A plot of land, with no home.

[John Kelley]

So, I have this track of land that there is nothing on, except a tree and an old shed in the back to be removed, I already had the rest of the land cleared. I am currently limited on funds, I've been getting my financial house in order for the past year, and I've laid a good foundation, went from 48k in debt to 24k. The snowball factor is real, but I digress.

I am curious how you successful people would approach this, with very little cash on had. I have a great credit score, I make 60k a year salary, I own my current home and car, thus I am able to pay down my loan accounts and business loan, from my LLC startup last year. The question I have is, how would you all recommend getting a house/mobile home/tiny home built or put on the land. I've heard mention of a USDA loan for rural areas with 0% interest, I know there are many options, you just have to know which ones are available to you in a particular area.

My original plan was to get a home on this land, rent, refi, and repeat. The issue is, there's no building in equity if I purchase a home or tiny home, I think.... So BRRRR may not be good with that strategy. I would like to figure out how to get funding and a home on the land to rent, then I would use any funds to repair my current home to rent and then rinse and repeat. I believe the estimated rent on my home if I fix it back up (20 years with only minor repairs) $1100-1400.

My overall goal will be to replace my $60k income, so that I can stop landing million dollar contracts for my boss, which I get no commission on. That way, I can stop missing out on family time, and at least be there for the last 2-3 years my sons still nesting with my wife and myself.

Just looking for some input or an arrow in the right direction, if anyone can help or knows something, please let me know. Thanks to everyone in advance for making this site, and simplifying the learning curves.

If anyone wanted to look at the property to get an idea, it is located at:

Long -30°58'41.12"N 

Latitude - 87° 8'45.75"W

Mart Jernigan Road, Jay, FL. I also have images and a description of the property in my investments profile.