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Updated over 2 years ago,
I acquired a lot in Punta Gorda last Tuesday. Now what to do?
Hi, I'm new to investing. I acquired a lot at a tax Deed Auction. I was planning to clear title and put it on the market at FMV. Then Ian hit Thursday. Now I'm considering because of timing, it might be better to build a house (through modular construction), then put that on the market. My thinking is that the market for a new construction house would be far greater than a vacant lot. After all, there are now too many vacant lots. I've done a little research on the real estate market post hurricane, I figured someone in the Bigger Pockets community may have experience in a situation such as this and am hoping to get feedback to gain clarity.
Also, I'm acquiring property by way of tax deed auctions from the floriuda coastal counties. Currently I've been targeting Lee, Sarasota and Charlotte. Does anyone have a thought about whether I should shift my focus to 3 other counties that weren't in Ian's path or continue bidding in those 3? I buy vacant land , clear title and sell; or clear title, build then sell; or clear title, build and hold as a short term rental.
Iappreciate any feedback at all... thanks for stopping to read.