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Updated about 4 years ago on . Most recent reply

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4
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Ryan Veatch
  • Investor
  • Meridian, ID
0
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4
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Can I purchase multiple lots under one note?

Ryan Veatch
  • Investor
  • Meridian, ID
Posted

My dad and uncle recently inherited 4 adjacent plots of land, 1 of which has a house on it. I'm planning to purchase it all from them as a solution to their worries on what to do with it and an opportunity for me to turn it into a profitable real estate venture.

I'm curious about a few things:

  • Can/should I purchase all 4 lots together, under one note?
  • How easy/expensive would it be to redraw the property lines or even merge them if I own them all? (I read that this can be done with a quit claim, which seems questionably easy)

On a side note, I'm bouncing between the ideas of flipping the land, re-zoning the land for commercial then flipping it, or building on the land then renting/selling it. This will be a first in all these things for me. If I chose to build, my plan would be to network and find a partner with someone local that has experience.

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