Hello everyone, just wanted everyone opinion on when selling the land that you got for under market or very discounted price, has anyone had any issues with the new buyers or difficulty getting full market price with the property showing what you actually paid on the county assessor website?
This depends somewhat on which state the property is in, and whether it’s a non-disclosure state (where the sale price is visible in the public records).
Even if it is, I’ve found that 98% of the time, the next buyer has no idea they can see this information. And even if they do know the previous sale price (say, if they’re another investor), it still comes down to what the property is legitimately worth to them, regardless of what you paid for it.
Case in point, I just made an offer of $600K for a property even though I know the previous owner paid $400K for the same property two years ago. Why? Because I have enough information to justify a $600K value, regardless of what someone else paid for it previously.
It’s kind of like reading a credit report… You have the credit score, which gives you a general idea, but the real information is in the credit report itself (Why is the credit score high or low? What specific issues made that number go higher or lower? ). You can’t really understand the situation until you look deeper into the details.
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Agree with everything Seth said.
The thing that is actually more important to worry about in my opinion is the activity when you put it on the market. Pay close attention to your Zillow views and saves. It can help you diagnose what’s going on with the listing. Low views compared to other listings can indicate a bad hero image and bad pictures. Good views, but low saves is an indication you might be priced too high. Many people say you should shoot for a 10% save ratio relative to your views. Either way, if you have it priced right and your listing looks good, you should be getting enough activity where if somebody wants to low ball you because of what you paid for it, then you just move on to the next buyer.
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Thanks Seth always giving great answers 
Thanks Joe makes perfect sense💪