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Updated over 9 years ago on . Most recent reply

User Stats

269
Posts
53
Votes
Annette A.
  • Waterville, ME
53
Votes |
269
Posts

should i sell my land or build for a profit

Annette A.
  • Waterville, ME
Posted

I have 5 acres near a major city in maine. I own it outright with a rough value of $42,ooo. I have been sitting on it for a few years and paying taxes, so it is costing me and not making money. 

My thought has been to sell it for the cash to be able to invest? Or as some know i posted that i wanted to build a 4 cabin short term housing unit.  i feeI building is a more profitable avenue, but i have a semi low credit score and no added income: but i can add my son to the business as he has a high paying job and better credit. 

I could with my son just build a spec house and sell it for a quick profit as this town places go like hotcakes.

so i have three option its, well 4- sit on it some more and keep losing money. :( 

what do you think? 

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