Would you buy land in a city for a very low price?

[Karla Edward]

Would you buy land in the city of San Francisco, if you could get .10 of an acre for less than $10K, knowing that it will cost several thousand dollars for permits and building? Is getting the land cheap, worth it?

[Saim Chaudhry]

not sure where you would buy a 4300 squarefoot lot in SF for less than 10k?

[J. Martin]

Originally posted by @Karla Edward:

Would you buy land in the city of San Francisco, if you could get .10 of an acre for less than $10K, knowing that it will cost several thousand dollars for permits and building? Is getting the land cheap, worth it?

 How about this Karla?

You deliver me the executed contract for a .10 acre lot in San Francisco, and I'll give you $20K for the contract. You don't even have to put any cash up!

Then I'll sell it to @Amit M. or @Kyle Zaylor for a couple hundred thousand.. ;)

Land is VERY valuable in SF.
It costs WAY more than several thousand dollars for permits and building, and it is still worth way more than $10K under any foreseeable circumstances. Just roll the toxic waste barrels off and start hauling out sand..

Good luck!

[Saim Chaudhry]

Karla, just to give you an idea of how rediculous it is, I have a 2500 squarefoot lot with plans under contract at $1.4M. A bare, ugly lot in a nice neighborhood. It's crazy out there...

[Jesse B.]

I guess the answer is a yes! ;)

[Kyle Zaylor]

@J. Martin deal! :)

Karla,  it could be a great find.  Do you know any history on the land and current/previous owners? If not, see if you can uncover any and all reasons why the land might be offered at its current price.  

[Karla Edward]

Thanks for the replies. When I have a crazy deal like that under contract, I'll let you know!

[Jon Klaus]

It's possible that very cheap land could have deficiencies that make it impossible to develop. FEMA could prevent development, it could have environmental problems, easements might make development impossible, zoning could prohibit anything getting built on that size, etc.

[J. Martin]

Originally posted by @Jon Klaus:

It's possible that very cheap land could have deficiencies that make it impossible to develop. FEMA could prevent development, it could have environmental problems, easements might make development impossible, zoning could prohibit anything getting built on that size, etc.

 For under $10K in SF, like I said, just roll the nuclear waste barrels off. I'll put up a tall fence and a sub-200 sq ft tiny home and rent it out for $2,500/mo..