Family Property/Commercial property

[Marco Herrera]

Hello. I hope y'all are doing as well as you can be doing. I will first admit that I am not very knowledgeable about Realestate at all. I have not logged into Bigger pockets in a long time. I have not done much research, so I hope y'all will be patient with me. I tend to write a lot, so I will do my best not to write too much. 

There is a property that was left by Grandpa after he passed to his kids. It sits on 7 acres on a very busy highway that connects many cities together. The town that this property is in has close to 100,000 if not that amount of people. Also, the town/area this is in, is in deep South Texas, very close to the Mexican border, you can get to Mexico in about 25-30 minutes depending on traffic. In this area that we live in being so close to the Mexican border, there is a lot of Mexican money flowing in and out of our area whether it be illegal or legal, that's just the truth. 

That property has been there not been sold for about 7 years. Just recently there have been several people calling to ask about it, although there have been no formal offers on it. I looked up the property value and it is at $454,000. My Aunt who just moved down from California convinced the family to ask for $700,000 for the property because of the current Real estate market. I may be wrong, from what I have heard the Real estate market is still hot or active if you want to call it that, and the peak is already over, so it is on the way down. 

This property has houses around it and 2 businesses within walking distance to it, and the plans are to build another business a couple of hundred feet away from it. One person who contacted my Aunt said that their plans would be to build an apartment complex there or have rental property there. My family has been very patient with the land not having been sold yet, and they do not want much longer to sell the land though because they fear that the market will get cold and then it will be harder again to sell the land. 

I am an heir to this land because my Mom passed away. My wife and I are currently in Chapter 13 bankruptcy. We have about 4 months left to finish it. So, if the land were to be sold in these 4 months our best option would be to exit it and then keep the cash. I am getting to what I want to ask. I am the out-of-the-box thinker in my family and amongst those that are heirs to this land. Therefore, I was thinking/wondering, how could I find a way to purchase this land through non-traditional lender? And, I would then want to flip the deal quickly, and so how would I do that? 

I know that I am still in bankruptcy and what some or most lenders would think of that. And, also I know it sounds like even if I could get the financing to buy the property, I know how it sounds that I do not have a plan to find a buyer for the land. Out of all of us heirs, I am the one who wants to sell this land quickly while I believe the best time to do it is right now, and I am willing to do just about anything to get this done as fast I can. 

I know I am very uneducated in the Real estate space, and if y'all want to rip me to shreds for asking for such uneducated questions, I get it, respectfully. I also hope that y'all will answer me back with your knowledge and expertise so that way I can see what I can or cannot do.