Let me tell you about a little used strategy for wholesale and fix and flip deals in real estate. 

Land splits. 

Its brilliant, you get two for the price of one. Every time I look at a potential property, I immediately check to see if the lot/parcel can be split. If it can be split, I keep this to myself when I approach the seller with an offer. However, knowing that the lot can be split and I get a free lot I can either build on or wholesale, I have an instant 30k cushion with my offer allowing me to be way more aggressive. If needs be, I can outbid my competitors.

How does a land split work? It's fairly simple, although it can get really complicated really fast. But let's not focus on the hard complex deals. A simple lot split can sometimes be done at the administrative level with your city or county. You have to do the homework. A ask your local city/county about the laws regarding lots plits. Have the parcel number of the property handy and they will tell you if it is eligible for an administrative lot spit. It might have to be an original parcel that has not been split, or a parcel that hasn’t been split AFTER 1979, or some other random date. If your parcel is eligible, this is brilliant! You just made yourself an additional 30k potentially.

So now what? Either wholesale the deal, with the paperwork from the county/city that the lot can be split, OR buy it and sell the two deals separately! How do you do it? Hire a surveyor, split the land in the most advantageous way for resellabilty for both lots, and the surveyor will record it at the administrative level. A month or two will pass, and the assessor will give the split lots two new parcel numbers. You record these two new lots, and you have two properties! 

Isn’t that awesome? Next time you look at a property, look to see if you can split it easily! DON’T LEAVE MONEY ON THE TABLE! 

Keep up the hustle, make money and be a blessing.

Cheers, Nate