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Updated almost 11 years ago,

User Stats

40
Posts
14
Votes
Maverick V.
  • Real Estate Investor
  • Spring Branch, TX
14
Votes |
40
Posts

junk yard lot in residential area

Maverick V.
  • Real Estate Investor
  • Spring Branch, TX
Posted

While driving a neighborhood in an area im interested In I came across this lot that quite literally looks like a junk yard. The neighbood ranges from 40 acre "ranches" to 1-2 acre lots with a mix of manufactured houses and 4000sqft custom houses. I know 1 family that lives in this neighborhood and they recently paid 18k for a 1acre fully treed lot with no utilities adjacent to theirs. (Just to give an idea of land value) The lot in question is posted with "for sale soon" signs that give no contact information. The lot appears to be about 5 acres and has 2 older manufactured homes that appear to be in livable condition, but would require a fair ammount of work, one uninhabitable manufactured house that is sitting on a moving trailer with one end on the ground and other end about 6 feet off the ground. There is another home that appears to be a stick built home but it is also on a moving trailer and would be a total tear down. There are 2 old campers and 10-15 vehicles on the lot. I asked some neighbors about the lot and they said the guy brought the extra buildings (the ones on moving trailers) in for storage. Some said the guy died some said he just skipped town.

I havent found the guys contact information yet and im honestly not entirely sure what I would even do with the lot, but I deffinatly seems like an opportunity as few would want to deal with the clean up. So my questions are how do you deal with vehicles that are left on a property? I know if its a probate situation there would be an estate sale, but if he failed to pay taxes and just left town I would assume they remain? What would you do with all the stuff stored in the buildings? From what I can see from the street the one building seems to be full of furniture (stacked to the ceiling). And most importantly, what would you do with the lot? I cant do a new build which would probably be best, I was considering just clean it up and resell if the numbers work, perhaps rehab one of the manufactured homes. I welcome all ideas and input and expect plenty of "stay aways"

I understand that without any of the numbers all adivce will be speculative but I just want to hear your opinions. Thank you and have a great day!

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