10 Acres Near the Ocean

[Nick Bowie]

Info On Property:

- $260k

- 10 Acres, wooded lot/old growth w/pines, mostly flat, dirt road access, in between two devolved lots

- Just over a mile from a classic Maine beach, in a beautiful coastal area close to many beaches and Portland, ME

- HOA allows 1 dwelling, no subdivisions.

- Neaby homes sell for around  $600k, and towards $1M

- Property on the market for over a year

Questions:

What’s a good way to organize thoughts on a deal that goes from wooded lot to selling the home?

Do investors avoid these type of buy, build, sell opportunities?

Seems like there’s some profit margin after the build, is it too high of risk?

Thanks in advance for your thoughts.