Tear Downs and Vacant Lots

[Terry Wafer]

Hello to all. I am new to Bigger Pockets and although I am not a novice to investing in no way would I consider myself a pro. I have a couple of rehabs under my belt in the Lake Highlands / White Rock Lake area (Dallas Tx). Today I am hoping to get a couple of questions answered.

(1) I would like to venture into tear downs and was wondering how would I go about determining the value of the lot. Basically I want to know what to offer or how to determine what to offer.

(2) Secondly I own a vacant lot in a up and coming area, I want to build on the lot but was curious as how to determine the value of the lot once or before improvements are made.

I hope I am clear and not confusing any help or advice would be greatly appreciated.