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Updated about 7 years ago on . Most recent reply

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64
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8
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Jestin Sorenson
  • Investor
  • St. Paul, MN
8
Votes |
64
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Selling land to government for parking lot

Jestin Sorenson
  • Investor
  • St. Paul, MN
Posted

I've been doing some direct mail marketing and a guy called me about a plot of land. The government owns a building next to it that they've put money into to fix it up and they aren't using it. The building has no parking lot. The plot of land could be turned into a parking lot and also controls the alley up to the back door of the property. The owner knows this and told me this, but is too old to be chasing people down. He told me he would sell me the land for 150k. If I can get the government to pay more than that for this piece of land, I/we can make some money. Does anyone have any experience or advice? If I had the property under contract, who would I approach at the government level and how would I approach them? The government may be interested in selling the property if they are not using it and are not interested in the land for a parking lot. I could buy it from them and market both the property and the land together for more money than separate.

This is out of my area of expertise, but I'm willing to learn. I would partner with someone on this. Maybe this isn't a deal and it's nothing, but I wanted to look into it and see if anyone had any experience or advice. Thanks!

Most Popular Reply

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5,218
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
2,182
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5,218
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied

What type of government? Federal will be much more difficult than local or state.

If you have the time or interest, you can chase them down.

  • Ronald Rohde
  • Loading replies...