Land in Lago Vista

[Jason Rowlett]

Hi, I am a beginner investor wanting to get into rental properties. I have a condo in California that I currently rent out and I am now trying to build my portfolio.

I have been seeing these *inexpensive* lots of about 0.4 acres for around $4-5k apiece in the Lago Vista area. With Austin expanding so much demographically now, I am wondering if these parcels would be a good investment to flip to a developer. But many have been on the market for more than a year (I assume because of the recent recession). Perhaps these would be a good buy now?

Anyone familiar with the Lago Vista area on the north Lake Travis side? Does anyone know why these lots are still available? 

Thank you!

-Jason

[Greg H.]

Flipping lots in Lago was how I got started in Real Estate in 1989, I used to send letters for people to give me their lots and in some instances I would pay $100 or so. I would turn around and market them not necessarily as lots to build a house but to be members of the POA so they could use the boat ramps, campground, parks etc. I used to advertise in the Thrifty Nickel( No internet back in those days !) for $500-800. I thought I was rich !!

It has been along time but here are some of the things to be aware of in Lago Vista and Highland Lake Estates :'

- Many lots are not economically feasible to build on due to topography

- Some lot may not have water and sewer to the lot and it would be your cost to get them there(I am sure that this has changed somewhat)

-City Hall can be a close knit group that can be unfriendly to those from the big city of Austin

Let me know if you have any specific questions and thanks for the trip down real estate memory lane !