All Forum Posts by: Joaquin Jimenez

Residential Building Lots For Sale:  

Soon to be available near the charming historic downtown Statesville, NC, a developer / builder is offering a rare and hard to find opportunity to purchase up to 4 contiguous building lots.

This offering is to sell either one, two, three, or all four lots that will soon be created from the subdivision of a vacant one acre parcel.  

Each new lot is just over a quarter acre in total size, approximately 50' wide street frontage by 219' deep & zoned for single family residential.

City water & sewer is available at the street.

Property is located across the street from 623 W. Bell St., Statesville NC 28677

(Note:  parcels are still part of a 1 acre parcel and physical addresses for each new parcel will come after subdivide)

Asking $55,000 for each new quarter acre lot... 

Or the developer / builder is open to consider other creative build out scenarios such as partnerships with other builders or funding investors.  

For additional information: call or text 704-858-0611 or email [email protected] 

Thanks for the approach Erik.

I do find your approach to overall be the easier way.  

Curious, is there a special technique I may be missing on if I where to approach it as a ground up loan WITHOUT permits?   

Usually I've obtaining the building permit after I secure the financing on a build, not before, yet I can see how obtaining the permit before lending can easily happen.

I am a licensed builder.  As such I look for lots to add as inventory for future builds, simply to ensure I have something to work on when needed.  I've found it can be difficult to find good land deals to build on when I am in need one if they aren't already in the que or in my inventory.  Its a timing thing.  That's where I would like to find lending for the land portion only.  I don't necessarily want to build on the parcels that I find or create right away.  Additionally, at times I've been fortunate to hold the land parcel just long enough that I can sell them to other builders and make a comparable amount versus building on it myself before selling.   That route has been nice because its been less risk and holding cost.

Good question.

Whether to sell the land or build a house... It's like choosing between two different adventures.

If you sell the land, it's like getting money quickly to buy something you really like. It's easy and fast.

But if you decide to build a house, it's like making something amazing that lots of people will want. Building a house can be tricky because you have to follow rules and make sure everything is just right. But when it's done, it's like having a special treasure that's worth a lot.

So, it's kind of like picking between a quick adventure and a big, exciting one. It's up to you to choose which one sounds more fun!

A few reason I think it may be wiser to consider selling the land:

1.  Building cost more these days, alot more.

2.  Interest rates are higher making it a bit more difficult to profit on an already expensive build.

3.  If you aren't experienced at it, it'll typically cost you even more to build your first project, because you don't know what you don't know.  

Alternatively, a reason to go the distance and build it out:

A.  If you think you might want to repeat this process, better to do it and start the learning.

B.  If you're a person who likes to overcome challenges, create and manage projects, building could be for you.

I personally go into each project looking to build it out, yet many times I've decided to simply just sell the property and move on the next project.   

Enjoy.

Is $100k to small?  

I like to acquire vacant land and then improve & build value on the parcel by subdividing or going as far as building a home on the property.  In my limited experience vacant land has been more challenging to get lending on than a property with an existing building or house on it, which makes sense.  Yet I wanted to ask the BP community if there any private or hard money lenders that also see the value in land and consider lending on them?  I would like to connect.