rid of the house that she still had the land! 1.2 acres in the city of Richmond, and no way of knowing what to do with it. Paying property taxes and wondering what’s the next step…since 2006.

You read that right. 2006. Fourteen years. She had had multiple other real estate investors reach out to her over the years, but once she explained it was land only, they disappeared.

She reached out expecting more of the same, but was hoping someone would buy it so she could have some cash for home improvements and Christmas presents.

What did we end up doing?

Just like houses, land needs to be evaluated for “condition” to see what it could possibly be worth. We took a look and while the lot isn’t cleared, doesn’t have a full road running in front of it, and has no sewer setup, there is definitely still some value! After looking at what land has gone for in the surrounding area, we offered her what we believed to be fair market value, and she was stunned. She wasn’t expecting even a return phone call, and she certainly wasn’t expecting an actual real offer for the land!

30 days later, and we are the proud owners of 1.2 acres of land in the city of Richmond, and our seller is ecstatic to have some extra cash for her home improvements!

What does this mean for you?

We want to tackle any project you can throw at us. Whether it’s a house that it’s raining in the living room (check!), to a house with a room pulling away from the house entirely (check!), to some vacant land that is covered in trees (check!), we are here to help. And if we can’t help, we will put you with the person that can. We haven’t been able to help everyone we come across, but we have always left someone better than when we found them.

Put us to the test! Give us a call, you might be as shocked as this seller was that we actually were able to help her with her goals, and maybe we can take photos like these of us looking over some “new to us” land.

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