Wholesaler · Sunnyvale, CA · Member since 2016 · 106 posts · 58 votes
6y
Alrighty, last post haha. I was at physical therapy trying to sneak messages in where I could.
At the end of the day I’d suggest visiting REtipster.com. Seth Williams has the most comprehensive free content on land investing that I have found. I’ve been at it about 3 years now. You can probably get everything you need answered on there. Feel free to PM me of you have questions!
Pueblo West, CO · Member since 2017 · 69 posts · 53 votes
6y
Vacant land is typically all cash or 40-60% down.
As far as flip, it would be sub divide or buy&hold.
Build does your build have a purpose and are you willing to tie up alot of your money doing it. Building new is speculation, till it's done and sold/rented/ used.
Important thing is figure out what you want from it? Why do you think that will get you there? What does it really take to get that plan to work?
Investor · Irvine, CA · Member since 2019 · 12 posts · 1 vote
6y
@Charles D Cruz thank you for the info. The vacant lot is surrounded by newly built homes that were built and sold last 2019 at an average price of $300k. And the price of the land is pretty cheap. I don't have any experience when it comes to building but I would definitely dive into it if it makes sense.
Rental Property Investor · Colorado Springs, CO · Member since 2018 · 682 posts · 729 votes
6y
@Marc Paelo V. Tumamak
Verify that the utilities are there, don’t just assume that since the lot next door has them that the lot you are looking at will also have them. I do land acquisitions for several builder friends of mine in Pueblo West and I’ve come across lots that don’t have water lines to the property even though everything near it does!
Wholesaler · Sunnyvale, CA · Member since 2016 · 106 posts · 58 votes
6y
@Daniel Haberkost is right, you need to confirm that it has comparable utilities. I flip land as a real estate business and there is a lot that goes into it with regards to due diligence. Especially on infill lots like this. I’d start by confirming it has the same access to water/sewer/electric, make sure the zoning is the same, the shape and setbacks are the same. I’d suggest you flip it. Find out what builder has paid for comparable lots in the past 12 months and try to acquire at 25-35% of that
Wholesaler · Sunnyvale, CA · Member since 2016 · 106 posts · 58 votes
6y
Follow up, that’s a conservative percentage because it’s your first deal. That would be achievable, the dollar values are small. You could flip that lot, but for 10-15k sell for 20-30k, for example. But you’ll want that margin in case you miss anything
Wholesaler · Sunnyvale, CA · Member since 2016 · 106 posts · 58 votes
6y
Alrighty, last post haha. I was at physical therapy trying to sneak messages in where I could.
At the end of the day I’d suggest visiting REtipster.com. Seth Williams has the most comprehensive free content on land investing that I have found. I’ve been at it about 3 years now. You can probably get everything you need answered on there. Feel free to PM me of you have questions!
Pueblo West, CO · Member since 2017 · 69 posts · 53 votes
6y
Most likely utilities won't be put in on a vacant lot. Reason being they don't know what size building is going to be developed if/when it is. And not knowing the layout of the building.