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Updated over 5 years ago on . Most recent reply

User Stats

188
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102
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Ray A Delfi
  • Rental Property Investor
  • Poughkeepsie, NY (Hudson Valley Area)
102
Votes |
188
Posts

I found a lot for sale for $25k 7.8acres but it’s swampy

Ray A Delfi
  • Rental Property Investor
  • Poughkeepsie, NY (Hudson Valley Area)
Posted

There is a 7.8acre with a 780’ front lot for sale in NJ outside of Atlantic City for $25k. There is sewer in front of it and zoned for Residential Compatibility (RC). It’s been on the market for over two years because it is swamp lands and the cost to do a wetland delineation survey on it is costly just to find out if it’s suitable to build on and a risk it it’s not. However, there are tons of residential properties surrounding it some are 1.2mil homes.

So I’m looking for some advice not to acquire the property but what would you do in this scenario? Anyone experienced with building on wetlands? What’s the process?

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