My dad gave me a property he had bought 20 years ago and had never developed. The first thing I did was to start giving it maintenance and have a surveyor reestablish the limits. All this prompted the atention of the neighbors.
The owner of a neighboring property that resides outside the country and wanted to get rid of it, because he was no longer interested in living here, offered to sell it for $25,000 or $1.31 per square foot which I rejected. He later called me and offered to sell it for $16,000 or $0.84 per sq feet. Now for anyone living in the general area they would know that the price per square foot on average was $2.31 but in that neighboorhood it rose to $4.38 per sq foot. So even though I didn't have the money I got some friends to lend me the money and the deal was made.
And what did I learn from all of this :
-People buy things they don�t really need all the time, and once they realize it they are willing to sell at a fraction of the price .
-People usually don't have a clue to the price of their property.
And most importantly there are deals to be made everywhere and once you have the deal the cash can be made availabe.