COMPLETE TEAR DOWN!!!

[Quinton Childs]

Have anyone ever invested in a complete tear down property? I know you're essentially buying the lot/land but how frequently do people outside of a huge corporation demo an entire home then develop on the land? Interested in hearing testimonies from you all.

[Jay Hinrichs]

we do it a few times a year

its very tough.. some areas land has negative value.. IE you cant build a home for as cheap as you can buy existing there fore land is negative value.. you see that in lower end areas .

in higher end areas were you can sell new construction for 500k and up its quite often tear downs work.

but you still have to get it over to the land owner that their 100k lot with a tear down house you can only pay 65 to 80k for it because depending on age it will be 20 to 35k to tear it down and haul it to the dump.. better to have a fire accidently.. ::))  not advocating that at all but.. you have to deal with Asbestos's and lead paint in these day and age and that can cost an arm and a leg..