New Wholesaler - Tear Down Properties

[Account Closed]

I am new to wholesaling and received a call re: 2 lots with 3 houses (next to each other on a corner block) that the owner wants to sell. The houses are very old and would need to demo and rebuild however the value is in the land. The area and block itself is pretty rough but a few blocks down there is major development and construction of new SF homes and townhouses. 

Since this is not a case of estimating repairs for a rehab. How should I go about calculations and do you think it would be worth trying to wholesale and find a buyer for these properties since the immediate block is pretty rough, but general area is looking very promising?

Each land lot is 5,000 sq. ft and valued at $100K each.

Any advice would be appreciated. 

Thanks, Newbie