Updated over 10 years ago on . Most recent reply
Help- No exit strategy on a land deal. Need options/ideas.
A friend/agent sold me deal "good enough to sell his mother". My intent was to flip it, but years later I'm paying $200 a month on taxes and resort membership on 10 acres that I can't get rid of. It's truly a nice ski property in New Mexico, but according to the listing agent, land is not moving in that market so even lowering my price substantially below my costs won't attract any offers. I have ~$150k tied up in this that I'd like to use for buy and hold residential but it feels like I'm trapped.
Anyone have any creative solutions to end my pain on this one?