Quote from @John Teachout:
Do some additional research and determine if the lots are located in a desirable area that someone would build new construction. To build homes, you would likely need to create a "sub-division" which can be a costly process before the first nail gets pounded. Is there water and sewer to the site? Is it in a city or outside in the county? Research is always important before investing in land. It sounds like it's going to work out ok for you since you got your money back but the indivisible acreage should not have been a surprise to you.
Thank you for the detailed reply
i bought it knowing o could sell it for double.
Getting it recognized as 15 lots was work my real estate agent got done by simply calling the the county and then emailing them for written confirmation of what they told him over the phone.
On another parcels I tripled my money in less than 1 year on a 100 acre parcel by simply having new surveys done and listing the 5 - 20 acre parcels on MLS. no roads, no clearing nothing
Actually more than tripled as their was owner financing. Put 20% down. Sold all of it for over double the purchase price
the 15 lots are already recognized as lots and cleared. No additional road needed
They are cleared and ready to be built on. Can build stick built or put mobiles on them With a simple building permit
Septic and well are usual for this area and poses no trouble all high and dry
Yes they are building houses in the area. Growing rapidly
looking for advice from others who have actual experience with something similar
Maybe partner with a builders?
Maybe have a spec house built and put it up for sale?
I have all of my money out so open to any possibilities
