Anyone flipping buildable lots?

Building has re-started where I live .... market appears to have thawed and showings signs of life. Anyone have success finding a lot(s) that may have been abandoned say 2-3 years ago where they picked up on the cheap and re-sold to a builder?

Edited: 06/26/2010 at 12:04PM

Sean Williamson

Real Estate Investor · Redlands, California

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Mar 16 '10, 01:06 AM

Yes i know of some in the s cal. area between riverside and palm springs. a couple dif deals. some with plans and some of the ground work started!

Edited: 06/26/2010 at 12:04PM

Priscilla Z

Real Estate Investor · Palm Bay, Florida

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Mar 16 '10, 01:20 AM

My partner and I have actually been looking into this, especially since we are in an area that is still developing. Have you looked into your county's tax deed sales? That might be a good way for you to find some cheap abandoned lots.

Edited: 06/26/2010 at 12:04PM

Tod R.

Real Estate Investor · Southlake, Texas

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Mar 16 '10, 01:41 AM

We are seeing the banks taking back a load of single family lots in new and nicer subdivisions. We aren't necessarily looking for more lots but deals could be found at your local banks as well.

Edited: 06/26/2010 at 12:04PM

Tod R., Thompson Realty Corporation
Telephone: 817-781-1942
Website: http://www.thompson-realty.com
radyakllc@gmail.com http://www.thompson-realty.com

P NW

· OR

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Mar 16 '10, 08:18 AM

I'm glad to hear that building has started again in Portland. Over on this side of the mountains, there are some screaming deals on entire developed subdivisions.

I suspect that they are buy, hold, and wait deals. There isn't much building going on, although the building department says they are issuing permits again.

The houses that I am actually seeing being built are on lots that I know haven't changed hands, so the lot owners have waited and are building now (a few of them). I hope it means they are expecting the market to pick up.

A realtor today told me that inventories have gone down considerably due to sales, not due to being pulled off the market.

Edited: 06/26/2010 at 12:05PM

Ted Harris

Real Estate Investor · Portland, Oregon

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Mar 16 '10, 01:33 PM

Have you looked into your county's tax deed sales? That might be a good way for you to find some cheap abandoned lots.

I like this idea!

Edited: 06/26/2010 at 12:05PM

Jeremy Tucker

· New London, North Carolina

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Mar 16 '10, 02:13 PM

I have a lot in Houston Tx, if you are interested. 5000+ sqft lot, culde-sac, public water and sewer. email me if you are interested.

Steve Babiak

Real Estate Investor · Audubon, Pennsylvania

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Mar 16 '10, 02:39 PM

Well Ted, in that case, here's more on where that idea came from:
http://www.biggerpockets.com/forums/79/topics/32290-jack-bosch-land-for-pennies :wink:

Edited: 06/26/2010 at 12:05PM

Ted Harris

Real Estate Investor · Portland, Oregon

660 posts
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Mar 16 '10, 09:57 PM

Well Ted, in that case, here's more on where that idea came from:
http://www.biggerpockets.com/forums/79/topics/32290-jack-bosch-land-for-pennies

Thanks Steve!!

Edited: 06/26/2010 at 12:05PM

Pam R.

Real Estate Investor · Concord, North Carolina

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Mar 18 '10, 02:03 AM

Hi,

I bought and flipped about 160 acres in Colorado a little while ago and I recently picked up 640 Texas acres and looking to flip those as well. Right now people are literally giving away huge acreages so it easy to jump right in...although be careful because you could end up holding for awhile so be prepared...especially if you have a note to pay on the land you buy. Good Luck!

Edited: 06/26/2010 at 12:06PM