Improve Rural Lot

[David C.]

I have a lead on some rural land in East Texas but I'm not sure how I can increase increase its value to make it profitable.

It currently has an existing cabin and septic, but the cabin needs to be torn down so he is only selling it for lot value.

Cost to build in the area would run $65/ sq ft. I talked to someone in the area who told me that new builds would sell for $85/ sq ft but after reviewing comps most were 30 years old listed for $65/ sq ft and lingered on the market for 6 to 9 months.

The owner of the land is already going to have to take a bath because when he bought it the cabin was usable but it has been left to rot.

It is not close enough to any small town to sell to anyone except as a hunting cabin or small weekend farm and its not along a major state highway. Some of the neighbors run cattle but they are not interested in purchasing it.

Does anyone have an idea of how to increase this property's value? Has anyone been in a similar situation?