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Updated about 1 year ago,

User Stats

4
Posts
1
Votes
Andrew York
  • Canton, CT
1
Votes |
4
Posts

Vacant Land Flip. To improve or not?

Andrew York
  • Canton, CT
Posted

I recently got a 1ac. residential lot in Connecticut under contract with the intent to flip. It had a SFH that burned in 2018, with the well, septic, and a few sheds still on the property. I'm figuring out what would be the best course of action to maximize my eventual sale price. My original intent was to wholesale to builders in the area, but am also considering listing on the MLS to a retail buyer. There is quite a bit of leftover junk on the property, so I will be getting a dumpster to remove the junk regardless of which path I choose.

My options:

A. Leave the land as it is, with tall brush, and sheds (in relatively average condition). The eventual buyer would deal with either leaving the sheds, or demoing them as they wish. 

B. I clear the brush, open up the lot, and demo the sheds, so there is a clean slate for someone to build. I know this would be more attractive to a retail buyer, but an increased sale price might not outweigh the demo costs. 

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