We had a fire and it may be easier to just tear the house down. Has anyone in Milwaukee ever done this? What should I do with the land?

The city is most likely going to put a time limit on razing the property, so you'll need to find a good demo contractor that will haul off the debris, cut the foundations below grade per city requirements and fill the basement/restore the site. They will also require you to cap the utility services at the right of way line.Not a fun way to get out of a property! Sorry to hear about it.

If location is not in the bario and you had a good rental cash flow from that location you should consider rebuilding, especially if the code allows for duplex or multi. General contractors or smaller builders would shave off costs, and you will have no maintenance on a new rental construction for a number of years. Selling land is more difficult

@Jason Bott and @ralph r Thanks!

@Brie SchmidtWondering if that was the house you where living in? I always find the highest and best use for the land. Why could you not rebuild? @Ralph R. made a good suggestion should be good for a tax write off? Why $1 is the area in the bario? The highest and best use is what I am always after.

@Brie Schmidt I have had 2 of these situations and both times the land was sold for $1 to the neighboring owner.

Hi,Having some Local input on what the Highest and Best Use would be, can be a good idea. Ask local appraisers and RE agents. Check the zoning, see if there are grandfathered in setbacks.Kind regards,Arpad

You could donate it to Habitat for Humanity or try to sell it to the neighbors.

Tearing down a house in Milwaukee - what to do with the land?Tearing down a house in Milwaukee

Skip to content

Quick search links

Find an Agent Find a Lender Hard Money Lenders Podcast Books New York

Back

Pick markets

Market Finder - NEW PRO Picking a Market Workshop PRO Picking a Market Worksheet Top 100 Cash Flow Markets Market Insights - Sunbelt Region

Market finder

Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent to price ratio, and more.

Pick Markets

Back

Find deals