Care to share!?

Hi everyone,There are couple of ways to value the price of land in depreciation, such as the 80/20 (20% to land) and Using Property Tax assessor's values, or getting an assessment of recently sold lots in the area.I was discussing this with one of the CPAs, and he shared that if the cost of building the house is more than the purchase price, then the land is essentially of no value. 

Pay $250 for a 30 min site visit and 90 minutes on a call not with any of the realtors that are commenting but someone who holds a general contractor license or HIC license in the city of columbus who has more than 5 million of construction experience and 40+ projects.

I’m just cruising through the site, I posted earlier today for some advice as well I haven’t gotten any responses yet but I’m amazed of the support in this community I truly appreciate the valuable feedback from everyone’s experience in the field. 

I'm jumping in just to pile on what has already been shared by @Melanie P.I am a homeowner.

Kind of a rookie question but is there a site or a universal formula to estimate insurance when analyzing deals other than contacting a insurance agent in the specific market? 

We are wondering how we could best maximize our return on the property- either by partnering with a developer to eventually share returns or hiring a developer/general contractor/house builder ourselves and managing the project ourselves. 

They should have simply returned your request denied and not shared any additional details or motivations.

Thanks for sharing!

@Reuben Stewart Thanks for sharing your experience Reuben, and congrats on your success.