Tulsa, OK · Member since 2016 · 119 posts · 23 votes
Hello Everyone! I’m looking into buying vacant residential lots in the North Tulsa area. My issue is that I do not have funds to build a house on the land. I came to a roadblock. I do not know what to do with the lot. I could sell them. To separate me from the rest, I would do owners financing. I could also develop a partnership with a builder. Any and all ideas are welcome. Thank you in advance.
Goshen, AR · Member since 2017 · 267 posts · 159 votes
8y
If you’re buying them for less than $500 it may be a decent deal but you’ve got an abundance of vacant homes and vacant lots so doubtful you’d see the demand even at $1000-2000... plus the fees associated with closing etc... it may be a decent longer term play but not a get rich flipping lots overnight. Deren Huang thoughts?
Goshen, AR · Member since 2017 · 267 posts · 159 votes
8y
I’m not sure that’s a good play any which way you slice it in north tulsa... don’t get me wrong I’m a fan of housing up there but when you can buy a house for $15-25 a sqft buying lots (unless included with the house) don’t make sense.
Tulsa, OK · Member since 2016 · 119 posts · 23 votes
8y
What if I was able to purchase a residential lot for less than $500? I would want to sell it to a developer or I can offer seller financing. When I lived in Detroit, no one was taking a second at what we had to offer. Now, Investors from all over the world are buying properties in Detroit. I think that North Tulsa just needs some development and some TLC.
Goshen, AR · Member since 2017 · 267 posts · 159 votes
8y
If you’re buying them for less than $500 it may be a decent deal but you’ve got an abundance of vacant homes and vacant lots so doubtful you’d see the demand even at $1000-2000... plus the fees associated with closing etc... it may be a decent longer term play but not a get rich flipping lots overnight. Deren Huang thoughts?
Just my opinion... You could try locating the owner of the neighbors adjacent to the lots purchased and see if he/she has any interest in the property. Make an offer and see what happens. Otherwise, unless purchased in an area with lots of new development, it'll be a bad investment. Best of luck to you.