I had a friend buy one of these properties. Eric Estrada is just a contracted actor that was given two of these lots (that he still hasnt built on) as part of his salary for doing these ads.
In all actuality, the lots he is selling, go for ~$7K on the MLS but the company that sells these ask for $30K plus financing. Once the owner is locked in, they are locked in. There is no chance of selling and recouping all of their money. They are upside-down from the beginning. Now that is a unfortunate hustle.
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President of San Jose Association of REALTISTS, (a local chapter of NAREB)
Serving the SF Bay Area's Silicon Valley