I’ve seen folks pick up land in similar setups.. sure, maybe not always in Wyoming, but in pockets around San Antonio where people said, ‘Oh, that’s just dry scrubland,’ adn now those owners are sitting pretty with properties they can eventually develop or flip.

Look into factors like vacancy rates, local job growth, and tenant demand to pinpoint promising markets.Once you find a property, work on running the numbers carefully—factor in purchase price, rehab costs (if applicable), property management fees, and reserves.

Develop a clear set of criteria for onboarding clients and stick to it.

Other factors such as the quality of the tenant, and location will also determine the value you can get.

I base the price on a few factors - Room size, amenities and area average rents. 

I actually interned for a company in Iowa City that did real estate, property management, new home construction and development.

Hi all, I wanted to get some comments and thoughts about a proposed deal. I was approached to help buy land that has been zoned for 34 townhomes at $2.7M (would be me and a couple of investors). The land is in a good ...

Given your experience managing 138 doors, you already have a significant advantage in understanding tenant needs, property maintenance, and financial planning.Key tips:Focus on personal finances: Keep building excellent credit and maintaining healthy reserves.Financing: Explore loan options like conventional, or DSCR loans to maximize your purchasing power.Location: Research neighborhoods with strong Section 8 demand and landlord-friendly regulations.Due diligence: Analyze properties carefully, factoring in rehab costs, property management, and cash flow potential.Your expertise and willingness to learn put you in a strong position—best of luck!

My gut reaction would be that price is high (granted I don’t know the area at all).But if it has been sitting on the market- which it was listed in 2023 for close to $200k less and did not sell my guess is price is the factor - while offering owner finance - it’s only good if it could still provide great cash flow while not overpaying.

Should I go ahead and develop the land entirely and risk losing that money?