Neighbor wants my deal before closing - flip it or stick with the plan?

Land Investing
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I came across a property that comps out around $25k. Did my research, made an offer at $8k, and the owner accepted.

Before we close, I’m doing my due diligence and I happen to mention the property to one of the neighbors. Turns out this neighbor has been wanting to buy that exact parcel for years and says he’d pay $15k for it right now, cash.

So now I’m sitting here with a property under contract at $8k, knowing I could immediately flip it to this neighbor for $15k and pocket $7k profit without ever taking ownership. Or I could stick with my original plan, close on it myself, and market it the normal way for hopefully closer to $25k.

The quick flip is tempting because it’s guaranteed money with zero holding costs. But part of me wonders if I’m leaving money on the table.

What would you do in this situation? Take the quick $7k or go for the bigger potential payday?

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Well, congrats on the deal first off!! I’ve learned it’s sometimes better to take the deal and move on to the next (bird in the hand type of thing). You save time (most value), some brain damage and possibly some money - I like those odds!

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If we were talking about a difference of $20K-$50K or more, then I would understand why you’re deliberating on this… but honestly, these are kinda small potatoes. If you’re doing things right, there will always be more land deals to go around. When I see an easy, quick win on the table, I tend to opt for that instead of the unknown.

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