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Updated almost 3 years ago,
I have an awesome lot, and design, short on cash. Please advice
A year ago I bought an awesome 3.500 s.f multifamily lot just east of downtown (east lawn).
I got a design done for it that fit 7 tiny home units (8 Shipping containers) with plenty of parking. Take a look below.
The construction was going to be roughly 600k. (6) one-bedroom tiny homes plus (1) 3 bedroom Airbnb STR projected to gross up to 10k per month. (Solar was going to be financed separately)
However, in the Summer of 2021, I count find builders to do the container building for me (I don't live in Texas, so it didn't help). So I focused on other projects. Skip 9 months forward, I realized that all of my money is tied elsewhere and the lot is simply sitting there bleeding tax money.
I need advice on how to move forward. I'd hate to give it all up and just sell the land.
Dennis